Piper Sandler Cuts TransMedics Group (NASDAQ:TMDX) Price Target to $110.00

TransMedics Group (NASDAQ:TMDX) had its target price reduced by Piper Sandler from $180.00 to $110.00 in a report released on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. Robert W. Baird decreased their price objective on TransMedics Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Stephens upped their price target on TransMedics Group from $151.00 to $178.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Canaccord Genuity Group cut their price objective on TransMedics Group from $109.00 to $104.00 and set a “buy” rating for the company in a research report on Wednesday. TD Cowen decreased their target price on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Finally, Needham & Company LLC dropped their price target on shares of TransMedics Group from $208.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Two equities 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 stock has a consensus rating of “Moderate Buy” and an average target price of $131.80.

TransMedics Group Stock Down 4.2 %

Shares of TMDX opened at $76.04 on Wednesday. TransMedics Group has a 52-week low of $67.77 and a 52-week high of $177.37. 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 stock has a fifty day simple moving average of $119.18 and a two-hundred day simple moving average of $137.70. The company has a market capitalization of $2.55 billion, a PE ratio of 80.89 and a beta of 2.08.

TransMedics Group (NASDAQ:TMDX) last released its quarterly earnings data on Monday, October 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.17). The firm had revenue of $108.76 million for 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%. TransMedics Group’s revenue for the quarter was up 63.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.12) earnings per share. As a group, equities analysts forecast that TransMedics Group will post 1 EPS for the current year.

Insider Buying and Selling

In other TransMedics Group news, insider Nicholas Corcoran sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $176.02, for a total value of $1,760,200.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Waleed H. Hassanein sold 8,625 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $153.42, for a total value of $1,323,247.50. Following the sale, the chief executive officer now directly owns 61,643 shares in the company, valued at $9,457,269.06. This represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,958 shares of company stock valued at $5,230,528 in the last ninety days. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On TransMedics Group

Several hedge funds and other institutional investors have recently made changes to their positions in TMDX. International Assets Investment Management LLC purchased a new stake in shares of TransMedics Group during the second quarter worth approximately $47,000. USA Financial Formulas acquired a new position in TransMedics Group during the 3rd quarter worth approximately $55,000. Quarry LP increased its position in shares of TransMedics Group by 557.1% in the 3rd quarter. Quarry LP now owns 368 shares of the company’s stock valued at $58,000 after purchasing an additional 312 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of TransMedics Group by 174.7% in the 3rd quarter. National Bank of Canada FI now owns 412 shares of the company’s stock valued at $65,000 after purchasing an additional 262 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its position in shares of TransMedics Group by 649.2% during the 2nd quarter. J.Safra Asset Management Corp now owns 442 shares of the company’s stock worth $67,000 after purchasing an additional 383 shares during the last quarter. 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.