Piper Sandler Issues Pessimistic Forecast for TransMedics Group (NASDAQ:TMDX) Stock Price

TransMedics Group (NASDAQ:TMDX) had its price objective dropped by equities researchers at Piper Sandler from $180.00 to $110.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 38.64% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. TD Cowen decreased 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. JPMorgan Chase & Co. reduced their price objective on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Oppenheimer dropped their target price on shares of TransMedics Group from $200.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Canaccord Genuity Group reduced their price target on shares of TransMedics Group from $109.00 to $104.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Baird R W raised TransMedics Group to a “strong-buy” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $131.80.

TransMedics Group Price Performance

TMDX stock opened at $79.34 on Wednesday. The firm has a market capitalization of $2.66 billion, a P/E ratio of 82.13 and a beta of 2.08. TransMedics Group has a 12 month low of $67.77 and a 12 month high of $177.37. The firm has a 50 day moving average of $122.08 and a 200-day moving average of $138.50. The company has a current ratio of 8.20, a quick ratio of 7.33 and a debt-to-equity ratio of 2.42.

TransMedics Group (NASDAQ:TMDX) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.12 earnings per share (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 analysts’ expectations of $115.00 million. TransMedics Group had a net margin of 8.14% and a return on equity of 18.74%. TransMedics Group’s revenue for the quarter was up 63.7% on a year-over-year basis. During the same period last year, the company posted ($0.12) EPS. As a group, sell-side analysts predict that TransMedics Group will post 1 earnings per share for the current fiscal year.

Insider Buying and Selling at TransMedics Group

In other TransMedics Group news, CEO Waleed H. Hassanein sold 8,625 shares of TransMedics Group stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $153.42, for a total value of $1,323,247.50. Following the completion of the transaction, the chief executive officer now directly owns 61,643 shares of the company’s stock, valued at approximately $9,457,269.06. The trade was a 12.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward M. Basile sold 6,750 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $83.55, for a total transaction of $563,962.50. Following the sale, the director now owns 732 shares in the company, valued at approximately $61,158.60. The trade was a 90.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,958 shares of company stock worth $5,230,528. 7.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TMDX. Amalgamated Bank raised its position in TransMedics Group by 6.7% in the 2nd quarter. Amalgamated Bank now owns 1,114 shares of the company’s stock worth $168,000 after buying an additional 70 shares during the last quarter. Pitcairn Co. lifted its position in TransMedics Group by 1.5% during the first quarter. Pitcairn Co. now owns 5,378 shares of the company’s stock valued at $398,000 after purchasing an additional 78 shares during the period. Harbour Capital Advisors LLC boosted its holdings in TransMedics Group by 1.7% in the third quarter. Harbour Capital Advisors LLC now owns 4,841 shares of the company’s stock worth $760,000 after purchasing an additional 81 shares during the last quarter. Signaturefd LLC grew its position in TransMedics Group by 26.6% in the 2nd quarter. Signaturefd LLC now owns 443 shares of the company’s stock worth $67,000 after purchasing an additional 93 shares during the period. Finally, Arizona State Retirement System raised its stake in TransMedics Group by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 9,158 shares of the company’s stock valued at $1,379,000 after buying an additional 186 shares during the last quarter. 99.67% of the stock is owned by institutional investors.

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.