Needham & Company LLC Reaffirms Hold Rating for TransMedics Group (NASDAQ:TMDX)

TransMedics Group (NASDAQ:TMDX)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports.

Several other analysts have also recently weighed in on TMDX. Piper Sandler lowered their price objective on shares of TransMedics Group from $110.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday. Oppenheimer restated an “outperform” rating and set a $125.00 price target on shares of TransMedics Group in a research report on Tuesday, December 3rd. TD Cowen cut their price objective on TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a report on Monday, November 18th. Baird R W upgraded TransMedics Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Canaccord Genuity Group dropped their target price on TransMedics Group from $109.00 to $104.00 and set a “buy” rating for the company in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.80.

TransMedics Group Price Performance

Shares of NASDAQ TMDX opened at $68.99 on Wednesday. The stock’s 50-day simple moving average is $101.87 and its two-hundred day simple moving average is $133.40. TransMedics Group has a twelve month low of $65.78 and a twelve month high of $177.37. The firm has a market capitalization of $2.32 billion, a P/E ratio of 73.39 and a beta of 2.06. The company has a quick ratio of 7.33, a current ratio of 8.20 and a debt-to-equity ratio of 2.42.

TransMedics Group (NASDAQ:TMDX) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.17). The business had revenue of $108.76 million for the quarter, compared to analysts’ expectations of $115.00 million. TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The firm’s revenue for the quarter was up 63.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.12) EPS. As a group, equities analysts anticipate that TransMedics Group will post 1 EPS for the current fiscal year.

Insider Buying and Selling

In other TransMedics Group news, insider Tamer I. Khayal sold 1,084 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $86.40, for a total transaction of $93,657.60. Following the completion of the transaction, the insider now owns 20,843 shares of the company’s stock, valued at $1,800,835.20. This represents a 4.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Waleed H. Hassanein sold 8,625 shares of TransMedics Group stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $153.42, for a total value of $1,323,247.50. Following the completion of the sale, the chief executive officer now owns 61,643 shares in the company, valued at approximately $9,457,269.06. This represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,042 shares of company stock worth $3,563,985 in the last ninety days. 7.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in TransMedics Group during the 2nd quarter valued at approximately $47,000. USA Financial Formulas purchased a new position in shares of TransMedics Group in the 3rd quarter valued at approximately $55,000. Quarry LP boosted its position in shares of TransMedics Group by 557.1% during the third quarter. Quarry LP now owns 368 shares of the company’s stock valued at $58,000 after purchasing an additional 312 shares in the last quarter. National Bank of Canada FI grew its stake in TransMedics Group by 174.7% in the third quarter. National Bank of Canada FI now owns 412 shares of the company’s stock worth $65,000 after purchasing an additional 262 shares during the period. Finally, Signaturefd LLC raised its holdings in TransMedics Group by 26.6% in the second quarter. Signaturefd LLC now owns 443 shares of the company’s stock worth $67,000 after purchasing an additional 93 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.