Tactile Systems Technology (NASDAQ:TCMD) Downgraded by Oppenheimer to Market Perform

Tactile Systems Technology (NASDAQ:TCMD) was downgraded by research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, Briefing.com reports.

A number of other research firms also recently commented on TCMD. B. Riley started coverage on shares of Tactile Systems Technology in a research note on Thursday, September 26th. They set a “buy” rating and a $23.00 price objective for the company. StockNews.com raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 20th. Finally, BTIG Research downgraded shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Tuesday.

Tactile Systems Technology Trading Up 2.9 %

TCMD opened at $15.11 on Tuesday. The stock has a market capitalization of $359.01 million, a P/E ratio of 10.95 and a beta of 1.17. The company has a current ratio of 4.44, a quick ratio of 3.89 and a debt-to-equity ratio of 0.12. Tactile Systems Technology has a 12 month low of $9.69 and a 12 month high of $16.95. The firm’s fifty day simple moving average is $14.03 and its 200 day simple moving average is $13.20.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results 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 return on equity of 16.94% and a net margin of 11.57%. The firm had revenue of $73.22 million for the quarter, compared to analysts’ expectations of $72.62 million. As a group, research analysts anticipate that Tactile Systems Technology will post 0.64 EPS for the current fiscal year.

Institutional Trading of Tactile Systems Technology

A number of hedge funds have recently modified their holdings of TCMD. Arcadia Investment Management Corp MI acquired a new position in shares of Tactile Systems Technology in the third quarter valued at approximately $29,000. Quarry LP acquired a new position in Tactile Systems Technology in the 2nd quarter valued at $46,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Tactile Systems Technology during the first quarter worth $166,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Tactile Systems Technology in the first quarter valued at about $171,000. Finally, SG Americas Securities LLC acquired a new position in shares of Tactile Systems Technology in the third quarter valued at about $156,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

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.