Tactile Systems Technology (NASDAQ:TCMD) Downgraded by Piper Sandler to "Neutral"

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) was downgraded by equities research analysts at Piper Sandler from an "overweight" rating to a "neutral" rating in a research report issued on Tuesday, Marketbeat.com reports. They presently have a $14.00 target price on the stock, down from their prior target price of $25.00. Piper Sandler's price target indicates a potential upside of 47.06% from the stock's previous close.

Other research analysts also recently issued reports about the stock. B. Riley downgraded shares of Tactile Systems Technology from a "buy" rating to a "neutral" rating and decreased their target price for the company from $23.00 to $18.00 in a research note on Wednesday, February 19th. StockNews.com cut shares of Tactile Systems Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 29th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, Tactile Systems Technology has an average rating of "Hold" and a consensus price target of $16.00.

Tactile Systems Technology Stock Down 2.2 %

Shares of NASDAQ:TCMD traded down $0.21 during midday trading on Tuesday, hitting $9.52. 367,395 shares of the company's stock traded hands, compared to its average volume of 260,669. The firm's fifty day moving average price is $13.30 and its two-hundred day moving average price is $15.57. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.80 and a current ratio of 4.36. Tactile Systems Technology has a twelve month low of $8.61 and a twelve month high of $21.10. The company has a market cap of $225.30 million, a PE ratio of 13.60 and a beta of 1.05.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). The company had revenue of $61.27 million during the quarter, compared to analyst estimates of $63.48 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. During the same quarter last year, the business posted ($0.05) EPS. On average, equities research analysts anticipate that Tactile Systems Technology will post 0.7 EPS for the current fiscal year.

Insider Activity at Tactile Systems Technology

In other news, Director Daniel L. Reuvers sold 10,938 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $14.55, for a total transaction of $159,147.90. Following the sale, the director now directly owns 242,942 shares in the company, valued at approximately $3,534,806.10. This represents a 4.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William W. Burke sold 3,300 shares of Tactile Systems Technology stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $9.67, for a total transaction of $31,911.00. Following the completion of the sale, the director now owns 48,520 shares in the company, valued at approximately $469,188.40. This represents a 6.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,846 shares of company stock valued at $317,355 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Tactile Systems Technology

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in Tactile Systems Technology by 64,350.0% during the 1st quarter. GAMMA Investing LLC now owns 2,578 shares of the company's stock valued at $34,000 after purchasing an additional 2,574 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Tactile Systems Technology in the fourth quarter worth $39,000. Virtus Fund Advisers LLC boosted its position in Tactile Systems Technology by 142.0% during the 4th quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company's stock worth $72,000 after acquiring an additional 2,464 shares during the period. Quarry LP purchased a new position in Tactile Systems Technology during the fourth quarter valued at approximately $81,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Tactile Systems Technology during the fourth quarter valued at $97,000. 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.