TransMedics Group’s (TMDX) “Buy” Rating Reiterated at TD Cowen

TransMedics Group (NASDAQ:TMDX)‘s stock had its “buy” rating reissued by analysts at TD Cowen in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $120.00 price objective on the stock. TD Cowen’s target price suggests a potential upside of 37.89% from the company’s previous close.

Several other equities analysts have also issued reports on TMDX. Weiss Ratings upgraded shares of TransMedics Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 31st. Needham & Company LLC dropped their price objective on TransMedics Group from $142.00 to $106.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $124.00 target price on shares of TransMedics Group in a research note on Tuesday, June 30th. Stifel Nicolaus lifted their target price on TransMedics Group from $75.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday, June 18th. Finally, UBS Group dropped their price target on TransMedics Group from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $124.18.

TransMedics Group Trading Down 3.3%

Shares of TransMedics Group stock traded down $2.95 during midday trading on Tuesday, reaching $87.03. The company had a trading volume of 42,654 shares, compared to its average volume of 1,034,391. The stock has a fifty day moving average price of $80.60 and a 200 day moving average price of $91.64. TransMedics Group has a fifty-two week low of $60.10 and a fifty-two week high of $156.00. The firm has a market cap of $3.01 billion, a PE ratio of 22.31 and a beta of 1.90. The company has a debt-to-equity ratio of 1.62, a current ratio of 6.62 and a quick ratio of 6.07.

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

Insider Transactions at TransMedics Group

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 shares were sold at an average price of $75.06, for a total transaction of $722,377.44. Following the completion of the sale, the director owned 16,642 shares in the company, valued at approximately $1,249,148.52. The trade was a 36.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System raised its holdings in shares of TransMedics Group by 6,894.8% in the 2nd quarter. California State Teachers Retirement System now owns 2,646,837 shares of the company’s stock worth $175,803,000 after acquiring an additional 2,608,997 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in TransMedics Group by 11.9% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,069,492 shares of the company’s stock worth $119,997,000 after purchasing an additional 113,817 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in TransMedics Group by 50.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 965,931 shares of the company’s stock worth $117,506,000 after purchasing an additional 322,353 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of TransMedics Group by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 816,474 shares of the company’s stock worth $99,339,000 after purchasing an additional 2,903 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of 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 in the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

TransMedics Group Company Profile

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.