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

TransMedics Group (NASDAQ:TMDX) had its price objective dropped by research analysts at Canaccord Genuity Group from $109.00 to $104.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 31.08% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price on shares of TransMedics Group in a research report on Tuesday, October 29th. Needham & Company LLC lowered their target price on TransMedics Group from $208.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. TD Cowen reduced their target price on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. lowered their price target on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, Robert W. Baird reduced their price objective on TransMedics Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. One 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 data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $131.80.

TransMedics Group Stock Up 2.8 %

Shares of TMDX opened at $79.34 on Wednesday. The business’s 50 day moving average is $122.08 and its 200 day moving average is $138.50. The company has a current ratio of 8.20, a quick ratio of 7.33 and a debt-to-equity ratio of 2.42. TransMedics Group has a 12-month low of $67.77 and a 12-month high of $177.37. The company has a market capitalization of $2.66 billion, a PE ratio of 82.13 and a beta of 2.08.

TransMedics Group (NASDAQ:TMDX) last issued its earnings results 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 return on equity of 18.74% and a net margin of 8.14%. TransMedics Group’s revenue was up 63.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) EPS. Research analysts expect that TransMedics Group will post 1 earnings per share for the current fiscal year.

Insider Buying and Selling at TransMedics Group

In other TransMedics Group news, insider Nicholas Corcoran sold 10,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $176.02, for a total value of $1,760,200.00. Following the sale, the insider now owns 21,105 shares in the company, valued at $3,714,902.10. This trade represents a 32.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward M. Basile sold 6,750 shares of the business’s stock in a transaction 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 sale, the director now directly owns 732 shares of the company’s stock, valued at $61,158.60. This represents a 90.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,958 shares of company stock worth $5,230,528 over the last 90 days. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew 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 acquiring an additional 23,979 shares in the last quarter. Driehaus Capital Management LLC grew its stake in TransMedics Group by 15.8% in the second quarter. Driehaus Capital Management LLC now owns 1,486,073 shares of the company’s stock worth $223,832,000 after purchasing an additional 202,867 shares in the last quarter. Geode Capital Management LLC increased its holdings in TransMedics Group by 1.3% during the 3rd 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 raised its position in 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 purchasing an additional 30,092 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of 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 worth $51,654,000 after buying an additional 64,360 shares during the period. 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.