Tactile Systems Technology, Inc. (NASDAQ:TCMD) Sees Large Growth in Short Interest

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,400,000 shares, an increase of 32.1% from the December 15th total of 1,060,000 shares. Based on an average daily volume of 265,100 shares, the days-to-cover ratio is presently 5.3 days.

Tactile Systems Technology Trading Down 0.2 %

Tactile Systems Technology stock traded down $0.03 during trading hours on Friday, reaching $17.40. The company had a trading volume of 141,005 shares, compared to its average volume of 203,246. The firm has a market cap of $417.60 million, a price-to-earnings ratio of 26.77 and a beta of 1.21. Tactile Systems Technology has a 12-month low of $11.12 and a 12-month high of $21.10. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.37 and a quick ratio of 3.80. The company has a 50-day moving average price of $17.47 and a 200 day moving average price of $14.81.

Institutional Investors Weigh In On Tactile Systems Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in shares of Tactile Systems Technology in the fourth quarter valued at about $1,328,000. SG Americas Securities LLC increased its holdings in Tactile Systems Technology by 12.7% during the 4th quarter. SG Americas Securities LLC now owns 12,032 shares of the company’s stock valued at $206,000 after purchasing an additional 1,354 shares during the period. Retireful LLC bought a new position in Tactile Systems Technology during the 4th quarter valued at approximately $173,000. Tidal Investments LLC lifted its holdings in Tactile Systems Technology by 20.9% in the 3rd quarter. Tidal Investments LLC now owns 25,957 shares of the company’s stock worth $379,000 after buying an additional 4,483 shares during the period. Finally, Barclays PLC grew its position in shares of Tactile Systems Technology by 56.7% in the 3rd quarter. Barclays PLC now owns 66,885 shares of the company’s stock worth $977,000 after buying an additional 24,188 shares during the last quarter. 83.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TCMD shares. Oppenheimer lowered shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday, November 5th. B. Riley assumed coverage on Tactile Systems Technology in a research note on Thursday, September 26th. They set a “buy” rating and a $23.00 price objective for the company. Finally, StockNews.com lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

About Tactile Systems Technology

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus 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.