TransMedics Group (NASDAQ:TMDX) Price Target Raised to $117.00

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

Several other analysts also recently issued reports on the company. Morgan Stanley upped their price objective on TransMedics Group from $75.00 to $95.00 and gave the company an equal weight rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. upped their price target on shares of TransMedics Group from $105.00 to $127.00 and gave the company an overweight rating in a research note on Wednesday. Piper Sandler reiterated an overweight rating and issued a $120.00 price objective (up previously from $95.00) on shares of TransMedics Group in a research note on Wednesday. Finally, Oppenheimer boosted their price objective on shares of TransMedics Group from $105.00 to $125.00 and gave the company an outperform rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $119.00.

TransMedics Group Stock Performance

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

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

Insider Activity at TransMedics Group

In other TransMedics Group news, Director James R. Tobin sold 15,040 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $106.43, for a total transaction of $1,600,707.20. Following the sale, the director now directly owns 205,171 shares in the company, valued at $21,836,349.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director James R. Tobin sold 15,040 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $106.43, for a total transaction of $1,600,707.20. Following the completion of the sale, the director now owns 205,171 shares of the company’s stock, valued at approximately $21,836,349.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Waleed H. Hassanein sold 56,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $115.63, for a total transaction of $6,475,280.00. Following the sale, the chief executive officer now owns 74,087 shares in the company, valued at approximately $8,566,679.81. The disclosure for this sale can be found here. Insiders sold a total of 236,378 shares of company stock valued at $23,633,449 over the last quarter. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TransMedics Group

Several hedge funds and other institutional investors have recently modified their holdings of TMDX. J.W. Cole Advisors Inc. bought a new stake in shares of TransMedics Group during the 3rd quarter worth $929,000. Bank of New York Mellon Corp raised its stake in TransMedics Group by 91.4% during the third quarter. Bank of New York Mellon Corp now owns 760,099 shares of the company’s stock worth $41,615,000 after acquiring an additional 363,012 shares in the last quarter. Shariaportfolio Inc. acquired a new position in TransMedics Group during the third quarter worth about $470,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of TransMedics Group by 12.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,913 shares of the company’s stock worth $378,000 after acquiring an additional 763 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of TransMedics Group by 12.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,940 shares of the company’s stock valued at $818,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

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.