Tactile Systems Technology (NASDAQ:TCMD) Stock Gets Downgrade from Wall Street Zen

Tactile Systems Technology (NASDAQ:TCMD) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

TCMD has been the subject of a number of other reports. Weiss Ratings downgraded shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, November 3rd. BTIG Research dropped their target price on shares of Tactile Systems Technology from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, November 3rd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Tactile Systems Technology Price Performance

Tactile Systems Technology stock opened at $26.59 on Friday. The stock has a market capitalization of $594.02 million, a PE ratio of 26.39 and a beta of 0.95. Tactile Systems Technology has a 12 month low of $20.53 and a 12 month high of $37.77. The business has a 50 day simple moving average of $23.00 and a 200-day simple moving average of $25.80.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, November 2nd. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. Tactile Systems Technology had a return on equity of 10.73% and a net margin of 6.68%. The business had revenue of $91.86 million during the quarter, compared to the consensus estimate of $91.99 million. On average, equities research analysts anticipate that Tactile Systems Technology will post 1.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William W. Burke sold 5,000 shares of Tactile Systems Technology stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $27.00, for a total transaction of $135,000.00. Following the transaction, the director owned 50,041 shares in the company, valued at approximately $1,351,107. This trade represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Laura G. King sold 4,800 shares of Tactile Systems Technology stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $25.00, for a total value of $120,000.00. Following the transaction, the director owned 20,769 shares in the company, valued at approximately $519,225. The trade was a 18.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Tactile Systems Technology

Several large investors have recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new position in Tactile Systems Technology during the first quarter worth about $71,000. Versant Capital Management Inc raised its stake in shares of Tactile Systems Technology by 36.4% in the 2nd quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock valued at $98,000 after acquiring an additional 876 shares during the period. Quantbot Technologies LP acquired a new position in shares of Tactile Systems Technology in the 2nd quarter worth approximately $101,000. IFP Advisors Inc lifted its holdings in shares of Tactile Systems Technology by 24.3% in the 2nd quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock worth $107,000 after acquiring an additional 704 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Tactile Systems Technology in the 2nd quarter worth approximately $182,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

About Tactile Systems Technology

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.