Canaccord Genuity Group Issues Positive Forecast for TransMedics Group (NASDAQ:TMDX) Stock Price

TransMedics Group (NASDAQ:TMDX - Get Free Report) had its price target boosted by investment analysts at Canaccord Genuity Group from $129.00 to $142.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 29.23% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Piper Sandler reissued an "overweight" rating and set a $145.00 price objective (up previously from $125.00) on shares of TransMedics Group in a research note on Wednesday, June 4th. Oppenheimer upped their target price on shares of TransMedics Group from $130.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 17th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of TransMedics Group in a research note on Tuesday, June 17th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $129.88.

TransMedics Group Trading Down 2.3%

TransMedics Group stock traded down $2.64 during trading hours on Tuesday, reaching $109.88. The stock had a trading volume of 789,501 shares, compared to its average volume of 1,379,709. The stock has a market cap of $3.72 billion, a PE ratio of 80.79 and a beta of 2.06. TransMedics Group has a 52 week low of $55.00 and a 52 week high of $177.37. The company has a debt-to-equity ratio of 1.92, a current ratio of 9.10 and a quick ratio of 8.32. The company has a fifty day simple moving average of $127.16 and a 200-day simple moving average of $91.92.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.41. The business had revenue of $143.54 million for the quarter, compared to analyst estimates of $123.39 million. TransMedics Group had a net margin of 10.03% and a return on equity of 21.88%. The company's revenue was up 48.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. Analysts forecast that TransMedics Group will post 1 EPS for the current fiscal year.

Insiders Place Their Bets

In other TransMedics Group news, Director David Weill sold 732 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $123.88, for a total value of $90,680.16. Following the transaction, the director directly owned 12,134 shares in the company, valued at approximately $1,503,159.92. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward M. Basile sold 6,000 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $115.63, for a total transaction of $693,780.00. Following the completion of the transaction, the director owned 732 shares in the company, valued at $84,641.16. The trade was a 89.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,418 shares of company stock worth $1,512,613. Company insiders own 7.00% of the company's stock.

Institutional Trading of TransMedics Group

A number of hedge funds and other institutional investors have recently modified their holdings of TMDX. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of TransMedics Group by 244.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,113,082 shares of the company's stock worth $209,448,000 after purchasing an additional 2,209,996 shares in the last quarter. Braidwell LP purchased a new stake in shares of TransMedics Group in the fourth quarter worth $57,493,000. Norges Bank purchased a new stake in shares of TransMedics Group in the fourth quarter worth $22,861,000. Mackenzie Financial Corp grew its stake in TransMedics Group by 73.0% during the fourth quarter. Mackenzie Financial Corp now owns 828,147 shares of the company's stock valued at $51,635,000 after acquiring an additional 349,403 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in TransMedics Group by 1,565.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 269,825 shares of the company's stock valued at $16,820,000 after acquiring an additional 253,624 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

About TransMedics Group

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.