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

TransMedics Group (NASDAQ:TMDX) had its price objective lifted by equities research analysts at Canaccord Genuity Group from $102.00 to $117.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential downside of 3.51% from the company’s current price.

Several other research firms have also commented on TMDX. Piper Sandler reissued 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. JPMorgan Chase & Co. boosted their price target on shares of TransMedics Group from $105.00 to $127.00 and gave the stock an “overweight” rating in a research note on Wednesday. Oppenheimer increased their price objective on TransMedics Group from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Morgan Stanley boosted their target price on TransMedics Group from $75.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TransMedics Group has a consensus rating of “Moderate Buy” and a consensus price target of $119.00.

TransMedics Group Trading Up 28.8 %

Shares of TMDX stock traded up $27.13 on Wednesday, hitting $121.26. 3,951,867 shares of the stock traded hands, compared to its average volume of 734,893. 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 has a twelve month low of $36.42 and a twelve month high of $121.92. The firm’s 50-day moving average price is $83.23 and its two-hundred day moving average price is $75.63. The stock has a market capitalization of $3.97 billion, a PE ratio of -157.48 and a beta of 1.99.

TransMedics Group (NASDAQ:TMDX) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.40. The business had revenue of $96.90 million for the quarter, compared to analyst estimates of $83.78 million. TransMedics Group had a negative return on equity of 2.35% and a negative net margin of 10.36%. The company’s quarterly revenue was up 132.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.08) EPS. As a group, analysts anticipate that TransMedics Group will post -0.14 EPS for the current year.

Insider Transactions at TransMedics Group

In other news, CFO Stephen Gordon sold 15,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $74.01, for a total transaction of $1,110,150.00. Following the transaction, the chief financial officer now directly owns 23,299 shares of the company’s stock, valued at approximately $1,724,358.99. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other TransMedics Group news, CFO Stephen Gordon sold 15,000 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 23,299 shares in the company, valued at $1,724,358.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Waleed H. Hassanein sold 12,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $95.09, for a total value of $1,141,080.00. Following the completion of the transaction, the chief executive officer now owns 74,087 shares of the company’s stock, valued at approximately $7,044,932.83. The disclosure for this sale can be found here. In the last three months, insiders sold 117,078 shares of company stock valued at $9,972,971. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of TransMedics Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC purchased a new position in shares of TransMedics Group during the 1st quarter worth $30,000. Cutler Group LLC CA lifted its position in TransMedics Group by 600.0% during the third quarter. Cutler Group LLC CA now owns 700 shares of the company’s stock worth $38,000 after buying an additional 600 shares during the period. First Horizon Advisors Inc. boosted its stake in TransMedics Group by 26.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,049 shares of the company’s stock worth $83,000 after buying an additional 222 shares during the last quarter. RiverPark Advisors LLC purchased a new stake in TransMedics Group in the 3rd quarter valued at about $60,000. Finally, Van ECK Associates Corp lifted its holdings in shares of TransMedics Group by 39.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,127 shares of the company’s stock worth $116,000 after acquiring an additional 597 shares during the period. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

About TransMedics Group

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.