Needham & Company LLC Cuts TransMedics Group (NASDAQ:TMDX) Price Target to $142.00

TransMedics Group (NASDAQ:TMDX) had its target price cut by Needham & Company LLC from $174.00 to $142.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the company. Piper Sandler boosted their price objective on TransMedics Group from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Oppenheimer lowered TransMedics Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday. TD Cowen reaffirmed a “buy” rating on shares of TransMedics Group in a research note on Monday, March 16th. Stifel Nicolaus raised their price target 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, Wall Street Zen lowered TransMedics Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.

TransMedics Group Stock Performance

Shares of TMDX stock opened at $68.00 on Wednesday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 6.59 and a current ratio of 6.74. TransMedics Group has a fifty-two week low of $67.69 and a fifty-two week high of $156.00. The stock has a 50 day moving average price of $114.04 and a two-hundred day moving average price of $125.34. The company has a market capitalization of $2.35 billion, a P/E ratio of 15.45 and a beta of 2.07.

TransMedics Group (NASDAQ:TMDX) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.32). TransMedics Group had a net margin of 27.04% and a return on equity of 22.38%. The company had revenue of $173.93 million during the quarter, compared to the consensus estimate of $174.44 million. During the same quarter in the previous year, the firm posted $0.70 EPS. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. Analysts expect that TransMedics Group will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Anil P. Ranganath sold 864 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $139.12, for a total value of $120,199.68. Following the completion of the sale, the insider owned 13,091 shares of the company’s stock, valued at $1,821,219.92. This trade represents a 6.19% 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, Director Stephanie Lovell sold 1,193 shares of the firm’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 completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,205 shares of company stock valued at $2,353,002 over the last three months. Insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On TransMedics Group

Institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. raised its holdings in TransMedics Group by 981.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 227 shares of the company’s stock worth $26,000 after purchasing an additional 206 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in TransMedics Group in the third quarter worth $29,000. Optiver Holding B.V. raised its holdings in TransMedics Group by 248.1% in the third quarter. Optiver Holding B.V. now owns 268 shares of the company’s stock worth $30,000 after purchasing an additional 191 shares in the last quarter. North Star Investment Management Corp. bought a new position in TransMedics Group in the first quarter worth $30,000. Finally, Ascentis Independent Advisors bought a new position in TransMedics Group in the first quarter worth $30,000. Institutional investors 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.