Needham & Company LLC Has Lowered Expectations for TransMedics Group (NASDAQ:TMDX) Stock Price

TransMedics Group (NASDAQ:TMDX) had its price objective reduced by investment analysts at Needham & Company LLC from $174.00 to $142.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 49.58% from the stock’s current price.

Other equities analysts have also issued reports about the company. Stifel Nicolaus boosted their target price on TransMedics Group from $115.00 to $130.00 and gave the stock a “hold” rating in a research report on Monday, March 9th. Piper Sandler boosted their target price on TransMedics Group from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Wall Street Zen lowered TransMedics Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Oppenheimer lowered TransMedics Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, TD Cowen restated a “buy” rating on shares of TransMedics Group in a research report on Monday, March 16th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, TransMedics Group has a consensus rating of “Moderate Buy” and an average price target of $148.78.

TransMedics Group Price Performance

Shares of TMDX stock opened at $94.93 on Wednesday. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 19.37 and a beta of 2.07. TransMedics Group has a 12 month low of $91.01 and a 12 month high of $156.00. The stock has a 50-day moving average price of $116.57 and a 200 day moving average price of $125.96. The company has a quick ratio of 6.59, a current ratio of 7.14 and a debt-to-equity ratio of 1.06.

TransMedics Group (NASDAQ:TMDX) last posted its earnings results on Tuesday, May 5th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.32). The company had revenue of $173.93 million for the quarter, compared to analyst estimates of $174.48 million. TransMedics Group had a return on equity of 30.17% and a net margin of 31.43%.TransMedics Group’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Research analysts expect that TransMedics Group will post 2.48 EPS for the current year.

Insiders Place Their Bets

In related news, Director David Weill sold 3,571 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $146.82, for a total value of $524,294.22. Following the completion of the transaction, the director directly owned 12,134 shares in the company, valued at approximately $1,781,513.88. The trade was a 22.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anil P. Ranganath sold 864 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $139.12, for a total value of $120,199.68. Following the completion of the transaction, the insider owned 13,091 shares of the company’s stock, valued at $1,821,219.92. This represents a 6.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 16,205 shares of company stock worth $2,353,002 in the last three months. 6.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TransMedics Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in TransMedics Group by 47.9% in the 1st quarter. Royal Bank of Canada now owns 26,582 shares of the company’s stock valued at $1,788,000 after acquiring an additional 8,604 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in TransMedics Group by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,525 shares of the company’s stock valued at $1,314,000 after acquiring an additional 868 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in TransMedics Group by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 507,510 shares of the company’s stock valued at $34,145,000 after acquiring an additional 86,721 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in TransMedics Group by 13.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,901 shares of the company’s stock valued at $1,059,000 after acquiring an additional 938 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in TransMedics Group in the 2nd quarter valued at approximately $209,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.