Tactile Systems Technology (NASDAQ:TCMD) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Tactile Systems Technology, Inc. (NASDAQ:TCMD)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $28.91 and traded as low as $27.00. Tactile Systems Technology shares last traded at $27.21, with a volume of 264,357 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Raymond James Financial set a $35.00 price objective on shares of Tactile Systems Technology in a report on Monday, January 5th. Zacks Research downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Piper Sandler set a $35.00 price objective on Tactile Systems Technology in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tactile Systems Technology in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.75.

Tactile Systems Technology Price Performance

The company has a 50-day moving average price of $28.95 and a two-hundred day moving average price of $20.31. The company has a market cap of $623.51 million, a PE ratio of 36.25 and a beta of 0.96.

Insider Buying and Selling

In other Tactile Systems Technology news, VP Kristie Burns sold 5,139 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $28.85, for a total value of $148,260.15. Following the completion of the transaction, the vice president directly owned 72,401 shares of the company’s stock, valued at $2,088,768.85. This represents a 6.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tactile Systems Technology

A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its holdings in shares of Tactile Systems Technology by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after purchasing an additional 1,993 shares during the period. Quarry LP boosted its position in shares of Tactile Systems Technology by 302.6% during the third quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after buying an additional 1,743 shares during the period. Global Retirement Partners LLC acquired a new position in Tactile Systems Technology during the 4th quarter worth $37,000. Aquatic Capital Management LLC bought a new position in Tactile Systems Technology in the 3rd quarter valued at about $47,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Tactile Systems Technology by 95.8% in the third quarter. BNP Paribas Financial Markets now owns 4,526 shares of the company’s stock valued at $63,000 after acquiring an additional 2,214 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

About Tactile Systems Technology

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company’s platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems’ product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.