B. Riley upgraded shares of Tactile Systems Technology (NASDAQ:TCMD – Free Report) to a strong-buy rating in a research report report published on Wednesday morning, Zacks.com reports.
Separately, StockNews.com raised shares of Tactile Systems Technology from a buy rating to a strong-buy rating in a report on Friday, September 20th.
View Our Latest Stock Analysis on TCMD
Tactile Systems Technology Price Performance
Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $73.22 million during the quarter, compared to analyst estimates of $72.62 million. On average, equities analysts predict that Tactile Systems Technology will post 0.63 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Tactile Systems Technology
A number of institutional investors and hedge funds have recently made changes to their positions in TCMD. BNP Paribas Financial Markets raised its stake in shares of Tactile Systems Technology by 117.7% in the 4th quarter. BNP Paribas Financial Markets now owns 46,796 shares of the company’s stock valued at $669,000 after acquiring an additional 25,305 shares during the period. Cadian Capital Management LP purchased a new stake in shares of Tactile Systems Technology in the 4th quarter valued at approximately $24,954,000. First Light Asset Management LLC raised its stake in shares of Tactile Systems Technology by 38.1% in the 4th quarter. First Light Asset Management LLC now owns 2,859,954 shares of the company’s stock valued at $40,897,000 after acquiring an additional 788,535 shares during the period. Wasatch Advisors LP purchased a new stake in shares of Tactile Systems Technology in the 1st quarter valued at approximately $8,687,000. Finally, Pinnacle Associates Ltd. increased its stake in Tactile Systems Technology by 30.2% during the 1st quarter. Pinnacle Associates Ltd. now owns 74,611 shares of the company’s stock worth $1,212,000 after buying an additional 17,328 shares during the period. 83.43% of the stock is owned by hedge funds and other institutional investors.
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.
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