Piper Sandler Issues Pessimistic Forecast for TransMedics Group (NASDAQ:TMDX) Stock Price

TransMedics Group (NASDAQ:TMDX) had its target price lowered by stock analysts at Piper Sandler from $110.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 36.97% from the stock’s current price.

TMDX has been the topic of several other reports. Baird R W raised shares of TransMedics Group to a “strong-buy” rating in a report on Tuesday, September 24th. Oppenheimer restated an “outperform” rating and set a $125.00 price objective on shares of TransMedics Group in a report on Tuesday, December 3rd. TD Cowen lowered their price objective on TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Canaccord Genuity Group decreased their price objective on TransMedics Group from $109.00 to $104.00 and set a “buy” rating for the company in a report on Wednesday, November 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of TransMedics Group in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.80.

TransMedics Group Stock Down 2.4 %

Shares of TransMedics Group stock opened at $65.71 on Wednesday. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 69.90 and a beta of 2.06. TransMedics Group has a 1 year low of $65.26 and a 1 year high of $177.37. The company has a debt-to-equity ratio of 2.42, a current ratio of 8.20 and a quick ratio of 7.33. The firm’s 50-day moving average is $98.83 and its two-hundred day moving average is $132.44.

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 company had revenue of $108.76 million during the quarter, compared to analyst estimates of $115.00 million. TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The firm’s revenue was up 63.7% compared to the same quarter last year. During the same period last year, the business earned ($0.12) earnings per share. As a group, research analysts expect that TransMedics Group will post 1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Edward M. Basile sold 6,750 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $83.55, for a total transaction of $563,962.50. Following the completion of the sale, the director now directly owns 732 shares in the company, valued at approximately $61,158.60. This trade represents a 90.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tamer I. Khayal sold 1,084 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $86.40, for a total value of $93,657.60. Following the transaction, the insider now owns 20,843 shares of the company’s stock, valued at approximately $1,800,835.20. This trade represents a 4.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,042 shares of company stock valued at $3,563,985. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On TransMedics Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Driehaus Capital Management LLC lifted its position in TransMedics Group by 15.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,486,073 shares of the company’s stock valued at $223,832,000 after acquiring an additional 202,867 shares in the last quarter. Geode Capital Management LLC boosted its position in TransMedics Group by 1.3% during the third quarter. Geode Capital Management LLC now owns 763,790 shares of the company’s stock worth $119,938,000 after purchasing an additional 10,106 shares during the period. Allspring Global Investments Holdings LLC grew its stake in TransMedics Group by 5.3% in 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 in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in TransMedics Group by 24.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 329,010 shares of the company’s stock worth $51,654,000 after purchasing an additional 64,360 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of TransMedics Group by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 271,694 shares of the company’s stock valued at $42,656,000 after acquiring an additional 6,634 shares during the period. 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.