Tactile Systems Technology (NASDAQ:TCMD) Downgraded to Market Perform Rating by Oppenheimer

Oppenheimer downgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from an outperform rating to a market perform rating in a report published on Tuesday, MarketBeat Ratings reports.

Other equities research analysts have also issued reports about the stock. B. Riley started coverage on shares of Tactile Systems Technology in a research note on Thursday, September 26th. They issued a “buy” rating and a $23.00 price objective on the stock. BTIG Research downgraded Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday. Finally, StockNews.com raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 20th.

Tactile Systems Technology Stock Down 11.1 %

Shares of NASDAQ:TCMD opened at $13.43 on Tuesday. The business has a fifty day simple moving average of $14.03 and a 200 day simple moving average of $13.19. Tactile Systems Technology has a 12-month low of $9.69 and a 12-month high of $16.95. The firm has a market cap of $319.10 million, a P/E ratio of 20.66 and a beta of 1.17. The company has a quick ratio of 3.89, a current ratio of 4.44 and a debt-to-equity ratio of 0.12.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The company had revenue of $73.22 million for the quarter, compared to analyst estimates of $72.62 million. Tactile Systems Technology had a return on equity of 9.38% and a net margin of 5.42%. Analysts predict that Tactile Systems Technology will post 0.64 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Paradigm Capital Management Inc. NY raised its holdings in shares of Tactile Systems Technology by 90.1% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock valued at $14,135,000 after purchasing an additional 561,073 shares during the period. Pinnacle Associates Ltd. boosted its holdings in Tactile Systems Technology by 324.9% in the second quarter. Pinnacle Associates Ltd. now owns 317,024 shares of the company’s stock worth $3,785,000 after acquiring an additional 242,413 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in Tactile Systems Technology in the third quarter worth approximately $1,803,000. Los Angeles Capital Management LLC bought a new stake in shares of Tactile Systems Technology during the second quarter valued at approximately $1,187,000. Finally, Federated Hermes Inc. increased its holdings in shares of Tactile Systems Technology by 26.5% during the second quarter. Federated Hermes Inc. now owns 433,660 shares of the company’s stock valued at $5,178,000 after acquiring an additional 90,960 shares in the last quarter. 83.43% of the stock is owned by institutional investors.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.