StockNews.com Downgrades Tactile Systems Technology (NASDAQ:TCMD) to Buy

StockNews.com lowered shares of Tactile Systems Technology (NASDAQ:TCMD) from a strong-buy rating to a buy rating in a research note published on Monday.

Other analysts also recently issued research reports about the stock. Oppenheimer downgraded shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. B. Riley assumed coverage on shares of Tactile Systems Technology in a report on Thursday, September 26th. They set a “buy” rating and a $23.00 price target on the stock. Finally, BTIG Research downgraded shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday, November 5th.

Tactile Systems Technology Stock Performance

Shares of TCMD stock opened at $18.93 on Monday. Tactile Systems Technology has a one year low of $11.12 and a one year high of $21.10. The company’s 50-day moving average is $15.04 and its 200 day moving average is $13.47. The company has a market capitalization of $454.32 million, a price-to-earnings ratio of 29.12 and a beta of 1.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.80 and a current ratio of 4.37.

Hedge Funds Weigh In On Tactile Systems Technology

A number of institutional investors and hedge funds have recently made changes to their positions in TCMD. State Board of Administration of Florida Retirement System purchased a new position in shares of Tactile Systems Technology in the first quarter worth approximately $171,000. Vanguard Group Inc. boosted its holdings in shares of Tactile Systems Technology by 1.0% in the first 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 last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tactile Systems Technology by 7.1% in the first 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. Janus Henderson Group PLC purchased a new position in shares of Tactile Systems Technology in the first quarter worth approximately $815,000. Finally, Tidal Investments LLC purchased a new position in shares of Tactile Systems Technology in the first quarter worth approximately $189,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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.