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

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 524,500 shares, an increase of 35.1% from the August 15th total of 388,200 shares. Based on an average daily volume of 327,300 shares, the short-interest ratio is presently 1.6 days.

Tactile Systems Technology Trading Down 6.3 %

Tactile Systems Technology stock traded down $1.11 during trading hours on Friday, hitting $16.42. The company had a trading volume of 831,314 shares, compared to its average volume of 242,064. The firm has a market cap of $385.21 million, a P/E ratio of 547.33 and a beta of 1.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.08. Tactile Systems Technology has a 1 year low of $6.52 and a 1 year high of $26.11. The company has a 50-day moving average price of $20.41 and a two-hundred day moving average price of $19.87.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, August 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. Tactile Systems Technology had a net margin of 0.13% and a return on equity of 5.89%. The firm had revenue of $68.34 million during the quarter, compared to analysts’ expectations of $65.48 million. On average, sell-side analysts anticipate that Tactile Systems Technology will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Tactile Systems Technology

Hedge funds have recently modified their holdings of the business. Covestor Ltd purchased a new stake in shares of Tactile Systems Technology in the 2nd quarter worth approximately $42,000. Altshuler Shaham Ltd purchased a new stake in shares of Tactile Systems Technology in the 1st quarter worth approximately $32,000. PNC Financial Services Group Inc. lifted its position in shares of Tactile Systems Technology by 219.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,016 shares of the company’s stock worth $40,000 after purchasing an additional 1,385 shares during the period. National Bank of Canada FI bought a new position in shares of Tactile Systems Technology during the 2nd quarter worth approximately $67,000. Finally, Lazard Asset Management LLC bought a new position in shares of Tactile Systems Technology during the 2nd quarter worth approximately $86,000. Hedge funds and other institutional investors own 85.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on TCMD. StockNews.com cut shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 8th. Oppenheimer boosted their price objective on shares of Tactile Systems Technology from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. Finally, TheStreet raised shares of Tactile Systems Technology from a “d+” rating to a “c-” rating in a research report on Tuesday, May 23rd.

About Tactile Systems Technology

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema; 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; Kylee, a mobile application to help patients learn about lymphedema, track their symptoms, treatment, and share their progress with their doctor; and AffloVest, a portable high frequency chest wall oscillation vest for the treatment of retained pulmonary secretions, such as bronchiectasis, cystic fibrosis, and various neuromuscular disorders.