TransMedics Group (NASDAQ:TMDX) Trading Up 9.7% on Analyst Upgrade

TransMedics Group, Inc. (NASDAQ:TMDX)’s stock price was up 9.7% on Thursday after Stifel Nicolaus raised their price target on the stock from $75.00 to $80.00. Stifel Nicolaus currently has a hold rating on the stock. TransMedics Group traded as high as $79.74 and last traded at $80.2980. Approximately 447,649 shares were traded during trading, a decline of 59% from the average daily volume of 1,084,531 shares. The stock had previously closed at $73.22.

TMDX has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price target on TransMedics Group from $114.00 to $149.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Weiss Ratings restated a “hold (c)” rating on shares of TransMedics Group in a research note on Tuesday, June 9th. Piper Sandler decreased their price target on TransMedics Group from $160.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Oppenheimer downgraded TransMedics Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 6th. Finally, Canaccord Genuity Group decreased their price target on TransMedics Group from $152.00 to $124.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $134.50.

Insiders Place Their Bets

In related news, Director Thomas J. Gunderson sold 9,624 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $75.06, for a total value of $722,377.44. Following the sale, the director owned 16,642 shares in the company, valued at approximately $1,249,148.52. This represents a 36.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On TransMedics Group

A number of large investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its holdings in shares of TransMedics Group by 0.5% during the fourth quarter. D.A. Davidson & CO. now owns 15,334 shares of the company’s stock worth $1,865,000 after acquiring an additional 83 shares during the period. Parallel Advisors LLC boosted its holdings in shares of TransMedics Group by 42.1% during the fourth quarter. Parallel Advisors LLC now owns 280 shares of the company’s stock worth $34,000 after acquiring an additional 83 shares during the period. HighPoint Advisor Group LLC boosted its stake in TransMedics Group by 3.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,955 shares of the company’s stock valued at $359,000 after purchasing an additional 88 shares during the period. Crossmark Global Holdings Inc. boosted its stake in TransMedics Group by 4.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 2,275 shares of the company’s stock valued at $277,000 after purchasing an additional 88 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in TransMedics Group by 2.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,600 shares of the company’s stock valued at $482,000 after purchasing an additional 100 shares during the period. Institutional investors own 99.67% of the company’s stock.

TransMedics Group Price Performance

The company has a 50 day moving average of $84.57 and a 200-day moving average of $113.51. The firm has a market capitalization of $2.76 billion, a P/E ratio of 18.23 and a beta of 1.91. The company has a current ratio of 6.74, a quick ratio of 6.19 and a debt-to-equity ratio of 1.70.

TransMedics Group (NASDAQ:TMDX) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.32). The firm had revenue of $173.93 million during the quarter, compared to the consensus estimate of $174.44 million. TransMedics Group had a net margin of 27.04% and a return on equity of 22.38%. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. On average, sell-side analysts predict that TransMedics Group, Inc. will post 1.98 EPS for the current year.

About TransMedics Group

TransMedics Group, Inc is a medical device company headquartered in Andover, Massachusetts, that specializes in advanced organ preservation and transport systems for transplantation. The company’s flagship technology, the Organ Care System (OCS), maintains donor organs in a near-physiologic, warm, beating state during transportation, with the aim of extending preservation times and improving post‐transplant outcomes. TransMedics’ solutions address a critical need in transplantation by reducing ischemic injury and expanding the donor organ pool.

TransMedics currently markets two commercially available OCS platforms.