TransMedics Group (NASDAQ:TMDX) Price Target Lowered to $120.00 at TD Cowen

Key Points

• TD Cowen cut its price target on TransMedics from $190 to $120 while keeping a "buy" rating; analysts' consensus target is $137.40 and ratings are split (six Buy, six Hold).
• Q1 earnings missed — EPS was $0.30 versus $0.62 expected despite 21% revenue growth to $173.9M, and the stock plunged to $72.87 on heavy volume following the release.
• Guidance and analyst caution — FY26 revenue guidance of $727M–$757M was read as cautious, prompting downgrades and adding near-term selling pressure as focus shifts to margins and execution.

TransMedics Group (NASDAQ:TMDX - Get Free Report) had its price target cut by equities researchers at TD Cowen from $190.00 to $120.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. TD Cowen's price target would indicate a potential upside of 64.68% from the stock's current price.

A number of other analysts also recently issued reports on TMDX. Piper Sandler cut their price target on shares of TransMedics Group from $160.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday. Oppenheimer downgraded shares of TransMedics Group from an "outperform" rating to a "market perform" rating in a report on Wednesday. Needham & Company LLC cut their price target on shares of TransMedics Group from $174.00 to $142.00 and set a "buy" rating for the company in a report on Wednesday. Stifel Nicolaus cut their price target on shares of TransMedics Group from $130.00 to $85.00 and set a "hold" rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on shares of TransMedics Group from $114.00 to $149.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $137.40.

TransMedics Group Price Performance

TMDX traded down $22.06 during trading on Wednesday, reaching $72.87. The company's stock had a trading volume of 6,872,613 shares, compared to its average volume of 962,752. The company has a quick ratio of 6.59, a current ratio of 7.14 and a debt-to-equity ratio of 1.06. The firm has a fifty day simple moving average of $116.57 and a two-hundred day simple moving average of $125.96. TransMedics Group has a 1 year low of $70.00 and a 1 year high of $156.00. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 14.87 and a beta of 2.07.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.30 earnings per share (EPS) 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 analyst estimates of $174.48 million. TransMedics Group had a return on equity of 30.17% and a net margin of 31.43%.The firm's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 EPS. As a group, analysts anticipate that TransMedics Group will post 2.48 EPS for the current year.

Insider Transactions at TransMedics Group

In related news, insider Anil P. Ranganath sold 864 shares of TransMedics Group stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $139.12, for a total value of $120,199.68. Following the completion of the sale, the insider owned 13,091 shares in the company, valued at approximately $1,821,219.92. This trade represents a 6.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gerardo Hernandez sold 7,236 shares of TransMedics Group stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $147.21, for a total transaction of $1,065,211.56. Following the completion of the sale, the chief financial officer owned 14,689 shares of the company's stock, valued at $2,162,367.69. This trade represents a 33.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,205 shares of company stock worth $2,353,002 in the last three months. Company insiders own 6.90% of the company's stock.

Institutional Trading of TransMedics Group

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in shares of TransMedics Group by 47.9% in the first quarter. Royal Bank of Canada now owns 26,582 shares of the company's stock worth $1,788,000 after acquiring an additional 8,604 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of TransMedics Group by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,525 shares of the company's stock worth $1,314,000 after acquiring an additional 868 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of TransMedics Group by 20.6% in the first quarter. Goldman Sachs Group Inc. now owns 507,510 shares of the company's stock worth $34,145,000 after acquiring an additional 86,721 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of TransMedics Group by 13.5% in the second quarter. Russell Investments Group Ltd. now owns 7,901 shares of the company's stock worth $1,059,000 after acquiring an additional 938 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in shares of TransMedics Group in the second quarter worth $209,000. Institutional investors and hedge funds own 99.67% of the company's stock.

Key Headlines Impacting TransMedics Group

Here are the key news stories impacting TransMedics Group this week:

• Positive Sentiment: Needham cut its price target but remains constructive — Needham lowered its target from $174 to $142 and kept a "buy" rating, implying substantial upside if fundamentals re-accelerate. Needham PT cut
• Positive Sentiment: Piper Sandler also kept an overweight stance despite cutting its target to $120, signaling that some brokers still see medium-term upside. Piper Sandler PT change
• Neutral Sentiment: Top-line growth remains intact — Q1 revenue rose ~21% year-over-year to $173.93M driven by OCS demand and logistics growth, indicating continued commercial traction even as profitability slipped. Zacks revenue coverage
• Negative Sentiment: Material EPS and margin miss — TMDX reported $0.30 EPS vs. consensus ~$0.62 and noted margin pressure; markets penalize the earnings and the deterioration in profitability. Earnings release
• Negative Sentiment: Analyst tone turned more cautious — Oppenheimer downgraded TMDX from "outperform" to "market perform" and Stifel cut its PT from $130 to $85 and moved to "hold", increasing selling pressure. Oppenheimer downgrade Stifel PT cut
• Negative Sentiment: FY26 revenue guidance range ($727M–$757M) sits around Wall Street's view and may be read as cautious vs. expectations, leaving less near-term upside and amplifying focus on margins and execution. PR Newswire guidance

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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