B. Riley Begins Coverage on Tactile Systems Technology (NASDAQ:TCMD)

B. Riley initiated coverage on shares of Tactile Systems Technology (NASDAQ:TCMD) in a report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $23.00 price objective on the stock.

Separately, StockNews.com raised shares of Tactile Systems Technology from a buy rating to a strong-buy rating in a research note on Friday, September 20th.

Tactile Systems Technology Stock Performance

Shares of NASDAQ:TCMD opened at $14.22 on Thursday. Tactile Systems Technology has a 52 week low of $9.69 and a 52 week high of $16.95. The stock has a market capitalization of $337.87 million, a P/E ratio of 11.85 and a beta of 1.17. The firm has a fifty day simple moving average of $13.22 and a two-hundred day simple moving average of $13.45. The company has a quick ratio of 3.89, a current ratio of 4.44 and a debt-to-equity ratio of 0.12.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. Tactile Systems Technology had a net margin of 11.57% and a return on equity of 16.94%. The business had revenue of $73.22 million during the quarter, compared to analysts’ expectations of $72.62 million. On average, analysts expect that Tactile Systems Technology will post 0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tactile Systems Technology

A number of large investors have recently made changes to their positions in TCMD. Palisade Asset Management LLC purchased a new position in shares of Tactile Systems Technology during the 1st quarter worth about $32,000. Quarry LP bought a new stake in Tactile Systems Technology during the 2nd quarter valued at about $46,000. Magnetar Financial LLC bought a new stake in Tactile Systems Technology during the 2nd quarter valued at about $130,000. RiverPark Advisors LLC lifted its holdings in Tactile Systems Technology by 802.5% during the 1st quarter. RiverPark Advisors LLC now owns 8,610 shares of the company’s stock valued at $140,000 after buying an additional 7,656 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Tactile Systems Technology during the 1st quarter valued at about $166,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

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.