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 report released on Friday morning.

Tactile Systems Technology Stock Performance

TCMD opened at $14.17 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.89 and a current ratio of 4.44. The stock has a market capitalization of $336.71 million, a price-to-earnings ratio of 11.81 and a beta of 1.17. The company has a fifty day moving average of $13.06 and a 200 day moving average of $13.48. Tactile Systems Technology has a fifty-two week low of $9.69 and a fifty-two week high of $16.95.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, August 5th. The company reported $0.20 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $72.62 million. As a group, sell-side analysts forecast that Tactile Systems Technology will post 0.63 earnings per share for the current fiscal year.

Institutional Trading of Tactile Systems Technology

Hedge funds have recently modified their holdings of the company. First Light Asset Management LLC grew its holdings in shares of Tactile Systems Technology by 38.1% in the fourth quarter. First Light Asset Management LLC now owns 2,859,954 shares of the company’s stock valued at $40,897,000 after purchasing an additional 788,535 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Tactile Systems Technology in the 1st quarter worth $815,000. Wasatch Advisors LP bought a new stake in shares of Tactile Systems Technology in the 1st quarter worth about $8,687,000. WINTON GROUP Ltd bought a new stake in shares of Tactile Systems Technology in the 2nd quarter worth about $706,000. Finally, Federated Hermes Inc. raised its position in shares of Tactile Systems Technology by 26.5% during the 2nd quarter. Federated Hermes Inc. now owns 433,660 shares of the company’s stock valued at $5,178,000 after buying an additional 90,960 shares in the last quarter. 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.