Piper Sandler Lowers TransMedics Group (NASDAQ:TMDX) Price Target to $110.00

TransMedics Group (NASDAQ:TMDX) had its target price lowered by equities researchers at Piper Sandler from $180.00 to $110.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 41.99% from the stock’s current price.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Needham & Company LLC lowered their price objective on shares of TransMedics Group from $208.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Stephens increased their target price on shares of TransMedics Group from $151.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Oppenheimer reduced their price objective on shares of TransMedics Group from $200.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Finally, TD Cowen lowered their price objective on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $131.80.

TransMedics Group Stock Performance

Shares of NASDAQ:TMDX traded down $5.45 during midday trading on Wednesday, hitting $77.47. The company had a trading volume of 1,953,715 shares, compared to its average volume of 977,088. The company has a debt-to-equity ratio of 2.42, a current ratio of 8.20 and a quick ratio of 7.33. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 82.53 and a beta of 2.08. TransMedics Group has a 12-month low of $66.76 and a 12-month high of $177.37. The company has a fifty day moving average of $123.41 and a two-hundred day moving average of $138.93.

TransMedics Group (NASDAQ:TMDX) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.17). The business had revenue of $108.76 million during the quarter, compared to the consensus estimate of $115.00 million. TransMedics Group had a net margin of 8.14% and a return on equity of 18.74%. The firm’s revenue was up 63.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) EPS. On average, equities research analysts expect that TransMedics Group will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling at TransMedics Group

In related news, Director Edward M. Basile sold 6,750 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.55, for a total value of $563,962.50. Following the completion of the transaction, the director now directly owns 732 shares in the company, valued at approximately $61,158.60. The trade was a 90.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Corcoran sold 10,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $176.02, for a total value of $1,760,200.00. Following the completion of the sale, the insider now owns 21,105 shares in the company, valued at approximately $3,714,902.10. This trade represents a 32.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,958 shares of company stock worth $5,230,528 over the last 90 days. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in shares of TransMedics Group during the second quarter valued at about $47,000. USA Financial Formulas acquired a new position in shares of TransMedics Group in the third quarter worth approximately $55,000. Quarry LP lifted its stake in shares of TransMedics Group by 557.1% in the third quarter. Quarry LP now owns 368 shares of the company’s stock worth $58,000 after acquiring an additional 312 shares during the period. National Bank of Canada FI lifted its stake in shares of TransMedics Group by 174.7% in the third quarter. National Bank of Canada FI now owns 412 shares of the company’s stock worth $65,000 after acquiring an additional 262 shares during the period. Finally, J.Safra Asset Management Corp lifted its stake in shares of TransMedics Group by 649.2% in the second quarter. J.Safra Asset Management Corp now owns 442 shares of the company’s stock worth $67,000 after acquiring an additional 383 shares during the period. Institutional investors own 99.67% of the company’s stock.

TransMedics Group Company Profile

TransMedics Group, Inc, a commercial-stage medical technology company, engages in transforming organ transplant therapy for end-stage organ failure patients in the United States and internationally. The company offers Organ Care System (OCS), a portable organ perfusion, optimization, and monitoring system that utilizes its proprietary and customized technology to replicate near-physiologic conditions for donor organs outside of the human body.