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

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

Tactile Systems Technology Stock Performance

Shares of Tactile Systems Technology stock opened at $12.99 on Wednesday. The company’s 50 day moving average price is $12.16 and its two-hundred day moving average price is $13.80. The firm has a market capitalization of $308.64 million, a P/E ratio of 10.83 and a beta of 1.18. Tactile Systems Technology has a fifty-two week low of $9.69 and a fifty-two week high of $19.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.44 and a quick ratio of 3.89.

Institutional Investors Weigh In On Tactile Systems Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cadian Capital Management LP acquired a new stake in shares of Tactile Systems Technology during the fourth quarter valued at about $24,954,000. First Light Asset Management LLC boosted its position in Tactile Systems Technology by 38.1% during the 4th quarter. First Light Asset Management LLC now owns 2,859,954 shares of the company’s stock worth $40,897,000 after buying an additional 788,535 shares during the period. Paradigm Capital Management Inc. NY grew its holdings in Tactile Systems Technology by 90.1% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock worth $14,135,000 after acquiring an additional 561,073 shares during the last quarter. Wasatch Advisors LP acquired a new position in Tactile Systems Technology in the 1st quarter valued at approximately $8,687,000. Finally, Pinnacle Associates Ltd. raised its stake in shares of Tactile Systems Technology by 324.9% during the second quarter. Pinnacle Associates Ltd. now owns 317,024 shares of the company’s stock valued at $3,785,000 after acquiring an additional 242,413 shares during the last quarter. 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.