Canaccord Genuity Group Cuts TransMedics Group (NASDAQ:TMDX) Price Target to $109.00

TransMedics Group (NASDAQ:TMDX) had its price objective reduced by Canaccord Genuity Group from $169.00 to $109.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

TMDX has been the subject of several other research reports. Baird R W upgraded shares of TransMedics Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Robert W. Baird initiated coverage on shares of TransMedics Group in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $200.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price objective on shares of TransMedics Group in a report on Monday, October 7th. Needham & Company LLC reduced their target price on TransMedics Group from $208.00 to $109.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Stephens raised their price target on TransMedics Group from $151.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $144.80.

TransMedics Group Stock Performance

NASDAQ:TMDX opened at $88.50 on Tuesday. TransMedics Group has a 12 month low of $36.42 and a 12 month high of $177.37. The company has a debt-to-equity ratio of 2.67, a current ratio of 9.37 and a quick ratio of 8.48. The firm has a market capitalization of $2.95 billion, a PE ratio of 94.15 and a beta of 1.99. The business’s fifty day moving average price is $146.02 and its 200 day moving average price is $140.16.

TransMedics Group (NASDAQ:TMDX) last released its quarterly earnings data on Monday, October 28th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). The business had revenue of $108.76 million during the quarter, compared to analysts’ expectations of $115.00 million. TransMedics Group had a net margin of 0.84% and a return on equity of 15.98%. The company’s revenue was up 63.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) EPS. On average, sell-side analysts anticipate that TransMedics Group will post 1.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James R. Tobin sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $159.33, for a total value of $3,186,600.00. Following the transaction, the director now owns 173,146 shares of the company’s stock, valued at approximately $27,587,352.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Tamer I. Khayal sold 2,958 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $156.77, for a total transaction of $463,725.66. Following the completion of the transaction, the insider now directly owns 20,843 shares of the company’s stock, valued at $3,267,557.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James R. Tobin sold 20,000 shares of TransMedics Group stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $159.33, for a total value of $3,186,600.00. Following the completion of the sale, the director now directly owns 173,146 shares in the company, valued at $27,587,352.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,205 shares of company stock valued at $9,981,907. 7.00% of the stock is owned by company insiders.

Institutional Trading of TransMedics Group

Hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. lifted its holdings in TransMedics Group by 48.2% in the third quarter. Harbor Capital Advisors Inc. now owns 8,964 shares of the company’s stock valued at $1,407,000 after acquiring an additional 2,916 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of TransMedics Group by 187.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 485 shares of the company’s stock valued at $76,000 after purchasing an additional 316 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of TransMedics Group in the third quarter valued at about $1,217,000. State of Alaska Department of Revenue acquired a new stake in shares of TransMedics Group in the third quarter valued at about $2,560,000. Finally, Louisiana State Employees Retirement System purchased a new stake in TransMedics Group during the third quarter worth about $2,528,000. 99.67% of the stock is owned by institutional investors and hedge funds.

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.