Piper Sandler lowered the firm’s price target on Tactile Systems to $23 from $30 and keeps an Overweight rating on the shares. The firm notes Tactile reported Q3 results that beat expectations on the top and bottom lines. Lymphedema drove the upside in the quarter and helped to offset a softer Afflovest result. The company lowered its FY guidance by $1M to $273M-$277M as management anticipates weaker-than-expected Afflovest revenues in 2023. Moreover, the company expects the headwinds in Afflovest to persist into the first half of 2024, Piper adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TCMD:
- Tactile Systems Technology, Inc. Reports Third Quarter 2023 Financial Results; Updates Full Year 2023 Outlook
- Is TCMD a Buy, Before Earnings?
- Tactile Medical to Release Third Quarter of Fiscal Year 2023 Financial Results on November 6, 2023
- Tactile Medical Appoints Vindell Washington, M.D. to Board of Directors
