TransMedics Group (NASDAQ:TMDX) Stock Gets Price Target Boost from JPMorgan Chase & Co.

Key Points

• JPMorgan raised its price target on TransMedics from $73 to $85 but kept a neutral rating; the new target implies 3.67% downside from the prior close.
• Analyst sentiment is mixed: five analysts rate the stock Buy and seven Hold, with a consensus Hold rating and an average price target of $112.20.
• TransMedics beat quarterly expectations, reporting EPS of $0.51 versus $0.30 expected and revenue of $203.01 million versus $178.06 million; revenue increased 41.1% year over year.

TransMedics Group (NASDAQ:TMDX - Get Free Report) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $73.00 to $85.00 in a research report issued on Friday, Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential downside of 3.67% from the company's previous close.

A number of other analysts also recently issued reports on the stock. UBS Group lowered their price target on shares of TransMedics Group from $80.00 to $77.00 and set a "neutral" rating on the stock in a report on Wednesday, August 5th. Weiss Ratings raised shares of TransMedics Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 31st. Piper Sandler reiterated an "overweight" rating and issued a $100.00 price objective (down from $120.00) on shares of TransMedics Group in a research report on Wednesday, August 5th. Wall Street Zen raised shares of TransMedics Group from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Barclays began coverage on TransMedics Group in a research report on Wednesday, October 7th. They set an "overweight" rating and a $120.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $112.20.

TransMedics Group Stock Performance

NASDAQ TMDX opened at $88.24 on Friday. The company has a quick ratio of 4.15, a current ratio of 4.53 and a debt-to-equity ratio of 1.46. The firm has a market cap of $3.05 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.18 and a beta of 2.14. The company has a 50 day moving average price of $79.61 and a 200 day moving average price of $93.17. TransMedics Group has a 52 week low of $60.10 and a 52 week high of $156.00.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.30 by $0.21. The business had revenue of $203.01 million during the quarter, compared to the consensus estimate of $178.06 million. TransMedics Group had a net margin of 19.85% and a return on equity of 13.30%. The business's revenue for the quarter was up 41.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. As a group, sell-side analysts forecast that TransMedics Group will post 1.50 EPS for the current fiscal year.

Insider Activity at TransMedics Group

In related news, Director David Weill bought 1,336 shares of the business's stock in a transaction on Friday, September 11th. The stock was acquired at an average cost of $81.63 per share, with a total value of $109,057.68. Following the purchase, the director directly owned 16,392 shares of the company's stock, valued at $1,338,078.96. The trade was a 8.87% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 6.90% of the company's stock.

Hedge Funds Weigh In On TransMedics Group

A number of hedge funds have recently modified their holdings of TMDX. Pinnacle Wealth Planning Services Inc. raised its position in TransMedics Group by 24.9% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 874 shares of the company's stock valued at $73,000 after purchasing an additional 174 shares in the last quarter. Plan A Wealth LLC boosted its stake in shares of TransMedics Group by 3.9% in the 3rd quarter. Plan A Wealth LLC now owns 5,370 shares of the company's stock valued at $448,000 after buying an additional 203 shares during the period. IFP Advisors Inc boosted its stake in shares of TransMedics Group by 4.8% in the 2nd quarter. IFP Advisors Inc now owns 4,652 shares of the company's stock valued at $309,000 after buying an additional 213 shares during the period. HB Wealth Management LLC grew its position in shares of TransMedics Group by 1.5% during the second quarter. HB Wealth Management LLC now owns 15,062 shares of the company's stock worth $1,000,000 after buying an additional 219 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of TransMedics Group by 1.4% during the third quarter. D.A. Davidson & CO. now owns 16,060 shares of the company's stock worth $1,340,000 after buying an additional 228 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

About TransMedics Group

TransMedics Group, Inc is a medical technology company focused on improving organ transplantation. Its Organ Care System (OCS) is a portable platform that perfuses donor organs with warm, oxygenated blood and nutrients while they are outside the body. The company offers OCS systems for donor hearts, lungs and livers, along with related consumables and services.

The company also operates the National OCS Program in the United States, an integrated offering that combines its technology with organ procurement and transportation services.

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