TransMedics Group (NASDAQ:TMDX) Receives Hold Rating from Needham & Company LLC

TransMedics Group (NASDAQ:TMDX)‘s stock had its “hold” rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They currently have a $109.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 37.38% from the company’s previous close.

TMDX has been the topic of several other reports. Robert W. Baird decreased their price target on TransMedics Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. TD Cowen reduced their price objective on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler lowered their target price on shares of TransMedics Group from $180.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday. Canaccord Genuity Group reduced their price target on shares of TransMedics Group from $109.00 to $104.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.80.

TransMedics Group Stock Performance

NASDAQ TMDX opened at $79.34 on Friday. The firm has a market cap of $2.66 billion, a P/E ratio of 84.41 and a beta of 2.08. The company has a quick ratio of 7.33, a current ratio of 8.20 and a debt-to-equity ratio of 2.42. The company’s 50 day moving average is $120.68 and its 200-day moving average is $138.09. TransMedics Group has a 12-month low of $67.77 and a 12-month high of $177.37.

TransMedics Group (NASDAQ:TMDX) last issued its earnings results on Monday, October 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.17). The business 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%. The company’s revenue was up 63.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.12) EPS. Sell-side analysts predict that TransMedics Group will post 1 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Edward M. Basile sold 6,750 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.55, for a total value of $563,962.50. Following the completion of the sale, the director now owns 732 shares in the company, valued at $61,158.60. The trade was a 90.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicholas Corcoran sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $176.02, for a total transaction of $1,760,200.00. Following the transaction, the insider now 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. Over the last ninety days, insiders sold 36,958 shares of company stock worth $5,230,528. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of TransMedics Group

Several hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its stake in shares of TransMedics Group by 337,462.5% during the first quarter. Russell Investments Group Ltd. now owns 27,005 shares of the company’s stock valued at $1,997,000 after buying an additional 26,997 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in TransMedics Group by 8.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 9,843 shares of the company’s stock worth $745,000 after acquiring an additional 780 shares during the last quarter. Vanguard Group Inc. increased its stake in TransMedics Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 1,889,094 shares of the company’s stock worth $139,680,000 after purchasing an additional 23,979 shares during the period. Price T Rowe Associates Inc. MD lifted its position in TransMedics Group by 8.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 297,324 shares of the company’s stock valued at $21,985,000 after purchasing an additional 22,223 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of TransMedics Group during the first quarter valued at approximately $1,588,000. 99.67% of the stock is owned by institutional investors.

About TransMedics Group

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.