TD Cowen Cuts TransMedics Group (NASDAQ:TMDX) Price Target to $120.00

TransMedics Group (NASDAQ:TMDX) had its target price decreased by TD Cowen from $190.00 to $120.00 in a report published on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

TMDX has been the topic of a number of other research reports. Oppenheimer downgraded TransMedics Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Piper Sandler dropped their price objective on TransMedics Group from $160.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday. Needham & Company LLC dropped their price objective on TransMedics Group from $174.00 to $142.00 and set a “buy” rating on the stock in a research report on Wednesday. Wall Street Zen downgraded TransMedics Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Stifel Nicolaus dropped their price objective on TransMedics Group from $130.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.00.

TransMedics Group Stock Performance

Shares of TransMedics Group stock opened at $68.00 on Wednesday. The firm has a market cap of $2.35 billion, a P/E ratio of 15.45 and a beta of 2.07. The company has a current ratio of 6.74, a quick ratio of 6.59 and a debt-to-equity ratio of 1.70. TransMedics Group has a 12 month low of $67.69 and a 12 month high of $156.00. The stock’s fifty day moving average price is $114.04 and its 200-day moving average price is $125.34.

TransMedics Group (NASDAQ:TMDX) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.32). The firm had revenue of $173.93 million for the quarter, compared to analysts’ expectations of $174.44 million. TransMedics Group had a net margin of 27.04% and a return on equity of 22.38%. The business’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 EPS. On average, 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 TransMedics Group news, CFO Gerardo Hernandez sold 7,236 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $147.21, for a total value of $1,065,211.56. Following the completion of the sale, the chief financial officer owned 14,689 shares of the company’s stock, valued at approximately $2,162,367.69. This trade represents a 33.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephanie Lovell sold 1,193 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $149.62, for a total value of $178,496.66. Following the completion of the sale, the director directly owned 2,866 shares of the company’s stock, valued at approximately $428,810.92. This represents a 29.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,205 shares of company stock valued at $2,353,002 over the last 90 days. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On TransMedics Group

Several institutional investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its holdings in TransMedics Group by 0.5% in 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 in the last quarter. Parallel Advisors LLC boosted its holdings in TransMedics Group by 42.1% in the fourth quarter. Parallel Advisors LLC now owns 280 shares of the company’s stock worth $34,000 after acquiring an additional 83 shares in the last quarter. HighPoint Advisor Group LLC boosted its holdings in TransMedics Group by 3.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,955 shares of the company’s stock worth $359,000 after acquiring an additional 88 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in TransMedics Group by 4.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 2,275 shares of the company’s stock worth $277,000 after acquiring an additional 88 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in TransMedics Group by 2.9% in the second quarter. Canada Pension Plan Investment Board now owns 3,600 shares of the company’s stock worth $482,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

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.