TransMedics Group (NASDAQ:TMDX) Given New $123.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley raised its price target for TransMedics Group from $115.00 to $123.00, indicating a potential upside of 3.10% based on the stock's previous close.
• Several analysts have provided positive ratings for the company, with Canaccord Genuity raising its target to $142.00 and Oppenheimer to $150.00, while the consensus target price now sits at $129.11.
• TransMedics Group recently reported strong earnings, with $0.92 earnings per share, significantly beating expectations and reflecting a 37.7% year-over-year revenue increase.

TransMedics Group (NASDAQ:TMDX - Free Report) had its target price boosted by Morgan Stanley from $115.00 to $123.00 in a research report released on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research analysts have also weighed in on TMDX. Needham & Company LLC reaffirmed a "hold" rating on shares of TransMedics Group in a research note on Tuesday, June 17th. Oppenheimer upped their price objective on shares of TransMedics Group from $130.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday, June 17th. Piper Sandler reiterated an "overweight" rating and issued a $145.00 target price (up previously from $125.00) on shares of TransMedics Group in a report on Wednesday, June 4th. Finally, Canaccord Genuity Group boosted their target price on TransMedics Group from $129.00 to $142.00 and gave the company a "buy" rating in a research report on Tuesday, July 15th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.

TransMedics Group Trading Down 2.1%

Shares of TransMedics Group stock traded down $2.76 during mid-day trading on Friday, hitting $125.74. The stock had a trading volume of 1,109,944 shares, compared to its average volume of 1,363,685. The firm has a 50-day moving average of $124.60 and a two-hundred day moving average of $96.00. The firm has a market cap of $4.29 billion, a P/E ratio of 65.15 and a beta of 2.09. The company has a quick ratio of 9.17, a current ratio of 9.86 and a debt-to-equity ratio of 1.61. TransMedics Group has a 12-month low of $55.00 and a 12-month high of $177.37.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.44. The company had revenue of $157.37 million during the quarter, compared to analyst estimates of $146.64 million. TransMedics Group had a return on equity of 28.02% and a net margin of 13.49%. The firm's revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 earnings per share. Sell-side analysts forecast that TransMedics Group will post 1 earnings per share for the current year.

Insider Transactions at TransMedics Group

In related news, insider Anil P. Ranganath sold 686 shares of TransMedics Group stock in a transaction on Monday, June 9th. The stock was sold at an average price of $139.80, for a total value of $95,902.80. Following the completion of the transaction, the insider directly owned 13,955 shares in the company, valued at approximately $1,950,909. This trade represents a 4.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Weill sold 732 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $123.88, for a total value of $90,680.16. Following the sale, the director owned 12,134 shares in the company, valued at approximately $1,503,159.92. This trade represents a 5.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,418 shares of company stock valued at $1,512,613. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of TransMedics Group

Several hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of TransMedics Group by 0.8% during the 2nd quarter. Amalgamated Bank now owns 9,586 shares of the company's stock worth $1,285,000 after acquiring an additional 80 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in TransMedics Group by 44.3% in the first quarter. Smartleaf Asset Management LLC now owns 440 shares of the company's stock valued at $30,000 after purchasing an additional 135 shares during the last quarter. CWM LLC raised its holdings in TransMedics Group by 20.1% during the first quarter. CWM LLC now owns 925 shares of the company's stock worth $62,000 after purchasing an additional 155 shares in the last quarter. Campbell Newman Asset Management Inc. raised its holdings in TransMedics Group by 1.4% during the first quarter. Campbell Newman Asset Management Inc. now owns 11,619 shares of the company's stock worth $782,000 after purchasing an additional 166 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its position in shares of TransMedics Group by 1.9% during the 2nd quarter. Maryland State Retirement & Pension System now owns 9,943 shares of the company's stock worth $1,332,000 after buying an additional 185 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

TransMedics Group Company Profile

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.