Tactile Systems Technology (NASDAQ:TCMD) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Other equities analysts also recently issued research reports about the stock. Piper Sandler downgraded shares of Tactile Systems Technology from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $25.00 to $14.00 in a research note on Tuesday, May 6th. William Blair upgraded shares of Tactile Systems Technology to a “strong-buy” rating in a research note on Tuesday, August 5th. Finally, B. Riley restated a “neutral” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Tactile Systems Technology has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Tactile Systems Technology Stock Performance

NASDAQ TCMD opened at $12.17 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.79 and a quick ratio of 3.36. Tactile Systems Technology has a 1 year low of $8.61 and a 1 year high of $21.10. The company has a market capitalization of $271.27 million, a PE ratio of 19.63 and a beta of 0.96. The company has a fifty day moving average of $10.31 and a two-hundred day moving average of $12.45.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, August 4th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. The company had revenue of $78.91 million during the quarter, compared to the consensus estimate of $73.93 million. As a group, analysts expect that Tactile Systems Technology will post 0.7 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TCMD. American Century Companies Inc. raised its holdings in Tactile Systems Technology by 21.8% during the fourth quarter. American Century Companies Inc. now owns 39,161 shares of the company’s stock worth $671,000 after purchasing an additional 7,001 shares in the last quarter. LPL Financial LLC purchased a new position in Tactile Systems Technology in the fourth quarter valued at about $256,000. Vanguard Group Inc. increased its holdings in Tactile Systems Technology by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 1,483,692 shares of the company’s stock valued at $25,416,000 after buying an additional 4,509 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Tactile Systems Technology by 45.2% in the fourth quarter. JPMorgan Chase & Co. now owns 41,961 shares of the company’s stock valued at $719,000 after buying an additional 13,059 shares in the last quarter. Finally, Norges Bank purchased a new position in Tactile Systems Technology in the fourth quarter valued at about $2,534,000. 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.