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

StockNews.com upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a strong-buy rating in a research note released on Thursday morning.

Tactile Systems Technology Stock Up 3.2 %

Shares of TCMD opened at $11.94 on Thursday. The company’s 50-day moving average price is $12.95 and its 200 day moving average price is $14.26. The firm has a market cap of $283.72 million, a P/E ratio of 9.95 and a beta of 1.24. Tactile Systems Technology has a 12-month low of $9.69 and a 12-month high of $26.11. The company has a current ratio of 4.26, a quick ratio of 3.63 and a debt-to-equity ratio of 0.13.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06. Tactile Systems Technology had a return on equity of 15.88% and a net margin of 10.19%. The firm had revenue of $61.09 million for the quarter, compared to analyst estimates of $59.10 million. On average, sell-side analysts forecast that Tactile Systems Technology will post 0.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Elaine M. Birkemeyer sold 3,041 shares of Tactile Systems Technology stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $13.68, for a total value of $41,600.88. Following the completion of the transaction, the chief financial officer now owns 61,295 shares in the company, valued at $838,515.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 3,041 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $13.68, for a total value of $41,600.88. Following the transaction, the chief financial officer now directly owns 61,295 shares in the company, valued at $838,515.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William W. Burke sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $14.06, for a total transaction of $35,150.00. Following the completion of the sale, the director now directly owns 25,273 shares of the company’s stock, valued at $355,338.38. The disclosure for this sale can be found here. Insiders have sold a total of 6,356 shares of company stock worth $88,462 in the last quarter. 0.96% of the stock is owned by company insiders.

Institutional Trading of Tactile Systems Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new stake in Tactile Systems Technology in the 1st quarter valued at approximately $189,000. Janus Henderson Group PLC purchased a new stake in Tactile Systems Technology in the 1st quarter worth approximately $815,000. Price T Rowe Associates Inc. MD boosted its stake in Tactile Systems Technology by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,371 shares of the company’s stock worth $283,000 after buying an additional 1,159 shares during the last quarter. Acadian Asset Management LLC increased its position in Tactile Systems Technology by 17.4% during the first quarter. Acadian Asset Management LLC now owns 120,112 shares of the company’s stock worth $1,950,000 after purchasing an additional 17,810 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Tactile Systems Technology by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,383,366 shares of the company’s stock worth $22,480,000 after buying an additional 13,350 shares during the period. 83.43% of the stock is owned by institutional investors and hedge funds.

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.