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

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 analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

A number of other research analysts also recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of TransMedics Group from $129.00 to $142.00 and gave the company a "buy" rating in a research report on Tuesday, July 15th. Morgan Stanley boosted their target price on shares of TransMedics Group from $115.00 to $123.00 and gave the company an "equal weight" rating in a research report on Friday. Piper Sandler restated an "overweight" rating and set a $145.00 target price (up from $125.00) on shares of TransMedics Group in a research report on Wednesday, June 4th. Needham & Company LLC restated a "hold" rating on shares of TransMedics Group in a research report on Tuesday, June 17th. Finally, Oppenheimer lifted their price objective 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. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given 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 Stock Up 6.6%

Shares of NASDAQ TMDX traded up $7.95 during midday trading on Friday, reaching $128.50. 1,901,994 shares of the company's stock traded hands, compared to its average volume of 1,365,406. The company has a quick ratio of 9.17, a current ratio of 9.86 and a debt-to-equity ratio of 1.61. The stock's 50 day simple moving average is $124.51 and its 200-day simple moving average is $95.50. TransMedics Group has a one year low of $55.00 and a one year high of $177.37. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 66.58 and a beta of 2.09.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $157.37 million for the quarter, compared to the consensus estimate of $146.64 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company's revenue for the quarter was up 37.7% compared to the same quarter last year. On average, analysts predict that TransMedics Group will post 1 EPS for the current fiscal year.

Insider Buying and Selling at TransMedics Group

In other news, insider Anil P. Ranganath sold 686 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $139.80, for a total value of $95,902.80. Following the transaction, the insider directly owned 13,955 shares in the company, valued at approximately $1,950,909. This represents a 4.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Weill sold 732 shares of the company'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 transaction of $90,680.16. Following the completion of the transaction, the director owned 12,134 shares in the company, valued at approximately $1,503,159.92. This represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,418 shares of company stock worth $1,512,613 in the last ninety days. 7.00% of the stock is owned by insiders.

Institutional Investors Weigh In On TransMedics Group

A number of hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its holdings in 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 buying an additional 80 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of TransMedics Group by 44.3% in 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 last quarter. CWM LLC increased its position in shares of TransMedics Group by 20.1% in the 1st quarter. CWM LLC now owns 925 shares of the company's stock valued at $62,000 after purchasing an additional 155 shares during the last quarter. Campbell Newman Asset Management Inc. increased its position in shares of TransMedics Group by 1.4% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 11,619 shares of the company's stock valued at $782,000 after purchasing an additional 166 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its position in shares of TransMedics Group by 1.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 9,943 shares of the company's stock valued at $1,332,000 after purchasing an additional 185 shares during the last quarter. 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.