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

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was the recipient of 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 trading volume of 265,100 shares, the short-interest ratio is presently 5.3 days.

Tactile Systems Technology Price Performance

Shares of TCMD stock traded up $0.09 during mid-day trading on Friday, hitting $17.52. The company had a trading volume of 22,910 shares, compared to its average volume of 183,062. Tactile Systems Technology has a 52-week low of $11.12 and a 52-week high of $21.10. 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 stock’s 50 day moving average price is $17.42 and its 200-day moving average price is $14.77. The company has a market capitalization of $420.36 million, a P/E ratio of 26.95 and a beta of 1.21.

Institutional Trading of Tactile Systems Technology

Several hedge funds have recently modified their holdings of the company. Paradigm Capital Management Inc. NY lifted its stake in shares of Tactile Systems Technology by 90.1% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock valued at $14,135,000 after purchasing an additional 561,073 shares during the last quarter. Wasatch Advisors LP raised its stake in shares of Tactile Systems Technology by 9.8% in the third quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock valued at $10,624,000 after acquiring an additional 64,684 shares during the period. Royce & Associates LP raised its stake in shares of Tactile Systems Technology by 2.5% in the third quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock valued at $8,956,000 after acquiring an additional 14,780 shares during the period. Geode Capital Management LLC grew its holdings in Tactile Systems Technology by 1.5% during 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 during the last quarter. Finally, Federated Hermes Inc. raised its position in Tactile Systems Technology by 26.5% in the 2nd quarter. Federated Hermes Inc. now owns 433,660 shares of the company’s stock worth $5,178,000 after purchasing an additional 90,960 shares during the period. 83.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. BTIG Research downgraded 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. Oppenheimer cut shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Finally, B. Riley began coverage on shares of Tactile Systems Technology in a research note on Thursday, September 26th. They set a “buy” rating and a $23.00 target price on the 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.