Tactile Systems Technology (NASDAQ:TCMD) Upgraded by StockNews.com to Strong-Buy Rating

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

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

Tactile Systems Technology Stock Up 0.3 %

Shares of NASDAQ:TCMD opened at $17.00 on Friday. The company has a market cap of $407.95 million, a price-to-earnings ratio of 26.15 and a beta of 1.20. Tactile Systems Technology has a fifty-two week low of $11.12 and a fifty-two week high of $21.10. The firm’s 50-day simple moving average is $16.32 and its 200-day simple moving average is $14.05. The company has a quick ratio of 3.80, a current ratio of 4.37 and a debt-to-equity ratio of 0.12.

Institutional Trading of Tactile Systems Technology

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Tactile Systems Technology by 14.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,752 shares of the company’s stock worth $2,182,000 after purchasing an additional 23,296 shares in the last quarter. Bailard Inc. purchased a new stake in Tactile Systems Technology in the second quarter valued at approximately $260,000. Allspring Global Investments Holdings LLC increased its position in Tactile Systems Technology by 27.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 33,373 shares of the company’s stock worth $398,000 after purchasing an additional 7,287 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in Tactile Systems Technology by 324.9% during 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. Finally, Rhumbline Advisers grew its stake in shares of Tactile Systems Technology by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 39,318 shares of the company’s stock valued at $469,000 after buying an additional 4,099 shares during the period. Institutional investors and hedge funds own 83.43% of the company’s stock.

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.