TransMedics Group (NASDAQ:TMDX) Price Target Lowered to $104.00 at Canaccord Genuity Group

TransMedics Group (NASDAQ:TMDX) had its price target reduced by Canaccord Genuity Group from $109.00 to $104.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently commented on TMDX. TD Cowen dropped their price target on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a research note on Monday. JPMorgan Chase & Co. dropped their price target on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Robert W. Baird dropped their price target on shares of TransMedics Group from $200.00 to $150.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Oppenheimer dropped their price target on shares of TransMedics Group from $200.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Finally, Needham & Company LLC lowered their price objective on shares of TransMedics Group from $208.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $131.80.

TransMedics Group Price Performance

NASDAQ:TMDX opened at $77.20 on Wednesday. The company has a quick ratio of 7.33, a current ratio of 8.20 and a debt-to-equity ratio of 2.42. The business’s 50-day simple moving average is $123.41 and its two-hundred day simple moving average is $138.93. The stock has a market cap of $2.59 billion, a PE ratio of 82.13 and a beta of 2.08. TransMedics Group has a 52 week low of $66.76 and a 52 week high of $177.37.

TransMedics Group (NASDAQ:TMDX) last posted its earnings results on Monday, October 28th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.17). TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The business had revenue of $108.76 million during the quarter, compared to the consensus estimate of $115.00 million. During the same quarter last year, the firm earned ($0.12) earnings per share. The business’s quarterly revenue was up 63.7% on a year-over-year basis. As a group, analysts forecast that TransMedics Group will post 1 EPS for the current fiscal year.

Insider Activity

In other news, insider Nicholas Corcoran sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $176.02, for a total value of $1,760,200.00. Following the sale, the insider now directly owns 21,105 shares of the company’s stock, valued at $3,714,902.10. This represents a 32.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Waleed H. Hassanein sold 8,625 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $153.42, for a total transaction of $1,323,247.50. Following the completion of the sale, the chief executive officer now directly owns 61,643 shares in the company, valued at $9,457,269.06. This trade represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,958 shares of company stock valued at $5,230,528 in the last ninety days. Insiders own 7.00% of the company’s stock.

Institutional Trading of TransMedics Group

Large investors have recently made changes to their positions in the business. Amalgamated Bank boosted its holdings in TransMedics Group by 6.7% during the second quarter. Amalgamated Bank now owns 1,114 shares of the company’s stock worth $168,000 after buying an additional 70 shares in the last quarter. Pitcairn Co. boosted its holdings in TransMedics Group by 1.5% during the first quarter. Pitcairn Co. now owns 5,378 shares of the company’s stock worth $398,000 after buying an additional 78 shares in the last quarter. Harbour Capital Advisors LLC boosted its holdings in TransMedics Group by 1.7% during the third quarter. Harbour Capital Advisors LLC now owns 4,841 shares of the company’s stock worth $760,000 after buying an additional 81 shares in the last quarter. Signaturefd LLC boosted its holdings in TransMedics Group by 26.6% during the second quarter. Signaturefd LLC now owns 443 shares of the company’s stock worth $67,000 after buying an additional 93 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in TransMedics Group by 2.1% during the second quarter. Arizona State Retirement System now owns 9,158 shares of the company’s stock worth $1,379,000 after buying an additional 186 shares in the last quarter. 99.67% of the stock is 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.