TransMedics Group (NASDAQ:TMDX) Rating Lowered to Strong Sell at Zacks Research

TransMedics Group (NASDAQ:TMDX) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also weighed in on TMDX. UBS Group reissued a “hold” rating on shares of TransMedics Group in a research note on Tuesday, May 26th. TD Cowen reaffirmed a “buy” rating and issued a $120.00 price target on shares of TransMedics Group in a research note on Wednesday, July 1st. Piper Sandler lowered their price objective on TransMedics Group from $160.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Stifel Nicolaus increased their price objective on TransMedics Group from $75.00 to $80.00 and gave the company a “hold” rating in a research note on Thursday, June 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of TransMedics Group in a report on Tuesday, June 9th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $134.50.

TransMedics Group Price Performance

TMDX stock opened at $71.11 on Monday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 6.19 and a current ratio of 6.74. TransMedics Group has a 52 week low of $60.10 and a 52 week high of $156.00. The firm’s fifty day moving average is $73.40 and its 200 day moving average is $107.39. The firm has a market cap of $2.46 billion, a P/E ratio of 16.16 and a beta of 1.89.

TransMedics Group (NASDAQ:TMDX) last issued its earnings results on Tuesday, May 5th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.32). TransMedics Group had a return on equity of 22.38% and a net margin of 27.04%.The business had revenue of $173.93 million during the quarter, compared to analysts’ expectations of $174.44 million. During the same quarter in the previous year, the business earned $0.70 EPS. TransMedics Group’s revenue for the quarter was up 21.2% compared to the same quarter last year. Research analysts predict that TransMedics Group will post 1.92 earnings per share for the current year.

Insider Activity

In related news, Director Thomas J. Gunderson sold 9,624 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $75.06, for a total transaction of $722,377.44. Following the completion of the transaction, the director owned 16,642 shares in the company, valued at $1,249,148.52. This represents a 36.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its position in shares of TransMedics Group by 47.9% during the first quarter. Royal Bank of Canada now owns 26,582 shares of the company’s stock valued at $1,788,000 after buying an additional 8,604 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in TransMedics Group by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,525 shares of the company’s stock valued at $1,314,000 after acquiring an additional 868 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of TransMedics Group by 20.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 507,510 shares of the company’s stock worth $34,145,000 after acquiring an additional 86,721 shares during the period. Russell Investments Group Ltd. raised its position in shares of TransMedics Group by 13.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,901 shares of the company’s stock worth $1,059,000 after acquiring an additional 938 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in shares of TransMedics Group in the 2nd quarter valued at approximately $209,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

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.