TransMedics Group (NASDAQ:TMDX) Price Target Cut to $106.00 by Analysts at Needham & Company LLC

Key Points

• Needham cut TransMedics Group’s price target to $106 from $142 while maintaining a “buy” rating, implying 38.54% upside from the stock’s previous close.
• Analyst sentiment is mixed: MarketBeat reports a consensus “hold” rating and average price target of $126.27, based on six buys, six holds and one sell.
• TransMedics reported quarterly EPS of $0.30, below the $0.62 consensus estimate, while revenue rose 21.2% year over year to $173.93 million; institutional investors own 99.67% of the stock.

TransMedics Group (NASDAQ:TMDX - Get Free Report) had its price target cut by equities researchers at Needham & Company LLC from $142.00 to $106.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price indicates a potential upside of 38.54% from the stock's previous close.

A number of other equities analysts have also commented on the stock. Piper Sandler reissued an "overweight" rating on shares of TransMedics Group in a research report on Wednesday, July 22nd. Wall Street Zen cut TransMedics Group from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. UBS Group assumed coverage on TransMedics Group in a research report on Tuesday, July 28th. They issued a "neutral" rating and a $80.00 price target on the stock. Canaccord Genuity Group reiterated a "buy" rating and set a $124.00 target price on shares of TransMedics Group in a research note on Tuesday, June 30th. Finally, Weiss Ratings lowered shares of TransMedics Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, July 28th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, TransMedics Group has a consensus rating of "Hold" and an average price target of $126.27.

TransMedics Group Stock Performance

NASDAQ:TMDX opened at $76.51 on Monday. The company has a market capitalization of $2.64 billion, a P/E ratio of 17.39 and a beta of 1.89. The stock's 50 day moving average price is $72.55 and its 200 day moving average price is $100.58. The company has a debt-to-equity ratio of 1.70, a quick ratio of 6.19 and a current ratio of 6.74. 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 released its quarterly earnings data on Tuesday, May 5th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.32). TransMedics Group had a net margin of 27.04% and a return on equity of 22.38%. The business had revenue of $173.93 million during the quarter, compared to analyst estimates of $174.44 million. During the same period in the previous year, the firm posted $0.70 EPS. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. On average, research analysts forecast that TransMedics Group will post 1.88 EPS for the current fiscal year.

Insider Activity at TransMedics Group

In related news, Director Thomas J. Gunderson sold 9,624 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $75.06, for a total transaction of $722,377.44. Following the completion of the sale, the director directly owned 16,642 shares of the company's stock, valued at $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 is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.90% of the stock is owned by insiders.

Institutional Trading of TransMedics Group

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

TransMedics Group Company Profile

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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