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

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

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC reduced their target price 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. Piper Sandler restated an “overweight” rating and set a $180.00 price objective on shares of TransMedics Group in a research report on Tuesday, October 29th. Baird R W upgraded shares of TransMedics Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Robert W. Baird cut their price objective on shares of TransMedics Group from $200.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Finally, Stephens raised their price objective on shares of TransMedics Group from $151.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One 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 has a consensus rating of “Buy” and a consensus target price of $131.80.

TransMedics Group Stock Performance

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 company has a market cap of $2.59 billion, a price-to-earnings 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. The firm’s fifty day simple moving average is $123.41 and its two-hundred day simple moving average is $138.93.

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

Insider Buying and Selling

In other TransMedics Group news, insider Nicholas Corcoran sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $176.02, for a total transaction of $1,760,200.00. Following the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward M. Basile sold 6,750 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.55, for a total transaction of $563,962.50. Following the sale, the director now directly owns 732 shares in the company, valued at approximately $61,158.60. The trade was a 90.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,958 shares of company stock worth $5,230,528 over the last 90 days. 7.00% of the stock is owned by insiders.

Hedge Funds Weigh In On TransMedics Group

Institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in shares of TransMedics Group in the 2nd quarter valued at $47,000. USA Financial Formulas acquired a new position in TransMedics Group in the 3rd quarter valued at $55,000. Quarry LP increased its stake in TransMedics Group by 557.1% in the 3rd quarter. Quarry LP now owns 368 shares of the company’s stock valued at $58,000 after buying an additional 312 shares during the period. National Bank of Canada FI increased its stake in TransMedics Group by 174.7% in 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 period. Finally, J.Safra Asset Management Corp increased its stake in TransMedics Group by 649.2% in 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 institutional investors and hedge funds.

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.