Morgan Stanley Forecasts Strong Price Appreciation for TransMedics Group (NASDAQ:TMDX) Stock

TransMedics Group (NASDAQ:TMDX) had its price target increased by research analysts at Morgan Stanley from $123.00 to $135.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 7.20% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Wall Street Zen raised shares of TransMedics Group from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Weiss Ratings restated a “hold (c)” rating on shares of TransMedics Group in a report on Wednesday, October 8th. Evercore ISI started coverage on TransMedics Group in a report on Tuesday, September 16th. They set an “outperform” rating and a $155.00 price objective on the stock. Jefferies Financial Group assumed coverage on TransMedics Group in a research report on Monday, October 13th. They issued a “buy” rating and a $145.00 price objective for the company. Finally, Piper Sandler dropped their target price on shares of TransMedics Group from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, TransMedics Group has an average rating of “Moderate Buy” and an average price target of $133.00.

TransMedics Group Trading Down 3.3%

NASDAQ:TMDX traded down $4.95 during mid-day trading on Tuesday, hitting $145.47. The company had a trading volume of 658,305 shares, compared to its average volume of 1,218,515. The company has a debt-to-equity ratio of 1.43, a quick ratio of 7.13 and a current ratio of 7.69. TransMedics Group has a fifty-two week low of $55.00 and a fifty-two week high of $156.00. The firm has a market cap of $4.97 billion, a P/E ratio of 59.01 and a beta of 2.06. The business’s fifty day moving average is $123.18 and its two-hundred day moving average is $122.38.

TransMedics Group (NASDAQ:TMDX) last posted its earnings results on Wednesday, October 29th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.29. The company had revenue of $143.82 million during the quarter, compared to analyst estimates of $145.33 million. TransMedics Group had a return on equity of 31.42% and a net margin of 16.20%.The company’s revenue for the quarter was up 32.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 EPS. As a group, research analysts expect that TransMedics Group will post 1 earnings per share for the current year.

Insider Activity at TransMedics Group

In other TransMedics Group news, Director Edward M. Basile sold 4,142 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $130.45, for a total value of $540,323.90. Following the sale, the director owned 2,866 shares in the company, valued at approximately $373,869.70. The trade was a 59.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anil P. Ranganath sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $145.22, for a total transaction of $435,660.00. Following the transaction, the insider directly owned 13,955 shares of the company’s stock, valued at $2,026,545.10. This represents a 17.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On TransMedics Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMDX. Opal Wealth Advisors LLC acquired a new position in shares of TransMedics Group during the 2nd quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. raised its holdings in TransMedics Group by 981.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 227 shares of the company’s stock worth $26,000 after acquiring an additional 206 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in TransMedics Group during the third quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd acquired a new position in TransMedics Group during the third quarter valued at approximately $29,000. Finally, Smartleaf Asset Management LLC grew its stake in TransMedics Group by 44.3% in the first quarter. Smartleaf Asset Management LLC now owns 440 shares of the company’s stock valued at $30,000 after purchasing an additional 135 shares in the last quarter. 99.67% of the stock is currently 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.