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

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

Other equities analysts also recently issued research reports about the company. Piper Sandler decreased their target price on TransMedics Group from $160.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Canaccord Genuity Group restated a “buy” rating and issued a $124.00 price target on shares of TransMedics Group in a research note on Tuesday. Wall Street Zen lowered TransMedics Group from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Stifel Nicolaus increased their price objective on TransMedics Group from $75.00 to $80.00 and gave the stock a “hold” rating in a research report on Thursday, June 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of TransMedics Group in a report on Tuesday, June 9th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $134.50.

TransMedics Group Stock Up 4.8%

Shares of NASDAQ:TMDX traded up $3.19 during midday trading on Wednesday, reaching $69.61. The company 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. The business’s 50 day moving average price is $77.66 and its 200 day moving average price is $109.34. The stock has a market cap of $2.41 billion, a PE ratio of 15.88 and a beta of 1.91. TransMedics Group has a 1-year low of $60.10 and a 1-year high of $156.00.

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

Insider Transactions at TransMedics Group

In related news, Director Thomas J. Gunderson sold 9,624 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $75.06, for a total transaction of $722,377.44. Following the sale, the director owned 16,642 shares of the company’s stock, valued at $1,249,148.52. This represents a 36.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.90% of the stock is owned by corporate insiders.

Institutional Trading of TransMedics Group

A number of institutional investors have recently modified their holdings of TMDX. Harvest Fund Management Co. Ltd acquired a new stake in TransMedics Group during the third quarter worth about $29,000. North Star Investment Management Corp. acquired a new position in shares of TransMedics Group in the 1st quarter valued at approximately $30,000. Ascentis Independent Advisors acquired a new position in shares of TransMedics Group in the 1st quarter valued at approximately $30,000. Allworth Financial LP lifted its holdings in shares of TransMedics Group by 74.3% during the 3rd quarter. Allworth Financial LP now owns 265 shares of the company’s stock worth $30,000 after acquiring an additional 113 shares during the period. Finally, LOM Asset Management Ltd bought a new stake in shares of TransMedics Group during the 3rd quarter worth approximately $34,000. 99.67% of the stock is currently owned by institutional investors.

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.