TransMedics Group (NASDAQ:TMDX) Price Target Lowered to $104.00 at Canaccord Genuity Group

TransMedics Group (NASDAQ:TMDX) had its price target decreased by stock analysts at Canaccord Genuity Group from $109.00 to $104.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 26.06% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Stephens boosted their target price on TransMedics Group from $151.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Oppenheimer dropped their price objective on TransMedics Group from $200.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. decreased their target price on TransMedics Group from $173.00 to $116.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target on shares of TransMedics Group in a research report on Tuesday, October 29th. Finally, Needham & Company LLC reduced their price objective on shares of TransMedics Group from $208.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $138.80.

TransMedics Group Trading Down 0.5 %

Shares of TMDX stock opened at $82.50 on Wednesday. TransMedics Group has a 1 year low of $66.76 and a 1 year high of $177.37. The firm has a market capitalization of $2.77 billion, a PE ratio of 87.77 and a beta of 2.08. The stock has a fifty day moving average of $123.41 and a two-hundred day moving average of $138.93. The company has a debt-to-equity ratio of 2.42, a quick ratio of 7.33 and a current ratio of 8.20.

TransMedics Group (NASDAQ:TMDX) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.17). The company had revenue of $108.76 million for the quarter, compared to the consensus estimate of $115.00 million. TransMedics Group had a net margin of 8.14% and a return on equity of 18.74%. TransMedics Group’s revenue for the quarter was up 63.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. As a group, research analysts expect that TransMedics Group will post 1.07 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Waleed H. Hassanein sold 8,625 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $153.42, for a total value of $1,323,247.50. Following the completion of the sale, the chief executive officer now owns 61,643 shares of the company’s stock, valued at $9,457,269.06. This trade represents a 12.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nicholas Corcoran sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $176.02, for a total value of $1,760,200.00. Following the transaction, the insider now directly owns 21,105 shares in the company, valued at $3,714,902.10. The trade was a 32.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,958 shares of company stock worth $5,230,528. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On TransMedics Group

Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue purchased a new stake in shares of TransMedics Group in the third quarter worth approximately $2,560,000. Vaughan Nelson Investment Management L.P. increased its stake in TransMedics Group by 24.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 329,010 shares of the company’s stock valued at $51,654,000 after buying an additional 64,360 shares during the period. WCM Investment Management LLC purchased a new stake in TransMedics Group in the 3rd quarter worth approximately $8,720,000. Allspring Global Investments Holdings LLC boosted its stake in shares of TransMedics Group by 5.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 599,116 shares of the company’s stock valued at $94,061,000 after buying an additional 30,092 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of TransMedics Group during the 2nd quarter valued at $1,400,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

TransMedics Group Company Profile

TransMedics Group, Inc, a commercial-stage medical technology company, engages in transforming organ transplant therapy for end-stage organ failure patients in the United States and internationally. The company offers Organ Care System (OCS), a portable organ perfusion, optimization, and monitoring system that utilizes its proprietary and customized technology to replicate near-physiologic conditions for donor organs outside of the human body.