TransMedics Group (NASDAQ:TMDX) Stock Gets Price Target Trim from Canaccord Genuity Group

Key Points

• Canaccord Genuity Group lowered its price target for TransMedics Group from $95 to $94 while maintaining a “buy” rating, implying 18.54% potential upside from the prior close.
• Analyst sentiment is mixed: the stock has an overall “hold” consensus rating and an average price target of $115.60, with targets ranging from $77 to $120.
• TransMedics reported quarterly revenue of $189.95 million, exceeding estimates and rising 20.7% year over year, but adjusted earnings of $0.44 per share fell short of the $0.50 consensus estimate.

TransMedics Group (NASDAQ:TMDX - Get Free Report) had its price objective cut by investment analysts at Canaccord Genuity Group from $95.00 to $94.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's target price indicates a potential upside of 18.54% from the company's previous close.

A number of other equities analysts have also recently issued reports on the company. UBS Group cut their price objective on TransMedics Group from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Wednesday, August 5th. Weiss Ratings upgraded TransMedics Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 31st. Barclays assumed coverage on TransMedics Group in a research note on Wednesday, October 7th. They issued an "overweight" rating and a $120.00 target price for the company. Zacks Research cut shares of TransMedics Group from a "hold" rating to a "strong sell" rating in a research report on Monday, July 6th. Finally, Piper Sandler reissued an "overweight" rating and set a $100.00 price target (down from $120.00) on shares of TransMedics Group in a research note on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $115.60.

TransMedics Group Price Performance

Shares of NASDAQ:TMDX traded up $1.13 during trading on Tuesday, reaching $79.30. The company had a trading volume of 634,830 shares, compared to its average volume of 1,002,020. The company has a fifty day moving average of $85.94 and a two-hundred day moving average of $83.52. The stock has a market capitalization of $2.74 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 1.07 and a beta of 1.94. TransMedics Group has a 12 month low of $60.10 and a 12 month high of $156.00. The company has a current ratio of 6.62, a quick ratio of 6.07 and a debt-to-equity ratio of 1.62.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). TransMedics Group had a net margin of 22.69% and a return on equity of 15.88%. The company had revenue of $189.95 million for the quarter, compared to analysts' expectations of $184.00 million. During the same quarter last year, the business posted $0.92 EPS. The business's quarterly revenue was up 20.7% compared to the same quarter last year. Equities research analysts forecast that TransMedics Group will post 1.46 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David Weill acquired 1,336 shares of the stock in a transaction on Friday, September 11th. The stock was purchased at an average price of $81.63 per share, for a total transaction of $109,057.68. Following the completion of the transaction, the director owned 16,392 shares of the company's stock, valued at $1,338,078.96. This trade represents a 8.87% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Candriam S.C.A. boosted its holdings in shares of TransMedics Group by 45.4% during the first quarter. Candriam S.C.A. now owns 158,766 shares of the company's stock worth $15,783,000 after purchasing an additional 49,580 shares during the period. Emerald Investment Advisers LLC bought a new stake in shares of TransMedics Group in the second quarter worth about $2,023,000. Headlands Technologies LLC purchased a new position in TransMedics Group during the 2nd quarter valued at about $1,634,000. Deutsche Bank AG purchased a new position in TransMedics Group during the 2nd quarter valued at about $14,415,000. Finally, The Manufacturers Life Insurance Company purchased a new position in TransMedics Group during the 2nd quarter valued at about $1,140,000. Institutional investors own 99.67% of the company's stock.

About TransMedics Group

TransMedics Group, Inc is a medical technology company that develops organ transplant systems designed to preserve and assess donated organs outside the body before transplantation. Its primary platform, the Organ Care System (OCS), uses warm perfusion technology to circulate oxygenated blood and nutrients through organs, helping maintain organ function during transport and potentially expanding the pool of organs available for transplant.

The company offers OCS solutions for heart, lung and liver transplantation.

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