Canaccord Genuity Group Increases TransMedics Group (NASDAQ:TMDX) Price Target to $117.00

TransMedics Group (NASDAQ:TMDX) had its target price lifted by Canaccord Genuity Group from $102.00 to $117.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also commented on TMDX. Morgan Stanley raised their price target on TransMedics Group from $75.00 to $95.00 and gave the stock an equal weight rating in a report on Wednesday, February 28th. Piper Sandler reaffirmed an overweight rating and set a $120.00 target price (up previously from $95.00) on shares of TransMedics Group in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of TransMedics Group from $105.00 to $127.00 and gave the stock an overweight rating in a report on Wednesday. Finally, Oppenheimer raised their price objective on shares of TransMedics Group from $105.00 to $125.00 and gave the company an outperform rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $119.00.

TransMedics Group Trading Up 2.9 %

Shares of TransMedics Group stock opened at $127.99 on Wednesday. The stock has a market capitalization of $4.19 billion, a P/E ratio of -376.44 and a beta of 1.87. TransMedics Group has a 52-week low of $36.42 and a 52-week high of $129.66. The company has a debt-to-equity ratio of 3.69, a quick ratio of 8.49 and a current ratio of 9.30. The stock’s 50-day simple moving average is $85.54 and its 200 day simple moving average is $76.85.

TransMedics Group (NASDAQ:TMDX) last posted its earnings results on Tuesday, April 30th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.40. The firm had revenue of $96.90 million during the quarter, compared to the consensus estimate of $83.78 million. TransMedics Group had a negative net margin of 3.43% and a positive return on equity of 8.29%. The company’s revenue was up 132.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) earnings per share. As a group, research analysts anticipate that TransMedics Group will post -0.14 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Stephen Gordon sold 15,000 shares of TransMedics Group stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $74.01, for a total transaction of $1,110,150.00. Following the completion of the sale, the chief financial officer now owns 23,299 shares in the company, valued at approximately $1,724,358.99. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Tamer I. Khayal sold 736 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $90.09, for a total value of $66,306.24. Following the completion of the transaction, the insider now directly owns 14,375 shares in the company, valued at $1,295,043.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen Gordon sold 15,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $74.01, for a total value of $1,110,150.00. Following the completion of the transaction, the chief financial officer now directly owns 23,299 shares in the company, valued at approximately $1,724,358.99. The disclosure for this sale can be found here. Insiders have sold 236,378 shares of company stock worth $23,633,449 in the last ninety days. 7.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TransMedics Group

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its holdings in shares of TransMedics Group by 42.5% during the 3rd quarter. FMR LLC now owns 4,714,870 shares of the company’s stock valued at $258,139,000 after buying an additional 1,407,171 shares in the last quarter. Eventide Asset Management LLC grew its position in TransMedics Group by 1,271.7% during the third quarter. Eventide Asset Management LLC now owns 925,356 shares of the company’s stock valued at $50,663,000 after acquiring an additional 857,895 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of TransMedics Group during the fourth quarter worth approximately $35,804,000. Wasatch Advisors LP bought a new stake in shares of TransMedics Group in the 1st quarter worth approximately $32,162,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of TransMedics Group by 91.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 760,099 shares of the company’s stock valued at $41,615,000 after purchasing an additional 363,012 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

TransMedics Group Company Profile

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.