Tactile Systems Technology (NASDAQ:TCMD) Share Price Crosses Below Fifty Day Moving Average – Here’s Why

Tactile Systems Technology, Inc. (NASDAQ:TCMD)’s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $17.79 and traded as low as $17.09. Tactile Systems Technology shares last traded at $17.34, with a volume of 169,026 shares traded.

Analysts Set New Price Targets

A number of brokerages have issued reports on TCMD. StockNews.com downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Oppenheimer cut shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Finally, BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 5th.

Tactile Systems Technology Price Performance

The business’s 50 day moving average price is $17.79 and its two-hundred day moving average price is $15.26. The stock has a market cap of $416.16 million, a P/E ratio of 26.68 and a beta of 1.20. The company has a current ratio of 4.37, a quick ratio of 3.80 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Tactile Systems Technology

A number of large investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in Tactile Systems Technology by 1.6% during the fourth quarter. Rhumbline Advisers now owns 38,033 shares of the company’s stock worth $651,000 after acquiring an additional 581 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Tactile Systems Technology by 12.7% during the fourth quarter. SG Americas Securities LLC now owns 12,032 shares of the company’s stock valued at $206,000 after purchasing an additional 1,354 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Tactile Systems Technology by 9.9% during the fourth quarter. Principal Financial Group Inc. now owns 20,401 shares of the company’s stock valued at $349,000 after purchasing an additional 1,836 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tactile Systems Technology during the third quarter valued at approximately $29,000. Finally, Gladius Capital Management LP purchased a new stake in Tactile Systems Technology during the third quarter valued at approximately $44,000. Institutional investors 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.