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

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

Several other research firms have also recently weighed in on TCMD. TheStreet upgraded shares of Tactile Systems Technology from a “d+” rating to a “c-” rating in a research report on Tuesday, May 23rd. Oppenheimer lifted their price objective on shares of Tactile Systems Technology from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 8th.

Tactile Systems Technology Price Performance

Shares of NASDAQ TCMD traded down $1.92 during trading on Monday, hitting $14.50. The company had a trading volume of 1,145,911 shares, compared to its average volume of 275,076. The company has a market cap of $340.18 million, a P/E ratio of 483.33 and a beta of 1.20. Tactile Systems Technology has a 52 week low of $6.52 and a 52 week high of $26.11. The business’s 50-day moving average is $20.21 and its 200 day moving average is $19.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.08.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Monday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $68.34 million for the quarter, compared to analysts’ expectations of $65.48 million. Tactile Systems Technology had a return on equity of 5.89% and a net margin of 0.13%. Equities research analysts predict that Tactile Systems Technology will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tactile Systems Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new stake in Tactile Systems Technology in the first quarter worth $32,000. PNC Financial Services Group Inc. boosted its holdings in Tactile Systems Technology by 219.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,016 shares of the company’s stock worth $40,000 after purchasing an additional 1,385 shares in the last quarter. Covestor Ltd bought a new stake in Tactile Systems Technology in the second quarter worth $42,000. Teachers Retirement System of The State of Kentucky bought a new stake in Tactile Systems Technology in the third quarter worth $43,000. Finally, UBS Group AG boosted its holdings in Tactile Systems Technology by 25.1% in the third quarter. UBS Group AG now owns 6,349 shares of the company’s stock worth $50,000 after purchasing an additional 1,274 shares in the last quarter. 85.97% of the stock is currently owned by hedge funds and other institutional investors.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema; Entre 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; Kylee, a mobile application to help patients learn about lymphedema, track their symptoms, treatment, and share their progress with their doctor; and AffloVest, a portable high frequency chest wall oscillation vest for the treatment of retained pulmonary secretions, such as bronchiectasis, cystic fibrosis, and various neuromuscular disorders.