Tactile Systems Technology, Inc. (NASDAQ:TCMD – Get Rating) was the target of a sharp decline in short interest in January. As of Jan. 15, there were a total of 351,700 shares shorted, down 23.7% from the Dec. 31 total of 460,800 shares. Based on an average trading volume of 201,100 shares, the current short-term interest rate is 1.7 days.
Institutional trading of tactile system technology
Institutional investors and hedge funds have recently changed their stake in the business. Perkins Capital Management Inc. increased his position in Tactile Systems Technology by 3.5% in the fourth quarter. Perkins Capital Management Inc. now owns 32,234 shares worth $370,000 after he purchased 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 purchasing an additional 1,220 shares last quarter. UBS Group AG increased his Tactile Systems Technology stock position by 25.1% in the third quarter. UBS Group AG now owns 6,349 shares worth $50,000 after purchasing an additional 1,274 shares in the previous quarter. PNC Financial Services Group Inc. increased its position in Tactile Systems Technology stock by 219.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,016 shares worth $40,000 after purchasing an additional 1,385 shares last quarter. Finally, SG Americas Securities LLC increased its position in Tactile Systems Technology stock by 10.4% in the third quarter. SG Americas Securities LLC now owns 17,668 shares worth $138,000 after purchasing an additional 1,663 shares last quarter. 83.99% of the shares are owned by hedge funds and other institutional investors.
Analyst Rating Change
Separately, StockNews.com upgraded Tactile Systems Technology’s rating from “pending” to “buying” in a report on Friday, November 18th. According to MarketBeat, four analysts rate the stock with a Buy rating, with the company’s average rating of “Buy” and a consensus price target of $23.33.
Stock performance of haptic system technology
TCMD shares opened at $12.78 on Friday. Tactile Systems Technology has a 12-month low of $6.28 and a 12-month high of $21.62. The company has a debt to equity ratio of 0.41, a quick ratio of 1.68 and a current ratio of 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 results on Monday, November 7th. The company reported quarterly EPS of $0.10, $0.20 above analyst consensus expectations of $0.10. The company’s revenue for the quarter was $65.26 million, compared to consensus expectations of $60.2 million. Tactile Systems Technology’s return on equity was 12.70% and net profit margin was 12.78%. On average, research analysts forecast Tactile Systems Technology to record his EPS at -0.32 this year.
Tactile System Technology Company Profile
Tactile Systems Technology, Inc. is a medical technology company that develops and provides medical devices for chronic conditions in the United States. The company offers the Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema. The Entre system is a portable air compression device used for home treatment of venous diseases such as chronic venous insufficiency, including lymphedema and venous leg ulcers. AffloVest, a portable high-frequency chest wall vibration test for the treatment of pulmonary secretion retention such as bronchiectasis, cystic fibrosis, and various neuromuscular disorders.
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