Canaccord Genuity Group Has Lowered Expectations for TransMedics Group (NASDAQ:TMDX) Stock Price

TransMedics Group (NASDAQ:TMDX) had its price target lowered by stock analysts at Canaccord Genuity Group from $95.00 to $94.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 18.54% from the company’s current price.

Several other brokerages have also recently issued reports on TMDX. Needham & Company LLC reiterated a “buy” rating on shares of TransMedics Group in a research report on Friday, September 11th. TD Cowen restated a “buy” rating and issued a $120.00 price objective on shares of TransMedics Group in a report on Tuesday, September 8th. Piper Sandler reaffirmed an “overweight” rating and set a $100.00 price objective (down from $120.00) on shares of TransMedics Group in a research report on Wednesday, August 5th. UBS Group reduced their target price on TransMedics Group from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Finally, Barclays initiated coverage on TransMedics Group in a research report on Wednesday, October 7th. They issued an “overweight” rating and a $120.00 target price for the company. Five 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $115.60.

TransMedics Group Trading Up 1.4%

TransMedics Group stock traded up $1.13 during mid-day trading on Tuesday, reaching $79.30. 634,830 shares of the company traded hands, compared to its average volume of 1,002,020. 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 firm’s 50 day moving average price is $85.94 and its 200 day moving average price is $83.52. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 1.07 and a beta of 1.94. TransMedics Group has a 52-week low of $60.10 and a 52-week high of $156.00.

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

Insider Activity

In other TransMedics Group news, Director David Weill purchased 1,336 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was bought at an average cost of $81.63 per share, for a total transaction of $109,057.68. Following the purchase, the director directly owned 16,392 shares in the company, valued at $1,338,078.96. The trade was a 8.87% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TransMedics Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Silvant Capital Management LLC purchased a new position in shares of TransMedics Group during the second quarter valued at approximately $26,000. North Star Investment Management Corp. purchased a new stake in shares of TransMedics Group in the 1st quarter worth approximately $30,000. Ascentis Independent Advisors bought a new position in TransMedics Group during the 1st quarter valued at approximately $30,000. State of Wyoming bought a new position in TransMedics Group during the 2nd quarter valued at approximately $31,000. Finally, Ancora Advisors LLC bought a new position in TransMedics Group during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

About TransMedics Group

TransMedics Group, Inc is a medical technology company that develops organ transplant systems designed to preserve and assess donated organs outside the body before transplantation. Its primary platform, the Organ Care System (OCS), uses warm perfusion technology to circulate oxygenated blood and nutrients through organs, helping maintain organ function during transport and potentially expanding the pool of organs available for transplant.

The company offers OCS solutions for heart, lung and liver transplantation.