Needham & Company LLC Cuts TransMedics Group (NASDAQ:TMDX) Price Target to $109.00

TransMedics Group (NASDAQ:TMDX) had its price target lowered by Needham & Company LLC from $208.00 to $109.00 in a research note released on Tuesday, Marketbeat.com reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of TransMedics Group from $117.00 to $169.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target on shares of TransMedics Group in a report on Monday, October 7th. Morgan Stanley raised their price objective on TransMedics Group from $104.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Oppenheimer upped their target price on TransMedics Group from $125.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Stephens increased their price target on TransMedics Group from $151.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TransMedics Group has a consensus rating of “Buy” and a consensus price target of $144.80.

TransMedics Group Stock Performance

TransMedics Group stock opened at $81.97 on Tuesday. TransMedics Group has a 1-year low of $36.42 and a 1-year high of $177.37. The company’s 50-day moving average is $142.38 and its 200 day moving average is $139.36. The firm has a market capitalization of $2.73 billion, a P/E ratio of 87.20 and a beta of 1.99. The company has a debt-to-equity ratio of 2.67, a current ratio of 9.37 and a quick ratio of 8.48.

TransMedics Group (NASDAQ:TMDX) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.17). TransMedics Group had a net margin of 0.84% and a return on equity of 15.98%. The business had revenue of $108.76 million during the quarter, compared to the consensus estimate of $115.00 million. During the same period last year, the company earned ($0.12) EPS. The business’s revenue was up 63.7% compared to the same quarter last year. Research analysts forecast that TransMedics Group will post 1.22 EPS for the current year.

Insider Buying and Selling

In other TransMedics Group news, insider Anil P. Ranganath sold 4,289 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $152.20, for a total value of $652,785.80. Following the completion of the sale, the insider now directly owns 8,893 shares in the company, valued at $1,353,514.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Edward M. Basile sold 6,750 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $149.96, for a total value of $1,012,230.00. Following the completion of the transaction, the director now directly owns 732 shares of the company’s stock, valued at $109,770.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anil P. Ranganath sold 4,289 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $152.20, for a total transaction of $652,785.80. Following the sale, the insider now directly owns 8,893 shares in the company, valued at approximately $1,353,514.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,247 shares of company stock worth $9,518,181 in the last 90 days. 7.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in shares of TransMedics Group in the 2nd quarter valued at $47,000. USA Financial Formulas acquired a new position in shares of TransMedics Group in the third quarter valued at about $55,000. J.Safra Asset Management Corp increased its holdings in shares of TransMedics Group by 649.2% in the second quarter. J.Safra Asset Management Corp now owns 442 shares of the company’s stock valued at $67,000 after purchasing an additional 383 shares during the period. Signaturefd LLC raised its stake in shares of TransMedics Group by 26.6% in the second quarter. Signaturefd LLC now owns 443 shares of the company’s stock worth $67,000 after purchasing an additional 93 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of TransMedics Group during the first quarter worth about $35,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

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.