Canaccord Genuity Group Cuts TransMedics Group (NASDAQ:TMDX) Price Target to $104.00

TransMedics Group (NASDAQ:TMDX) had its price target lowered by Canaccord Genuity Group from $109.00 to $104.00 in a research note released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also weighed in on TMDX. Robert W. Baird reduced their target price on TransMedics Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price target on shares of TransMedics Group in a research note on Tuesday, October 29th. TD Cowen decreased their price objective on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a report on Monday, November 18th. Needham & Company LLC lowered their price objective on shares of TransMedics Group from $208.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, Oppenheimer reduced their target price on shares of TransMedics Group from $200.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $131.80.

TransMedics Group Price Performance

TransMedics Group stock opened at $76.04 on Wednesday. TransMedics Group has a 12-month low of $67.77 and a 12-month high of $177.37. The company has a current ratio of 8.20, a quick ratio of 7.33 and a debt-to-equity ratio of 2.42. The firm has a 50-day moving average price of $120.68 and a 200-day moving average price of $138.09. The firm has a market capitalization of $2.55 billion, a PE ratio of 79.26 and a beta of 2.08.

TransMedics Group (NASDAQ:TMDX) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.17). The firm had revenue of $108.76 million during the quarter, compared to the consensus estimate of $115.00 million. TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The firm’s revenue for the quarter was up 63.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) EPS. As a group, equities research analysts forecast that TransMedics Group will post 1 EPS for the current year.

Insider Buying and Selling at TransMedics Group

In other TransMedics Group news, insider Nicholas Corcoran sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $176.02, for a total value of $1,760,200.00. Following the completion of the sale, the insider now owns 21,105 shares of the company’s stock, valued at approximately $3,714,902.10. This trade represents a 32.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Waleed H. Hassanein sold 8,625 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $153.42, for a total value of $1,323,247.50. Following the sale, the chief executive officer now owns 61,643 shares in the company, valued at $9,457,269.06. The trade was a 12.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,958 shares of company stock valued at $5,230,528. 7.00% of the stock is currently owned by insiders.

Institutional Trading of TransMedics Group

A number of institutional investors have recently bought and sold shares of TMDX. Vanguard Group Inc. raised its holdings in shares of TransMedics Group by 1.3% in the first quarter. Vanguard Group Inc. now owns 1,889,094 shares of the company’s stock worth $139,680,000 after buying an additional 23,979 shares during the last quarter. Driehaus Capital Management LLC lifted its position in TransMedics Group by 15.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,486,073 shares of the company’s stock worth $223,832,000 after acquiring an additional 202,867 shares during the period. Geode Capital Management LLC grew its stake in TransMedics Group by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 763,790 shares of the company’s stock valued at $119,938,000 after purchasing an additional 10,106 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of TransMedics Group by 5.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 599,116 shares of the company’s stock valued at $94,061,000 after purchasing an additional 30,092 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of TransMedics Group by 24.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 329,010 shares of the company’s stock worth $51,654,000 after purchasing an additional 64,360 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.