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

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

Tactile Systems Technology Price Performance

Tactile Systems Technology stock traded up $0.25 during trading hours on Tuesday, hitting $14.44. 471,719 shares of the stock were exchanged, compared to its average volume of 276,443. Tactile Systems Technology has a 12 month low of $9.69 and a 12 month high of $26.11. The business’s 50-day moving average is $15.25 and its two-hundred day moving average is $14.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.99 and a current ratio of 3.54. The stock has a market capitalization of $343.09 million, a P/E ratio of 12.03 and a beta of 1.23.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.25. Tactile Systems Technology had a return on equity of 17.08% and a net margin of 10.39%. The business had revenue of $77.65 million for the quarter, compared to analyst estimates of $78.85 million. During the same period in the prior year, the company earned $0.29 EPS. Equities research analysts expect that Tactile Systems Technology will post 0.56 EPS for the current fiscal year.

Insider Activity at Tactile Systems Technology

In other news, CEO Daniel L. Reuvers sold 6,239 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $15.81, for a total value of $98,638.59. Following the transaction, the chief executive officer now owns 244,112 shares of the company’s stock, valued at approximately $3,859,410.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Kristie Burns sold 2,249 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $14.80, for a total value of $33,285.20. Following the sale, the vice president now directly owns 53,765 shares in the company, valued at approximately $795,722. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel L. Reuvers sold 6,239 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.81, for a total transaction of $98,638.59. Following the transaction, the chief executive officer now owns 244,112 shares of the company’s stock, valued at approximately $3,859,410.72. The disclosure for this sale can be found here. Insiders have sold a total of 17,520 shares of company stock worth $268,820 over the last 90 days. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Tactile Systems Technology

Several institutional investors and hedge funds have recently made changes to their positions in TCMD. First Light Asset Management LLC raised its holdings in Tactile Systems Technology by 38.1% during the 4th quarter. First Light Asset Management LLC now owns 2,859,954 shares of the company’s stock worth $40,897,000 after buying an additional 788,535 shares during the period. Cadian Capital Management LP acquired a new stake in shares of Tactile Systems Technology during the fourth quarter worth $24,954,000. Vanguard Group Inc. lifted its position in Tactile Systems Technology by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,370,403 shares of the company’s stock valued at $19,254,000 after acquiring an additional 9,863 shares in the last quarter. FMR LLC boosted its stake in Tactile Systems Technology by 62.1% in the 3rd quarter. FMR LLC now owns 579,392 shares of the company’s stock worth $8,140,000 after purchasing an additional 222,012 shares during the period. Finally, Wasatch Advisors LP bought a new position in Tactile Systems Technology during the 1st quarter worth about $8,687,000. 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.