Tactile Systems Technology (NASDAQ:TCMD) Upgraded by Wall Street Zen to Buy Rating

Tactile Systems Technology (NASDAQ:TCMD) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other equities research analysts have also weighed in on TCMD. B. Riley restated a “neutral” rating and set a $13.00 price target (up previously from $12.00) on shares of Tactile Systems Technology in a research note on Tuesday. William Blair upgraded Tactile Systems Technology to a “strong-buy” rating in a research report on Tuesday. Finally, Piper Sandler downgraded Tactile Systems Technology from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $25.00 to $14.00 in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Tactile Systems Technology Stock Performance

TCMD stock opened at $12.28 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.79 and a quick ratio of 3.99. The business has a 50-day moving average price of $10.26 and a 200 day moving average price of $12.56. The company has a market capitalization of $273.72 million, a P/E ratio of 19.81 and a beta of 0.96. Tactile Systems Technology has a 1-year low of $8.61 and a 1-year high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, August 4th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $78.91 million during the quarter, compared to the consensus estimate of $73.93 million. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. As a group, equities research analysts forecast that Tactile Systems Technology will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at Tactile Systems Technology

In other news, CFO Elaine M. Birkemeyer sold 2,921 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $9.94, for a total transaction of $29,034.74. Following the completion of the transaction, the chief financial officer directly owned 99,111 shares of the company’s stock, valued at $985,163.34. This represents a 2.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in Tactile Systems Technology by 64,350.0% in the 1st quarter. GAMMA Investing LLC now owns 2,578 shares of the company’s stock valued at $34,000 after purchasing an additional 2,574 shares during the last quarter. Virtus Fund Advisers LLC increased its position in shares of Tactile Systems Technology by 142.0% during the 4th quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company’s stock worth $72,000 after purchasing an additional 2,464 shares during the last quarter. Quarry LP acquired a new stake in shares of Tactile Systems Technology during the 4th quarter worth about $81,000. Legal & General Group Plc grew its position in Tactile Systems Technology by 33.2% in the 4th quarter. Legal & General Group Plc now owns 6,257 shares of the company’s stock valued at $107,000 after acquiring an additional 1,558 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new position in Tactile Systems Technology in the 2nd quarter valued at about $134,000. 83.43% of the stock is 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.