TD Cowen Reaffirms “Buy” Rating for TransMedics Group (NASDAQ:TMDX)

TransMedics Group (NASDAQ:TMDX)‘s stock had its “buy” rating reiterated by investment analysts at TD Cowen in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $120.00 price target on the stock. TD Cowen’s price objective indicates a potential upside of 72.38% from the stock’s previous close.

TMDX has been the topic of several other research reports. Piper Sandler dropped their target price on shares of TransMedics Group from $160.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Weiss Ratings reissued a “hold (c)” rating on shares of TransMedics Group in a research note on Tuesday, June 9th. Stifel Nicolaus raised their target price on TransMedics Group from $75.00 to $80.00 and gave the stock a “hold” rating in a research note on Thursday, June 18th. Needham & Company LLC cut their price target on TransMedics Group from $174.00 to $142.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $124.00 price target on shares of TransMedics Group in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $134.50.

TransMedics Group Price Performance

Shares of TMDX traded up $3.19 during midday trading on Wednesday, hitting $69.61. The company’s stock had a trading volume of 441,048 shares, compared to its average volume of 1,109,033. The company has a quick ratio of 6.19, a current ratio of 6.74 and a debt-to-equity ratio of 1.70. TransMedics Group has a one year low of $60.10 and a one year high of $156.00. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 15.88 and a beta of 1.91. The company’s fifty day simple moving average is $77.66 and its two-hundred day simple moving average is $109.34.

TransMedics Group (NASDAQ:TMDX) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.32). The business had revenue of $173.93 million for the quarter, compared to the consensus estimate of $174.44 million. TransMedics Group had a return on equity of 22.38% and a net margin of 27.04%.TransMedics Group’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. As a group, equities analysts expect that TransMedics Group will post 1.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TransMedics Group news, Director Thomas J. Gunderson sold 9,624 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $75.06, for a total value of $722,377.44. Following the transaction, the director owned 16,642 shares of the company’s stock, valued at approximately $1,249,148.52. The trade was a 36.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 6.90% of the company’s stock.

Institutional Trading of TransMedics Group

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in TransMedics Group by 50.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 965,931 shares of the company’s stock valued at $117,506,000 after acquiring an additional 322,353 shares during the last quarter. Two Sigma Investments LP lifted its stake in TransMedics Group by 54.2% in the third quarter. Two Sigma Investments LP now owns 635,394 shares of the company’s stock valued at $71,291,000 after purchasing an additional 223,409 shares during the last quarter. Wellington Management Group LLP grew its holdings in TransMedics Group by 100.5% during the fourth quarter. Wellington Management Group LLP now owns 433,321 shares of the company’s stock valued at $52,713,000 after purchasing an additional 217,180 shares during the period. Price T Rowe Associates Inc. MD increased its position in TransMedics Group by 43.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 569,970 shares of the company’s stock worth $69,338,000 after buying an additional 171,810 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of TransMedics Group by 11.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,069,492 shares of the company’s stock valued at $119,997,000 after buying an additional 113,817 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

About TransMedics Group

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.