Tactile Systems Technology (NASDAQ:TCMD) Downgraded to “Neutral” Rating by B. Riley

Tactile Systems Technology (NASDAQ:TCMD) was downgraded by stock analysts at B. Riley from a “buy” rating to a “neutral” rating in a research report issued on Wednesday,Briefing.com Automated Import reports. They currently have a $18.00 price target on the stock, down from their previous price target of $23.00. B. Riley’s price objective suggests a potential upside of 0.78% from the company’s current price.

A number of other research firms also recently weighed in on TCMD. StockNews.com downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. BTIG Research downgraded shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 5th. Finally, Oppenheimer downgraded shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th.

Tactile Systems Technology Stock Performance

Shares of TCMD opened at $17.86 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.80 and a current ratio of 4.37. The company has a market capitalization of $428.64 million, a price-to-earnings ratio of 27.48 and a beta of 1.20. The company’s 50 day simple moving average is $17.45 and its 200 day simple moving average is $15.61. Tactile Systems Technology has a 1 year low of $11.12 and a 1 year high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.09. Tactile Systems Technology had a net margin of 5.42% and a return on equity of 9.24%. On average, sell-side analysts predict that Tactile Systems Technology will post 0.72 EPS for the current year.

Institutional Investors Weigh In On Tactile Systems Technology

Several large investors have recently made changes to their positions in TCMD. Millennium Management LLC acquired a new stake in shares of Tactile Systems Technology in the fourth quarter worth $2,793,000. Norges Bank acquired a new stake in Tactile Systems Technology during the 4th quarter valued at $2,534,000. Renaissance Technologies LLC grew its holdings in Tactile Systems Technology by 44.0% during the 4th quarter. Renaissance Technologies LLC now owns 451,100 shares of the company’s stock valued at $7,727,000 after purchasing an additional 137,900 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Tactile Systems Technology during the 4th quarter valued at $1,328,000. Finally, Dimensional Fund Advisors LP grew its holdings in Tactile Systems Technology by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company’s stock valued at $15,444,000 after purchasing an additional 67,934 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

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.