TransMedics Group (NASDAQ:TMDX) Stock Price Up 6.8% After Analyst Upgrade

Key Points

• TransMedics Group's stock (NASDAQ:TMDX) rose 6.8% after being upgraded from a hold to a buy rating by Wall Street Zen, with shares trading around $128.76.
• Several research firms have adjusted their price targets on TMDX, with Canaccord Genuity setting a new target at $142.00, while Oppenheimer increased theirs to $150.00.
• The company reported impressive quarterly earnings of $0.92 per share, significantly exceeding expectations and reflecting a 37.7% year-over-year revenue growth to $157.37 million.

Shares of TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report) were up 6.8% during trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $130.70 and last traded at $128.76. Approximately 501,417 shares changed hands during trading, a decline of 63% from the average daily volume of 1,355,177 shares. The stock had previously closed at $120.55.

TMDX has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of TransMedics Group in a report on Tuesday, June 17th. Oppenheimer raised their price target on shares of TransMedics Group from $130.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. Morgan Stanley raised their price target on shares of TransMedics Group from $115.00 to $123.00 and gave the company an "equal weight" rating in a report on Friday. Canaccord Genuity Group raised their price target on shares of TransMedics Group from $129.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, July 15th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $145.00 price target (up previously from $125.00) on shares of TransMedics Group in a report on Wednesday, June 4th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $123.00.

Insiders Place Their Bets

In other TransMedics Group news, Director David Weill sold 732 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $123.88, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anil P. Ranganath sold 686 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $139.80, for a total transaction of $95,902.80. Following the sale, the insider owned 13,955 shares in the company, valued at approximately $1,950,909. The trade was a 4.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 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 Investors Weigh In On TransMedics Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Opal Wealth Advisors LLC bought a new stake in shares of TransMedics Group during the second quarter valued at approximately $26,000. Sound Income Strategies LLC bought a new stake in shares of TransMedics Group during the second quarter valued at approximately $48,000. NBC Securities Inc. bought a new stake in shares of TransMedics Group during the first quarter valued at approximately $25,000. Smartleaf Asset Management LLC raised its position in shares of TransMedics Group by 44.3% during the first quarter. Smartleaf Asset Management LLC now owns 440 shares of the company's stock valued at $30,000 after buying an additional 135 shares during the last quarter. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of TransMedics Group during the fourth quarter valued at approximately $31,000. Institutional investors own 99.67% of the company's stock.

TransMedics Group Stock Performance

The stock has a market cap of $4.44 billion, a P/E ratio of 67.48 and a beta of 2.09. The company has a debt-to-equity ratio of 1.61, a current ratio of 9.86 and a quick ratio of 9.17. The firm's 50-day moving average price is $124.51 and its 200-day moving average price is $95.50.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last announced its quarterly earnings results 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. TransMedics Group had a net margin of 13.49% and a return on equity of 28.02%. The company had revenue of $157.37 million for the quarter, compared to analysts' expectations of $146.64 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. TransMedics Group's quarterly revenue was up 37.7% on a year-over-year basis. Sell-side analysts expect that TransMedics Group, Inc. will post 1 earnings per share for the current fiscal year.

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.

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