Oppenheimer downgraded Tactile Systems (TCMD) to Perform from Outperform without a price target following the Q3 report. The firm says two qui tams filed in 2021 alleging violations of Federal False Claims Act and Anti-Kickback Statute were unsealed. Although Oppenheimer doesn’t know their impact, the firm says the last qui tam had a material impact on growth across the board. The uncertainty does not inspire confidence in Tactile Systems’ growth acceleration, says the analyst, who is adopting a wait and see stance.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TCMD:
- Tactile Systems downgraded to Perform from Outperform at Oppenheimer
- Tactile Systems downgraded to Neutral from Buy at BTIG
- Tactile Systems Technology Reports Q3 2024 Results, Launches Share Buyback
- Tactile Systems reports Q3 EPS 21c, consensus 18c
- Tactile Systems lowers FY24 revenue view to $292M-$295M from $293M-$298M
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue