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

TransMedics Group (NASDAQ:TMDX) had its price objective decreased by Canaccord Genuity Group from $109.00 to $104.00 in a research note published on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

TMDX has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their price target on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. TD Cowen cut their target price 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, November 18th. Oppenheimer reduced 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 report on Tuesday, October 29th. Needham & Company LLC lowered their price objective on TransMedics Group from $208.00 to $109.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Finally, Baird R W upgraded TransMedics Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.80.

TransMedics Group Stock Performance

Shares of NASDAQ TMDX opened at $76.04 on Wednesday. The company’s fifty day moving average price is $120.68 and its 200 day moving average price is $138.09. The company has a market capitalization of $2.55 billion, a PE ratio of 79.26 and a beta of 2.08. TransMedics Group has a 1 year low of $67.77 and a 1 year high of $177.37. The company has a debt-to-equity ratio of 2.42, a quick ratio of 7.33 and a current ratio of 8.20.

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

Insider Buying and Selling at TransMedics Group

In other news, insider Nicholas Corcoran sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now 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 filing with the SEC, which is available at this hyperlink. Also, CEO Waleed H. Hassanein sold 8,625 shares of TransMedics Group stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 61,643 shares in the company, valued at approximately $9,457,269.06. The trade was a 12.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,958 shares of company stock worth $5,230,528 in the last three months. 7.00% of the stock is owned by corporate insiders.

Institutional Trading of TransMedics Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of TransMedics Group in the 2nd quarter valued at approximately $39,862,000. Driehaus Capital Management LLC raised its position in 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 purchasing an additional 202,867 shares during the period. Principal Financial Group Inc. lifted its stake in TransMedics Group by 260.1% during the third quarter. Principal Financial Group Inc. now owns 202,287 shares of the company’s stock worth $31,759,000 after purchasing an additional 146,115 shares in the last quarter. Hood River Capital Management LLC purchased a new position in shares of TransMedics Group during the second quarter worth $18,854,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of TransMedics Group in the second quarter valued at $16,086,000. 99.67% of the stock is owned by institutional investors and hedge funds.

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.