StockNews.com Downgrades Tactile Systems Technology (NASDAQ:TCMD) to Buy

Tactile Systems Technology (NASDAQ:TCMD) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

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

Tactile Systems Technology Stock Performance

NASDAQ TCMD opened at $17.49 on Thursday. The company has a fifty day moving average of $17.38 and a two-hundred day moving average of $14.75. The company has a market capitalization of $419.71 million, a PE ratio of 26.91 and a beta of 1.21. Tactile Systems Technology has a 1 year low of $11.12 and a 1 year high of $21.10. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.37 and a quick ratio of 3.80.

Hedge Funds Weigh In On Tactile Systems Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI purchased a new stake in Tactile Systems Technology during the third quarter worth about $29,000. Gladius Capital Management LP acquired a new stake in shares of Tactile Systems Technology during the 3rd quarter valued at approximately $44,000. Quarry LP purchased a new stake in shares of Tactile Systems Technology during the 2nd quarter worth approximately $46,000. Rhumbline Advisers grew its holdings in shares of Tactile Systems Technology by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 39,318 shares of the company’s stock worth $469,000 after acquiring an additional 4,099 shares during the period. Finally, Tidal Investments LLC raised its holdings in Tactile Systems Technology by 20.9% during the third quarter. Tidal Investments LLC now owns 25,957 shares of the company’s stock worth $379,000 after purchasing an additional 4,483 shares during the last quarter. 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.