Tactile Systems Technology (NASDAQ:TCMD) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a strong-buy rating in a report released on Friday.

Several other research firms also recently issued reports on TCMD. BTIG Research downgraded shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 5th. B. Riley started coverage on Tactile Systems Technology in a research report on Thursday, September 26th. They set a “buy” rating and a $23.00 target price for the company. Finally, Oppenheimer lowered Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th.

Tactile Systems Technology Trading Up 0.3 %

TCMD opened at $17.00 on Friday. The company’s 50 day moving average is $16.32 and its 200-day moving average is $14.03. The company has a market cap of $407.95 million, a P/E ratio of 26.15 and a beta of 1.20. Tactile Systems Technology has a 1-year low of $11.12 and a 1-year high of $21.10. The company has a current ratio of 4.37, a quick ratio of 3.80 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Tactile Systems Technology

Several institutional investors have recently added to or reduced their stakes in TCMD. Paradigm Capital Management Inc. NY grew its position in shares of Tactile Systems Technology by 90.1% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock worth $14,135,000 after buying an additional 561,073 shares during the period. Pinnacle Associates Ltd. grew 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 purchasing an additional 242,413 shares during the period. Essex Investment Management Co. LLC acquired a new stake in Tactile Systems Technology in the third quarter worth $1,803,000. Los Angeles Capital Management LLC bought a new stake in Tactile Systems Technology in the second quarter valued at $1,187,000. Finally, Federated Hermes Inc. raised 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 purchasing an additional 90,960 shares during the period. 83.43% of the stock is owned by institutional investors and hedge funds.

About Tactile Systems Technology

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.