Tactile Systems Technology (NASDAQ:TCMD) Share Price Crosses Below Fifty Day Moving Average – Here’s Why

Tactile Systems Technology, Inc. (NASDAQ:TCMD)’s share price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $17.79 and traded as low as $17.09. Tactile Systems Technology shares last traded at $17.34, with a volume of 169,026 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. StockNews.com lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. BTIG Research lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 5th. Finally, Oppenheimer downgraded Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th.

Tactile Systems Technology Stock Performance

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 stock’s 50-day moving average is $17.79 and its 200 day moving average is $15.26. The firm has a market cap of $416.16 million, a P/E ratio of 26.68 and a beta of 1.20.

Institutional Investors Weigh In On Tactile Systems Technology

Several hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP lifted its stake in Tactile Systems Technology by 9.8% in the 3rd quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock valued at $10,624,000 after purchasing an additional 64,684 shares during the last quarter. Royce & Associates LP lifted its position in Tactile Systems Technology by 2.5% during the third quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock worth $8,956,000 after acquiring an additional 14,780 shares during the last quarter. Geode Capital Management LLC lifted its position in Tactile Systems Technology by 1.5% during the third quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock worth $8,164,000 after acquiring an additional 8,422 shares during the last quarter. AQR Capital Management LLC lifted its position in Tactile Systems Technology by 1.9% during the second quarter. AQR Capital Management LLC now owns 269,431 shares of the company’s stock worth $3,217,000 after acquiring an additional 4,961 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Tactile Systems Technology by 36.6% during the third quarter. Los Angeles Capital Management LLC now owns 135,796 shares of the company’s stock worth $1,984,000 after acquiring an additional 36,409 shares during the last quarter. 83.43% of the stock is currently 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.