Canaccord Genuity Group Has Lowered Expectations for TransMedics Group (NASDAQ:TMDX) Stock Price

TransMedics Group (NASDAQ:TMDX) had its target price dropped by Canaccord Genuity Group from $109.00 to $104.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 31.08% from the stock’s previous close.

A number of other analysts also recently weighed in on TMDX. Oppenheimer cut their target price on TransMedics Group from $200.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reduced their target price on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Baird R W raised shares of TransMedics Group to a “strong-buy” rating in a research note on Tuesday, September 24th. Stephens raised their price objective on TransMedics Group from $151.00 to $178.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $180.00 target price on shares of TransMedics Group in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $131.80.

TransMedics Group Price Performance

TMDX stock opened at $79.34 on Wednesday. The firm has a 50 day simple moving average of $122.08 and a two-hundred day simple moving average of $138.50. The stock has a market cap of $2.66 billion, a PE ratio of 82.13 and a beta of 2.08. TransMedics Group has a one year low of $67.77 and a one year high of $177.37. The company has a debt-to-equity ratio of 2.42, a current ratio of 8.20 and a quick ratio of 7.33.

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

Insiders Place Their Bets

In other news, insider Nicholas Corcoran sold 10,000 shares of the firm’s stock in a transaction dated 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 directly owns 21,105 shares of the company’s stock, valued at approximately $3,714,902.10. This trade represents a 32.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Waleed H. Hassanein sold 8,625 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $153.42, for a total transaction of $1,323,247.50. Following the completion of the transaction, the chief executive officer now directly owns 61,643 shares of the company’s stock, valued at approximately $9,457,269.06. The trade was a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,958 shares of company stock worth $5,230,528. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of TransMedics Group

A number of hedge funds and other institutional investors have recently modified their holdings of TMDX. International Assets Investment Management LLC bought a new position in shares of TransMedics Group in the second quarter worth approximately $47,000. USA Financial Formulas purchased a new stake in TransMedics Group in the third quarter worth approximately $55,000. Quarry LP grew its position in TransMedics Group by 557.1% in the 3rd quarter. Quarry LP now owns 368 shares of the company’s stock worth $58,000 after purchasing an additional 312 shares during the period. National Bank of Canada FI raised its stake in TransMedics Group by 174.7% during the 3rd quarter. National Bank of Canada FI now owns 412 shares of the company’s stock valued at $65,000 after buying an additional 262 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in shares of TransMedics Group by 649.2% during the 2nd quarter. J.Safra Asset Management Corp now owns 442 shares of the company’s stock valued at $67,000 after buying an additional 383 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

TransMedics Group Company Profile

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.