Tactile Systems Technology (NASDAQ:TCMD) Downgraded to “Market Perform” Rating by Oppenheimer

Tactile Systems Technology (NASDAQ:TCMD) was downgraded by research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday, Briefing.com reports.

TCMD has been the subject of a number of other reports. B. Riley began coverage on Tactile Systems Technology in a research report on Thursday, September 26th. They issued a “buy” rating and a $23.00 price target for the company. BTIG Research lowered shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, StockNews.com upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, September 20th.

Tactile Systems Technology Trading Up 2.9 %

NASDAQ:TCMD opened at $15.11 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.44 and a quick ratio of 3.89. Tactile Systems Technology has a one year low of $9.69 and a one year high of $16.95. The company has a market cap of $359.01 million, a PE ratio of 10.95 and a beta of 1.17. The firm has a 50-day moving average of $14.03 and a 200-day moving average of $13.20.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. The firm had revenue of $73.22 million during the quarter, compared to the consensus estimate of $72.62 million. Tactile Systems Technology had a return on equity of 16.94% and a net margin of 11.57%. As a group, equities research analysts expect that Tactile Systems Technology will post 0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Tactile Systems Technology

Large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC boosted its stake in Tactile Systems Technology by 36.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 135,796 shares of the company’s stock worth $1,984,000 after purchasing an additional 36,409 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Tactile Systems Technology during the 3rd quarter worth $29,000. Creative Planning purchased a new position in shares of Tactile Systems Technology during the 3rd quarter valued at about $187,000. Essex Investment Management Co. LLC bought a new stake in shares of Tactile Systems Technology in the 3rd quarter worth approximately $1,803,000. Finally, Inspire Investing LLC bought a new stake in Tactile Systems Technology in the third quarter worth $897,000. Hedge funds and other institutional investors 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.