Piper Jaffray Starts Tactile Systems Technology (TCMD) at Overweight

August 22, 2016 6:35 AM EDT
Get Alerts TCMD Hot Sheet
Price: $15.17 --0%

Rating Summary:
    3 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Piper Jaffray initiates coverage on Tactile Systems Technology (NASDAQ: TCMD) with a Overweight rating and a price target of $17.00.

Analyst Matt O'Brien commented, "We are initiating coverage of Tactile with an OW rating and $17 PT. The company’s PCD products, in our view, are best-in-class and we anticipate they will generate strong revenue growth (+20%) in this lightly penetrated category (below 5%). With its unique business model (bypassing the DMEs) and going directly to the physicians and patients, we believe TCMD is able to capture more of the economics on its products, which results in a strong profitability profile for the business. Although there are risks to the story to monitor, we believe they are manageable and with a modest valuation, we recommend purchase at these levels."

For an analyst ratings summary and ratings history on Tactile Systems Technology click here. For more ratings news on Tactile Systems Technology click here.

Shares of Tactile Systems Technology closed at $13.23 yesterday.

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