B. Riley downgraded Tactile Systems (TCMD) to Neutral from Buy with a price target of $18, down from $23, following the Q4 report. While the company’s sales guidance range bracketed the Street, its adjusted EBITDA guidance was significantly lower than expectations and implies negative 3% year-over-year growth, the analyst tells investors in a research note. The firm says that in addition to the slowdown in expected earnings, the qui tam lawsuits remain and the airway clearance guidance for 2025 implies slight share losses.
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Read More on TCMD:
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