Tactile Systems Technology (NASDAQ:TCMD) Cut to Neutral at Piper Sandler

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) was downgraded by Piper Sandler from an "overweight" rating to a "neutral" rating in a research note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $14.00 price target on the stock, down from their prior price target of $25.00. Piper Sandler's price target points to a potential upside of 47.06% from the company's current price.

TCMD has been the topic of a number of other research reports. B. Riley lowered Tactile Systems Technology from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $23.00 to $18.00 in a research note on Wednesday, February 19th. StockNews.com lowered shares of Tactile Systems Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 29th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Tactile Systems Technology has an average rating of "Hold" and a consensus price target of $16.00.

Tactile Systems Technology Stock Performance

Shares of Tactile Systems Technology stock traded down $0.21 on Tuesday, hitting $9.52. The stock had a trading volume of 367,395 shares, compared to its average volume of 260,417. The stock has a market cap of $225.30 million, a price-to-earnings ratio of 13.60 and a beta of 1.05. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11. Tactile Systems Technology has a twelve month low of $8.61 and a twelve month high of $21.10. The business's 50 day moving average is $13.30 and its two-hundred day moving average is $15.56.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. The firm had revenue of $61.27 million for the quarter, compared to the consensus estimate of $63.48 million. During the same quarter in the previous year, the business earned ($0.05) EPS. Analysts forecast that Tactile Systems Technology will post 0.7 EPS for the current year.

Insiders Place Their Bets

In other news, Director William W. Burke sold 3,300 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $9.67, for a total transaction of $31,911.00. Following the completion of the transaction, the director now owns 48,520 shares in the company, valued at approximately $469,188.40. This represents a 6.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kristie Burns sold 4,830 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $14.65, for a total value of $70,759.50. Following the completion of the sale, the vice president now owns 84,008 shares in the company, valued at $1,230,717.20. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,846 shares of company stock valued at $317,355 over the last ninety days. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tactile Systems Technology

A number of large investors have recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new position in shares of Tactile Systems Technology in the fourth quarter worth about $39,000. GAMMA Investing LLC boosted its stake in shares of Tactile Systems Technology by 64,350.0% during the first 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 during the period. Virtus Fund Advisers LLC boosted its stake in shares of Tactile Systems Technology by 142.0% during the fourth quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company's stock valued at $72,000 after purchasing an additional 2,464 shares during the period. Quarry LP bought a new position in shares of Tactile Systems Technology in the fourth quarter worth approximately $81,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Tactile Systems Technology in the fourth quarter worth $97,000. 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.