Piper Sandler Cuts TransMedics Group (NASDAQ:TMDX) Price Target to $120.00

TransMedics Group (NASDAQ:TMDX) had its target price reduced by Piper Sandler from $160.00 to $120.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also issued reports on TMDX. Wall Street Zen lowered TransMedics Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. TD Cowen reissued a “buy” rating on shares of TransMedics Group in a research note on Monday, March 16th. Needham & Company LLC lowered their price objective on TransMedics Group from $174.00 to $142.00 and set a “buy” rating on the stock in a research note on Wednesday. Stifel Nicolaus boosted their price objective on TransMedics Group from $115.00 to $130.00 and gave the stock a “hold” rating in a research note on Monday, March 9th. Finally, Oppenheimer lowered TransMedics Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $135.00.

TransMedics Group Stock Performance

Shares of NASDAQ:TMDX opened at $68.00 on Wednesday. The company has a debt-to-equity ratio of 1.70, a current ratio of 6.74 and a quick ratio of 6.59. The business’s 50 day moving average price is $114.04 and its 200-day moving average price is $125.34. The firm has a market capitalization of $2.35 billion, a PE ratio of 15.45 and a beta of 2.07. TransMedics Group has a 1 year low of $67.69 and a 1 year high of $156.00.

TransMedics Group (NASDAQ:TMDX) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.32). The firm had revenue of $173.93 million during the quarter, compared to analyst estimates of $174.44 million. TransMedics Group had a return on equity of 22.38% and a net margin of 27.04%.The business’s revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. As a group, equities research analysts expect that TransMedics Group will post 2.22 earnings per share for the current fiscal year.

Insider Activity at TransMedics Group

In other news, Director Stephanie Lovell sold 1,193 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $149.62, for a total value of $178,496.66. Following the transaction, the director owned 2,866 shares of the company’s stock, valued at $428,810.92. This represents a 29.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas Corcoran sold 2,966 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $139.12, for a total value of $412,629.92. Following the completion of the transaction, the insider directly owned 29,831 shares in the company, valued at approximately $4,150,088.72. This trade represents a 9.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,205 shares of company stock valued at $2,353,002 in the last three months. Company insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On TransMedics Group

Large investors have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of TransMedics Group by 981.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 227 shares of the company’s stock valued at $26,000 after purchasing an additional 206 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of TransMedics Group in the 3rd quarter valued at $29,000. Allworth Financial LP lifted its stake in shares of TransMedics Group by 74.3% in the 3rd quarter. Allworth Financial LP now owns 265 shares of the company’s stock valued at $30,000 after purchasing an additional 113 shares during the last quarter. Optiver Holding B.V. raised its holdings in shares of TransMedics Group by 248.1% in the 3rd quarter. Optiver Holding B.V. now owns 268 shares of the company’s stock valued at $30,000 after buying an additional 191 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of TransMedics Group by 42.1% in the 4th quarter. Parallel Advisors LLC now owns 280 shares of the company’s stock valued at $34,000 after buying an additional 83 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

TransMedics Group Company Profile

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.