Tactile Systems Technology, Inc. (NASDAQ:TCMD) Short Interest Update

Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Rating) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 957,200 shares, a decrease of 24.0% from the September 15th total of 1,260,000 shares. Currently, 5.0% of the company's stock are sold short. Based on an average trading volume of 239,100 shares, the short-interest ratio is presently 4.0 days.

Analysts Set New Price Targets

Several research firms have recently commented on TCMD. Oppenheimer dropped their price objective on shares of Tactile Systems Technology from $35.00 to $18.00 and set an "outperform" rating on the stock in a report on Tuesday, August 2nd. StockNews.com assumed coverage on Tactile Systems Technology in a research note on Wednesday. They issued a "hold" rating on the stock. Piper Sandler decreased their price target on Tactile Systems Technology from $28.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, August 2nd. Finally, BTIG Research dropped their price objective on shares of Tactile Systems Technology from $29.00 to $27.00 and set a "buy" rating on the stock in a research note on Monday, July 18th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $23.33.

Insider Activity at Tactile Systems Technology

In other Tactile Systems Technology news, Director William W. Burke purchased 4,900 shares of the company's stock in a transaction dated Thursday, August 4th. The shares were acquired at an average price of $9.15 per share, for a total transaction of $44,835.00. Following the completion of the purchase, the director now owns 24,436 shares of the company's stock, valued at $223,589.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 3.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tactile Systems Technology

Large investors have recently bought and sold shares of the company. Millennium Management LLC boosted its stake in Tactile Systems Technology by 426.6% during the 2nd quarter. Millennium Management LLC now owns 973,542 shares of the company's stock worth $7,107,000 after purchasing an additional 788,667 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Tactile Systems Technology during the second quarter worth approximately $2,978,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Tactile Systems Technology during the first quarter worth $6,447,000. Jane Street Group LLC purchased a new stake in Tactile Systems Technology in the 2nd quarter valued at $1,221,000. Finally, ExodusPoint Capital Management LP raised its holdings in shares of Tactile Systems Technology by 619.8% during the 2nd quarter. ExodusPoint Capital Management LP now owns 174,850 shares of the company's stock worth $1,276,000 after acquiring an additional 150,560 shares during the period. 84.98% of the stock is currently owned by hedge funds and other institutional investors.

Tactile Systems Technology Stock Performance

Shares of Tactile Systems Technology stock traded down $0.56 on Friday, reaching $6.71. The company's stock had a trading volume of 103,209 shares, compared to its average volume of 288,216. Tactile Systems Technology has a 52-week low of $6.28 and a 52-week high of $38.80. The company has a quick ratio of 1.88, a current ratio of 2.30 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $8.50 and a 200-day moving average price of $10.45.

Tactile Systems Technology (NASDAQ:TCMD - Get Rating) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.02. The company had revenue of $59.65 million during the quarter, compared to analysts' expectations of $56.91 million. Tactile Systems Technology had a negative net margin of 14.00% and a negative return on equity of 15.08%. As a group, sell-side analysts predict that Tactile Systems Technology will post -0.57 EPS for the current year.

Tactile Systems Technology Company Profile

(Get Rating)

Tactile Systems Technology, Inc, a medical technology company, engages in the development and provision of medical devices for chronic diseases in the United States. The company offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema; Entre system, a portable pneumatic compression device that is used for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers; and AffloVest, a portable high frequency chest wall oscillation test for the treatment of retained pulmonary secretions such as bronchiectasis, cystic fibrosis, and various neuromuscular disorders.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Tactile Systems Technology, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tactile Systems Technology wasn't on the list.

While Tactile Systems Technology currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Comments are closed.