Tactile Systems Technology (NASDAQ:TCMD) Stock Rating Lowered by StockNews.com

Tactile Systems Technology (NASDAQ:TCMD) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Monday.

TCMD has been the topic of a number of other reports. Oppenheimer cut shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday, November 5th. Finally, B. Riley began 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 target on the stock.

Tactile Systems Technology Stock Down 3.1 %

Shares of TCMD stock opened at $18.33 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.80 and a current ratio of 4.37. The firm’s 50-day moving average is $14.84 and its 200-day moving average is $13.39. The stock has a market cap of $439.87 million, a price-to-earnings ratio of 28.20 and a beta of 1.17. Tactile Systems Technology has a 52-week low of $11.12 and a 52-week high of $21.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TCMD. Paradigm Capital Management Inc. NY grew its stake in Tactile Systems Technology by 90.1% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock valued at $14,135,000 after buying an additional 561,073 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Tactile Systems Technology by 324.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 317,024 shares of the company’s stock valued at $3,785,000 after buying an additional 242,413 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Tactile Systems Technology during the 3rd quarter worth approximately $1,803,000. Los Angeles Capital Management LLC acquired a new position in shares of Tactile Systems Technology during the 2nd quarter worth approximately $1,187,000. Finally, Federated Hermes Inc. grew its position in shares of Tactile Systems Technology by 26.5% during the 2nd quarter. Federated Hermes Inc. now owns 433,660 shares of the company’s stock worth $5,178,000 after purchasing an additional 90,960 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

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.