Tactile Systems price target raised to $40 from $38 at BTIG

BTIG raised the firm’s price target on Tactile Systems (TCMD) to $40 from $38 and keeps a Buy rating on the shares. The firm is positive on the company’s earnings beat and guidance raise, stating that Tactile Systems growth is a reflection of the investments previously made to drive higher and durable productivity among its sales force, the analyst tells investors in a research note. Comps are becoming increasingly more challenging and the management called out changes to Medicare prior authorization requirements, but the firm believes the company has the tools in place to navigate through this, BTIG added.