Tactile Systems Technology, Inc. (NASDAQ: TCMD – Rated ) was the target of a sharp reduction in short interest in January. As of January 15, short interest totaled 351,700 shares, a decrease of 23.7% from 460,800 shares on December 31. On average volume of 201,100 shares, the short interest is currently at 1.7 days.
Institutional deals in haptic systems technology
Institutional investors and hedge funds recently adjusted their holdings in the company. Perkins Capital Management Inc. increased its position in Tactile Systems Technology by 3.5% in the fourth quarter. Perkins Capital Management Inc. now owns 32,234 shares of the company worth $370,000 after buying an additional 1,100 shares last quarter. Rhumbline Advisers increased its position in Tactile Systems Technology by 2.3% in the first quarter. Rhumbline Advisers now owns 54,756 shares of the company worth $1,104,000 after buying an additional 1,220 shares last quarter. UBS Group AG increased its stake in Tactile Systems Technology by 25.1 percent in the third quarter. UBS Group AG now owns 6,349 shares of the company worth $50,000 after buying an additional 1,274 shares last quarter. PNC Financial Services Group Inc. increased its stake in Tactile Systems Technology by 219.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,016 shares of the company worth $40,000 after buying an additional 1,385 shares last quarter. Finally, SG Americas Securities LLC increased its stake in Tactile Systems Technology by 10.4% during the third quarter. SG Americas Securities LLC now owns 17,668 shares of the company worth $138,000 after buying an additional 1,663 shares last quarter. 83.99% of the shares are held by hedge funds and other institutional investors.
Analyst Rating Changes
Separately, StockNews.com upgraded shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a report on Friday, November 18th. Four analysts have Buy ratings on the stock, with an average Buy rating and a consensus price target of $23.33, according to MarketBeat.
Haptic Systems Technology Stock Performance
TCMD stock opened Friday at $12.78. Tactile Systems Technology had a twelve-month low of $6.28 and a twelve-month high of $21.62. The company’s debt-to-equity ratio is 0.41, the quick ratio is 1.68, and the current ratio is 2.10. The stock has a 50-day moving average of $11.15 and a 200-day moving average of $9.15.
Tactile Systems Technology (NASDAQ: TCMD – Get Rating ) last reported quarterly earnings on Monday, November 7th. The company reported EPS of $0.10 for the quarter, beating analysts’ consensus estimate of $0.10 by $0.20. The company’s revenue for the quarter was $65.26 million, compared with the consensus estimate of $60.2 million. Tactile Systems Technology has a negative return on equity of 12.70% and a negative net profit margin of 12.78%. On average, research analysts predict Tactile Systems Technology to post earnings per share of -0.32 for the year.
Haptic Systems Technologies Company Profile
Tactile Systems Technology, Inc is a medical technology company engaged in the development and supply of chronic disease medical devices in the United States. The company offers the Flexitouch Plus System, a pneumatic compression device for the treatment of lymphedema; the Entre 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 and AffloVest, a portable high-frequency chest wall oscillation test for the treatment of retained secretions in the lungs, such as bronchiectasis, cystic fibrosis and various neuromuscular diseases.
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