TransMedics Group’s (TMDX) Buy Rating Reaffirmed at TD Cowen

TransMedics Group (NASDAQ:TMDX)‘s stock had its “buy” rating reaffirmed by equities researchers at TD Cowen in a report issued on Tuesday, Benzinga reports. They currently have a $120.00 price target on the stock. TD Cowen’s price target would suggest a potential upside of 37.89% from the stock’s current price.

A number of other analysts also recently commented on TMDX. Zacks Research downgraded TransMedics Group from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Weiss Ratings upgraded TransMedics Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 31st. Piper Sandler reiterated an “overweight” rating and set a $100.00 target price (down from $120.00) on shares of TransMedics Group in a research note on Wednesday, August 5th. Canaccord Genuity Group reissued a “buy” rating and issued a $124.00 price target on shares of TransMedics Group in a report on Tuesday, June 30th. Finally, UBS Group reduced their price target on shares of TransMedics Group from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, TransMedics Group currently has an average rating of “Hold” and a consensus target price of $124.18.

TransMedics Group Stock Down 3.3%

Shares of TMDX stock traded down $2.95 on Tuesday, hitting $87.03. The stock had a trading volume of 42,654 shares, compared to its average volume of 1,034,391. The company has a debt-to-equity ratio of 1.62, a current ratio of 6.62 and a quick ratio of 6.07. The business has a 50 day moving average of $80.60 and a 200 day moving average of $91.64. TransMedics Group has a 12-month low of $60.10 and a 12-month high of $156.00. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 22.31 and a beta of 1.90.

TransMedics Group (NASDAQ:TMDX) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). The firm had revenue of $189.95 million for the quarter, compared to analysts’ expectations of $184.00 million. TransMedics Group had a return on equity of 15.88% and a net margin of 22.69%.The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. As a group, analysts expect that TransMedics Group will post 1.46 EPS for the current year.

Insider Activity at TransMedics Group

In related news, Director Thomas J. Gunderson sold 9,624 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $75.06, for a total value of $722,377.44. Following the completion of the transaction, the director directly owned 16,642 shares of the company’s stock, valued at approximately $1,249,148.52. This trade represents a 36.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On TransMedics Group

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its position in shares of TransMedics Group by 47.9% in the first quarter. Royal Bank of Canada now owns 26,582 shares of the company’s stock valued at $1,788,000 after purchasing an additional 8,604 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in TransMedics Group by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,525 shares of the company’s stock worth $1,314,000 after purchasing an additional 868 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in TransMedics Group by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 507,510 shares of the company’s stock worth $34,145,000 after purchasing an additional 86,721 shares during the period. Russell Investments Group Ltd. boosted its stake in TransMedics Group by 13.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,901 shares of the company’s stock worth $1,059,000 after purchasing an additional 938 shares during the period. Finally, M&T Bank Corp purchased a new position in TransMedics Group during the 2nd quarter valued at about $209,000. 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.