TransMedics Group (NASDAQ:TMDX) Earns Buy Rating from Canaccord Genuity Group

Key Points

• Canaccord Genuity reiterated a buy rating on TransMedics Group and set a $124 price target, implying about 88% upside from the current share price.
• The stock was down 2.1% on Tuesday to $65.86, and it has traded well below its 52-week high of $156.
• Recent results showed mixed fundamentals: quarterly EPS came in below estimates, while revenue rose 21.2% year over year; analysts currently have a Hold consensus with an average target of $134.50.

TransMedics Group (NASDAQ:TMDX - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Canaccord Genuity Group in a report released on Tuesday,Benzinga reports. They currently have a $124.00 price target on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 88.28% from the company's current price.

Other research analysts have also issued reports about the company. Weiss Ratings reissued a "hold (c)" rating on shares of TransMedics Group in a research report on Tuesday, June 9th. Needham & Company LLC cut their target price on TransMedics Group from $174.00 to $142.00 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Piper Sandler decreased their target price on TransMedics Group from $160.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, May 6th. UBS Group reiterated a "hold" rating on shares of TransMedics Group in a report on Tuesday, May 26th. Finally, TD Cowen dropped their price target on TransMedics Group from $190.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $134.50.

TransMedics Group Trading Down 2.1%

Shares of NASDAQ:TMDX traded down $1.43 during trading on Tuesday, reaching $65.86. The stock had a trading volume of 461,279 shares, compared to its average volume of 1,106,508. TransMedics Group has a 52 week low of $60.10 and a 52 week high of $156.00. The company has a debt-to-equity ratio of 1.70, a quick ratio of 6.19 and a current ratio of 6.74. The firm's fifty day moving average is $78.65 and its 200 day moving average is $109.80. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 14.92 and a beta of 1.92.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.32). The firm had revenue of $173.93 million for the quarter, compared to the consensus estimate of $174.44 million. TransMedics Group had a return on equity of 22.38% and a net margin of 27.04%.TransMedics Group's quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 EPS. As a group, equities analysts forecast that TransMedics Group will post 1.98 EPS for the current fiscal year.

Insider Activity

In related news, Director Thomas J. Gunderson sold 9,624 shares of TransMedics Group stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.06, for a total value of $722,377.44. Following the completion of the sale, the director owned 16,642 shares of the company's stock, valued at approximately $1,249,148.52. This trade represents a 36.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TMDX. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of TransMedics Group by 11.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,069,492 shares of the company's stock worth $119,997,000 after acquiring an additional 113,817 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in TransMedics Group by 50.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 965,931 shares of the company's stock valued at $117,506,000 after acquiring an additional 322,353 shares in the last quarter. Geode Capital Management LLC boosted its stake in TransMedics Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 816,474 shares of the company's stock valued at $99,339,000 after purchasing an additional 2,903 shares during the last quarter. Two Sigma Investments LP boosted its stake in TransMedics Group by 54.2% during the 3rd quarter. Two Sigma Investments LP now owns 635,394 shares of the company's stock valued at $71,291,000 after purchasing an additional 223,409 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in TransMedics Group by 43.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 569,970 shares of the company's stock valued at $69,338,000 after purchasing an additional 171,810 shares during the last quarter. 99.67% of the stock is owned by institutional investors.

About TransMedics Group

TransMedics Group, Inc is a medical device company headquartered in Andover, Massachusetts, that specializes in advanced organ preservation and transport systems for transplantation. The company's flagship technology, the Organ Care System (OCS), maintains donor organs in a near-physiologic, warm, beating state during transportation, with the aim of extending preservation times and improving post‐transplant outcomes. TransMedics' solutions address a critical need in transplantation by reducing ischemic injury and expanding the donor organ pool.

TransMedics currently markets two commercially available OCS platforms.

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