Short Interest in Tactile Systems Technology, Inc. (NASDAQ:TCMD) Rises By 32.1%

Tactile Systems Technology, Inc. (NASDAQ:TCMD) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,400,000 shares, an increase of 32.1% from the December 15th total of 1,060,000 shares. Based on an average daily trading volume, of 265,100 shares, the short-interest ratio is currently 5.3 days.

Tactile Systems Technology Stock Performance

Shares of TCMD traded down $0.06 on Thursday, reaching $17.43. 218,936 shares of the stock traded hands, compared to its average volume of 199,461. The stock’s 50-day moving average price is $17.38 and its 200-day moving average price is $14.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.37 and a quick ratio of 3.80. The firm has a market cap of $418.27 million, a price-to-earnings ratio of 26.82 and a beta of 1.21. Tactile Systems Technology has a 12 month low of $11.12 and a 12 month high of $21.10.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BTIG Research cut Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 5th. StockNews.com downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Thursday. B. Riley assumed coverage on shares of Tactile Systems Technology in a report on Thursday, September 26th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Oppenheimer lowered shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th.

Hedge Funds Weigh In On Tactile Systems Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in TCMD. Retireful LLC acquired a new position in shares of Tactile Systems Technology in the 4th quarter worth approximately $173,000. Tidal Investments LLC raised its stake in Tactile Systems Technology by 20.9% during the third quarter. Tidal Investments LLC now owns 25,957 shares of the company’s stock worth $379,000 after acquiring an additional 4,483 shares in the last quarter. Barclays PLC raised its stake in Tactile Systems Technology by 56.7% during the third quarter. Barclays PLC now owns 66,885 shares of the company’s stock worth $977,000 after acquiring an additional 24,188 shares in the last quarter. Hohimer Wealth Management LLC bought a new position in shares of Tactile Systems Technology during the third quarter valued at $320,000. Finally, Geode Capital Management LLC boosted its stake in shares of Tactile Systems Technology by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock valued at $8,164,000 after purchasing an additional 8,422 shares in the last quarter. 83.43% of the stock is owned by institutional investors.

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.