TransMedics Group (NASDAQ:TMDX) Downgraded to “Market Perform” Rating by Oppenheimer

TransMedics Group (NASDAQ:TMDX) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, MarketBeat.com reports.

Several other equities research analysts have also recently issued reports on TMDX. Stifel Nicolaus lifted their target price on TransMedics Group from $115.00 to $130.00 and gave the stock a “hold” rating in a report on Monday, March 9th. Needham & Company LLC lifted their target price on TransMedics Group from $166.00 to $174.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Wall Street Zen cut TransMedics Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. JPMorgan Chase & Co. lifted their target price on TransMedics Group from $114.00 to $149.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Finally, Piper Sandler lifted their target price on TransMedics Group from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.78.

TransMedics Group Price Performance

Shares of TransMedics Group stock opened at $94.93 on Wednesday. The stock’s 50-day simple moving average is $116.57 and its 200-day simple moving average is $125.96. TransMedics Group has a 52 week low of $91.01 and a 52 week high of $156.00. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 19.37 and a beta of 2.07. The company has a quick ratio of 6.59, a current ratio of 7.14 and a debt-to-equity ratio of 1.06.

TransMedics Group (NASDAQ:TMDX) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.32). TransMedics Group had a net margin of 31.43% and a return on equity of 30.17%. The business had revenue of $173.93 million during the quarter, compared to analysts’ expectations of $174.48 million. During the same quarter in the previous year, the firm earned $0.70 earnings per share. TransMedics Group’s revenue was up 21.2% on a year-over-year basis. As a group, analysts expect that TransMedics Group will post 2.48 earnings per share for the current fiscal year.

Insider Activity at TransMedics Group

In other TransMedics Group news, Director Stephanie Lovell sold 1,193 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $149.62, for a total transaction of $178,496.66. Following the sale, the director directly owned 2,866 shares of the company’s stock, valued at $428,810.92. The trade was a 29.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas Corcoran sold 2,966 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $139.12, for a total value of $412,629.92. Following the sale, the insider directly owned 29,831 shares in the company, valued at $4,150,088.72. The trade was a 9.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,205 shares of company stock valued at $2,353,002 over the last ninety days. 6.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TransMedics Group

Large investors have recently added to or reduced their stakes in the stock. Kensington Investment Counsel LLC bought a new stake in TransMedics Group during the third quarter worth approximately $1,926,000. Nordea Investment Management AB purchased a new position in shares of TransMedics Group during the third quarter valued at approximately $4,070,000. Peregrine Capital Management LLC boosted its position in shares of TransMedics Group by 16.5% during the third quarter. Peregrine Capital Management LLC now owns 68,406 shares of the company’s stock valued at $7,675,000 after buying an additional 9,676 shares during the period. Fieldview Capital Management LLC purchased a new position in shares of TransMedics Group during the third quarter valued at approximately $1,716,000. Finally, Citigroup Inc. boosted its position in shares of TransMedics Group by 29.3% during the third quarter. Citigroup Inc. now owns 76,785 shares of the company’s stock valued at $8,615,000 after buying an additional 17,414 shares during the period. 99.67% of the stock is owned by institutional investors.

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.