Tactile Systems Technology (NASDAQ:TCMD) Downgraded by B. Riley to “Neutral”

B. Riley cut shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a neutral rating in a research report released on Wednesday morning, Marketbeat reports. The brokerage currently has $18.00 target price on the stock, down from their prior target price of $23.00.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 5th. Finally, Oppenheimer cut shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th.

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock opened at $15.49 on Wednesday. The company has a current ratio of 4.37, a quick ratio of 3.80 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $371.76 million, a price-to-earnings ratio of 23.83 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 firm’s 50-day moving average price is $17.38 and its two-hundred day moving average price is $15.65.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. The firm had revenue of $85.59 million for the quarter, compared to analysts’ expectations of $85.39 million. Tactile Systems Technology had a net margin of 5.42% and a return on equity of 9.24%. On average, equities analysts predict that Tactile Systems Technology will post 0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tactile Systems Technology

Large investors have recently bought and sold shares of the business. Arcadia Investment Management Corp MI acquired a new position in Tactile Systems Technology in the third quarter valued at approximately $29,000. Jones Financial Companies Lllp acquired a new position in Tactile Systems Technology in the fourth quarter valued at approximately $39,000. Gladius Capital Management LP acquired a new position in Tactile Systems Technology in the third quarter valued at approximately $44,000. Virtus Fund Advisers LLC lifted its holdings in Tactile Systems Technology by 142.0% in the fourth quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company’s stock valued at $72,000 after buying an additional 2,464 shares during the period. Finally, Quarry LP acquired a new position in Tactile Systems Technology in the fourth quarter valued at approximately $81,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

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.