TransMedics Group (NASDAQ:TMDX) Upgraded to Hold at Zacks Research

Key Points

• Zacks Research upgraded TransMedics Group from “strong sell” to “hold.” Overall, analysts’ consensus rating is “hold,” with a consensus price target of $115.60.
• The stock opened at $67.34, well below its 52-week high of $156.00; its 52-week low is $60.10.
• In its latest reported quarter, TransMedics posted revenue of $189.95 million, up 20.7% year over year and above estimates, but earnings per share of $0.44 fell short of the $0.50 consensus.

TransMedics Group (NASDAQ:TMDX - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

Other equities research analysts have also issued research reports about the stock. Barclays began coverage on shares of TransMedics Group in a report on Wednesday, October 7th. They set an "overweight" rating and a $120.00 price objective on the stock. Weiss Ratings upgraded shares of TransMedics Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 31st. Piper Sandler reiterated an "overweight" rating and set a $100.00 target price (down from $120.00) on shares of TransMedics Group in a research report on Wednesday, August 5th. Canaccord Genuity Group decreased their price target on shares of TransMedics Group from $95.00 to $94.00 and set a "buy" rating on the stock in a research note on Tuesday, October 13th. Finally, TD Cowen reissued a "buy" rating and issued a $120.00 price target on shares of TransMedics Group in a report on Tuesday, September 8th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $115.60.

TransMedics Group Price Performance

TransMedics Group stock opened at $67.34 on Monday. The business's fifty day moving average is $80.57 and its two-hundred day moving average is $94.17. The company has a debt-to-equity ratio of 1.62, a quick ratio of 6.07 and a current ratio of 6.62. The firm has a market cap of $2.33 billion, a P/E ratio of 33.84, a P/E/G ratio of 0.92 and a beta of 2.14. 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 announced its earnings results on Tuesday, August 4th. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.06). The business had revenue of $189.95 million during the quarter, compared to analyst estimates of $184.00 million. TransMedics Group had a net margin of 22.69% and a return on equity of 15.88%. The business's quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 earnings per share. Equities research analysts forecast that TransMedics Group will post 1.46 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On TransMedics Group

Institutional investors and hedge funds have recently modified their holdings of the business. Ascentis Independent Advisors bought a new position in TransMedics Group in the first quarter valued at approximately $30,000. Silvant Capital Management LLC bought a new stake in shares of TransMedics Group during the 2nd quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of TransMedics Group by 95.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 425 shares of the company's stock valued at $45,000 after buying an additional 207 shares during the last quarter. State of Wyoming acquired a new position in TransMedics Group during the second quarter worth $31,000. Finally, Ancora Advisors LLC acquired a new position in TransMedics Group during the second quarter worth $33,000. 99.67% of the stock is owned by institutional investors.

TransMedics Group Company Profile

TransMedics Group, Inc is a medical technology company focused on improving organ transplantation through systems that preserve and assess donor organs outside the body. The company's primary platform is the Organ Care System (OCS), a portable, technology-enabled perfusion system designed to maintain organs in a functioning, near-physiologic state during transport and evaluation.

TransMedics offers OCS products for heart, lung and liver transplantation. Its systems are intended to support the use of organs that may not otherwise be suitable for conventional cold-storage methods, potentially expanding the donor pool and providing transplant teams with additional information when evaluating organs for transplantation.

Founded in 1998 and headquartered in Andover, Massachusetts, TransMedics serves transplant centers in the United States and select international markets.

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