Tactile Systems Technology (NASDAQ:TCMD) Lowered to Buy Rating by StockNews.com

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

Separately, B. Riley downgraded Tactile Systems Technology from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $18.00 in a research note on Wednesday, February 19th.

Tactile Systems Technology Price Performance

Shares of NASDAQ:TCMD opened at $13.00 on Friday. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $306.61 million, a PE ratio of 18.57 and a beta of 1.24. The firm’s 50 day moving average price is $15.48 and its 200-day moving average price is $15.83. Tactile Systems Technology has a twelve month low of $11.12 and a twelve month high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. The business had revenue of $85.59 million for the quarter, compared to analysts’ expectations of $85.39 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. Equities research analysts expect that Tactile Systems Technology will post 0.7 EPS for the current year.

Insider Activity

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 3,778 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $14.70, for a total value of $55,536.60. Following the completion of the transaction, the chief financial officer now directly owns 104,098 shares in the company, valued at $1,530,240.60. This represents a 3.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel L. Reuvers sold 10,938 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $14.55, for a total transaction of $159,147.90. Following the sale, the director now owns 242,942 shares in the company, valued at approximately $3,534,806.10. The trade was a 4.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock worth $285,444 in the last three months. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in Tactile Systems Technology during the 4th quarter valued at approximately $39,000. Virtus Fund Advisers LLC grew its holdings in shares of Tactile Systems Technology by 142.0% in the fourth quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company’s stock valued at $72,000 after purchasing an additional 2,464 shares in the last quarter. Quarry LP bought a new stake in Tactile Systems Technology in the fourth quarter worth $81,000. 1620 Investment Advisors Inc. purchased a new stake in Tactile Systems Technology during the fourth quarter valued at $97,000. Finally, Legal & General Group Plc lifted its position in Tactile Systems Technology by 33.2% during the fourth quarter. Legal & General Group Plc now owns 6,257 shares of the company’s stock valued at $107,000 after purchasing an additional 1,558 shares during the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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.