TransMedics Group (NASDAQ:TMDX) Upgraded by Wall Street Zen to Buy Rating

Key Points

• TransMedics Group has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increasing confidence among analysts regarding the company's stock.
• The stock's price target has been raised by multiple firms, with Morgan Stanley increasing it from $115 to $123 and Oppenheimer from $130 to $150, reflecting a favorable market outlook.
• TransMedics reported a 37.7% increase in revenue year-over-year, with earnings of $0.92 per share beating estimates significantly, demonstrating strong financial performance.

TransMedics Group (NASDAQ:TMDX - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

TMDX has been the subject of a number of other research reports. Canaccord Genuity Group increased their target price on TransMedics Group from $129.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, July 15th. Oppenheimer increased their price target on TransMedics Group from $130.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. Morgan Stanley increased their price target on TransMedics Group from $115.00 to $123.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Piper Sandler reissued an "overweight" rating and issued a $145.00 price target (up previously from $125.00) on shares of TransMedics Group in a report on Wednesday, June 4th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of TransMedics Group in a report on Tuesday, June 17th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, TransMedics Group has an average rating of "Moderate Buy" and an average price target of $123.00.

TransMedics Group Trading Down 5.2%

NASDAQ:TMDX traded down $6.60 on Friday, hitting $119.14. 811,219 shares of the stock were exchanged, compared to its average volume of 1,359,744. The stock has a market cap of $4.06 billion, a PE ratio of 61.81 and a beta of 2.09. The company has a current ratio of 9.86, a quick ratio of 9.17 and a debt-to-equity ratio of 1.61. The stock has a fifty day moving average of $124.54 and a 200-day moving average of $96.21. TransMedics Group has a fifty-two week low of $55.00 and a fifty-two week high of $177.37.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.92 EPS 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 was up 37.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. As a group, equities analysts expect that TransMedics Group will post 1 earnings per share for the current fiscal year.

Insider Transactions at TransMedics Group

In related news, Director David Weill sold 732 shares of the firm's stock in a transaction that occurred on 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 directly owned 12,134 shares in the company, valued at $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 available through this hyperlink. Also, Director Edward M. Basile sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $126.45, for a total value of $632,250.00. Following the completion of the sale, the director owned 2,866 shares in the company, valued at approximately $362,405.70. This represents a 63.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,418 shares of company stock worth $1,512,613. 7.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TransMedics Group

Hedge funds have recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of TransMedics Group during the 2nd quarter valued at $26,000. Sound Income Strategies LLC acquired a new position in shares of TransMedics Group during the 2nd quarter valued at $48,000. NBC Securities Inc. acquired a new position in shares of TransMedics Group during the 1st quarter valued at $25,000. Smartleaf Asset Management LLC increased its position in shares of TransMedics Group by 44.3% during the 1st 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 period. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of TransMedics Group during the 4th quarter valued at $31,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.