TransMedics Group (NASDAQ:TMDX) Price Target Lowered to $116.00 at JPMorgan Chase & Co.

TransMedics Group (NASDAQ:TMDX) had its target price dropped by JPMorgan Chase & Co. from $173.00 to $116.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 30.57% from the stock’s previous close.

Several other equities analysts have also commented on TMDX. Canaccord Genuity Group reduced their price target on TransMedics Group from $169.00 to $109.00 and set a “buy” rating on the stock in a research report on Tuesday. Piper Sandler reissued an “overweight” rating and set a $180.00 price target on shares of TransMedics Group in a research report on Monday, October 7th. Robert W. Baird reduced their price target on TransMedics Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a research report on Tuesday. Needham & Company LLC reduced their price target on TransMedics Group from $208.00 to $109.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Oppenheimer reduced their price target on TransMedics Group from $200.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, TransMedics Group has an average rating of “Buy” and an average price target of $144.80.

TransMedics Group Trading Down 29.6 %

NASDAQ:TMDX traded down $37.40 during mid-day trading on Tuesday, reaching $88.84. The company’s stock had a trading volume of 5,182,967 shares, compared to its average volume of 883,025. The company’s fifty day simple moving average is $147.58 and its two-hundred day simple moving average is $140.19. The company has a debt-to-equity ratio of 2.67, a current ratio of 9.37 and a quick ratio of 8.48. TransMedics Group has a twelve month low of $36.42 and a twelve month high of $177.37. The stock has a market cap of $2.96 billion, a P/E ratio of 2,225.00 and a beta of 1.99.

TransMedics Group (NASDAQ:TMDX) last released its quarterly earnings data on Monday, October 28th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.16). The firm had revenue of $108.76 million during the quarter, compared to analyst estimates of $115.00 million. TransMedics Group had a net margin of 0.84% and a return on equity of 15.98%. The business’s revenue for the quarter was up 63.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) earnings per share. On average, equities analysts predict that TransMedics Group will post 1.22 EPS for the current year.

Insider Activity

In related news, insider Anil P. Ranganath sold 4,289 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $152.20, for a total transaction of $652,785.80. Following the completion of the transaction, the insider now directly owns 8,893 shares in the company, valued at $1,353,514.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other TransMedics Group news, Director James R. Tobin sold 20,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $159.33, for a total transaction of $3,186,600.00. Following the completion of the transaction, the director now owns 173,146 shares in the company, valued at approximately $27,587,352.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anil P. Ranganath sold 4,289 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $152.20, for a total value of $652,785.80. Following the transaction, the insider now owns 8,893 shares of the company’s stock, valued at $1,353,514.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,205 shares of company stock worth $9,981,907. 7.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in TransMedics Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,889,094 shares of the company’s stock worth $139,680,000 after acquiring an additional 23,979 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of TransMedics Group by 15.8% in the second quarter. Driehaus Capital Management LLC now owns 1,486,073 shares of the company’s stock valued at $223,832,000 after buying an additional 202,867 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of TransMedics Group by 3.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 730,010 shares of the company’s stock valued at $53,977,000 after buying an additional 21,737 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of TransMedics Group by 8.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 297,324 shares of the company’s stock valued at $21,985,000 after buying an additional 22,223 shares during the period. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of TransMedics Group in the second quarter valued at $39,862,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

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.