Needham & Company LLC Lowers TransMedics Group (NASDAQ:TMDX) Price Target to $106.00

TransMedics Group (NASDAQ:TMDX) had its price objective dropped by analysts at Needham & Company LLC from $142.00 to $106.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 38.54% from the stock’s previous close.

TMDX has been the subject of several other reports. Piper Sandler reiterated an “overweight” rating on shares of TransMedics Group in a research note on Wednesday, July 22nd. Canaccord Genuity Group reissued a “buy” rating and issued a $124.00 target price on shares of TransMedics Group in a report on Tuesday, June 30th. Oppenheimer downgraded TransMedics Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 6th. Weiss Ratings lowered shares of TransMedics Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Finally, UBS Group assumed coverage on TransMedics Group in a research note on Tuesday, July 28th. They issued a “neutral” rating and a $80.00 price target for the company. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $126.27.

TransMedics Group Stock Performance

NASDAQ TMDX opened at $76.51 on Monday. The firm has a market capitalization of $2.64 billion, a P/E ratio of 17.39 and a beta of 1.89. The firm’s fifty day moving average price is $72.55 and its two-hundred day moving average price is $100.58. TransMedics Group has a 1 year low of $60.10 and a 1 year high of $156.00. The company has a current ratio of 6.74, a quick ratio of 6.19 and a debt-to-equity ratio of 1.70.

TransMedics Group (NASDAQ:TMDX) last released its quarterly earnings data 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). TransMedics Group had a net margin of 27.04% and a return on equity of 22.38%. The business had revenue of $173.93 million during the quarter, compared to the consensus estimate of $174.44 million. During the same quarter in the prior year, the company earned $0.70 EPS. TransMedics Group’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, research analysts anticipate that TransMedics Group will post 1.88 EPS for the current year.

Insider Activity

In other news, Director Thomas J. Gunderson sold 9,624 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $75.06, for a total transaction of $722,377.44. Following the transaction, the director owned 16,642 shares of the company’s stock, valued at $1,249,148.52. This represents a 36.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On TransMedics Group

A number of hedge funds have recently added to or reduced their stakes in TMDX. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in TransMedics Group by 11.9% in 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 valued at $119,997,000 after purchasing an additional 113,817 shares during the period. Goldman Sachs Group Inc. grew its position in TransMedics Group by 50.1% in 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 increased its position in shares of TransMedics Group by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 816,474 shares of the company’s stock valued at $99,339,000 after acquiring an additional 2,903 shares during the last quarter. Two Sigma Investments LP increased its position in shares of TransMedics Group by 54.2% during the 3rd 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in TransMedics Group by 43.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 569,970 shares of the company’s stock worth $69,338,000 after acquiring an additional 171,810 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

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.