Tactile Systems Technology (NASDAQ:TCMD) Raised to Strong-Buy at 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 published on Tuesday morning.

Tactile Systems Technology Stock Performance

Shares of TCMD stock opened at $13.99 on Tuesday. Tactile Systems Technology has a one year low of $9.69 and a one year high of $26.11. The company has a market cap of $332.39 million, a P/E ratio of 11.71 and a beta of 1.23. The firm has a 50-day moving average of $15.19 and a 200-day moving average of $14.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.54 and a quick ratio of 2.99.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.13 by $0.25. The firm had revenue of $77.65 million during the quarter, compared to analyst estimates of $78.85 million. Tactile Systems Technology had a net margin of 10.39% and a return on equity of 17.08%. During the same quarter last year, the business posted $0.29 EPS. Equities research analysts forecast that Tactile Systems Technology will post 0.56 EPS for the current fiscal year.

Insider Activity at Tactile Systems Technology

In other Tactile Systems Technology news, CEO Daniel L. Reuvers sold 6,239 shares of Tactile Systems Technology stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $15.81, for a total value of $98,638.59. Following the sale, the chief executive officer now owns 244,112 shares of the company’s stock, valued at $3,859,410.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Daniel L. Reuvers sold 5,378 shares of Tactile Systems Technology stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $14.85, for a total value of $79,863.30. Following the completion of the transaction, the chief executive officer now directly owns 192,321 shares in the company, valued at approximately $2,855,966.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel L. Reuvers sold 6,239 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.81, for a total value of $98,638.59. Following the completion of the transaction, the chief executive officer now owns 244,112 shares of the company’s stock, valued at approximately $3,859,410.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,335 shares of company stock worth $280,532. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Hedge funds have recently bought and sold shares of the company. Arcadia Investment Management Corp MI raised its position in shares of Tactile Systems Technology by 94.8% in the first quarter. Arcadia Investment Management Corp MI now owns 1,570 shares of the company’s stock worth $25,000 after buying an additional 764 shares in the last quarter. Covestor Ltd increased its position in shares of Tactile Systems Technology by 69.4% in the third quarter. Covestor Ltd now owns 2,872 shares of the company’s stock worth $40,000 after purchasing an additional 1,177 shares during the last quarter. New York State Common Retirement Fund lifted its position in Tactile Systems Technology by 11.9% during the fourth quarter. New York State Common Retirement Fund now owns 12,019 shares of the company’s stock valued at $172,000 after purchasing an additional 1,274 shares during the last quarter. Palisade Asset Management LLC purchased a new position in Tactile Systems Technology in the 1st quarter worth approximately $32,000. Finally, New York State Teachers Retirement System bought a new position in shares of Tactile Systems Technology in the 3rd quarter worth $29,000. 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.