Canaccord Genuity Group Issues Positive Forecast for TransMedics Group (NASDAQ:TMDX) Stock Price

TransMedics Group (NASDAQ:TMDX) had its price target lifted by Canaccord Genuity Group from $129.00 to $142.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 25.31% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Oppenheimer raised their target price on shares of TransMedics Group from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, June 17th. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 target price (up from $125.00) on shares of TransMedics Group in a research note on Wednesday, June 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of TransMedics Group in a research note on Tuesday, June 17th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $129.88.

TransMedics Group Stock Performance

TMDX opened at $113.32 on Tuesday. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 83.32 and a beta of 2.06. The company has a fifty day moving average of $126.78 and a 200 day moving average of $91.56. TransMedics Group has a fifty-two week low of $55.00 and a fifty-two week high of $177.37. The company has a debt-to-equity ratio of 1.92, a quick ratio of 8.32 and a current ratio of 9.10.

TransMedics Group (NASDAQ:TMDX) last posted its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.41. The company had revenue of $143.54 million during the quarter, compared to analysts’ expectations of $123.39 million. TransMedics Group had a net margin of 10.03% and a return on equity of 21.88%. TransMedics Group’s quarterly revenue was up 48.2% on a year-over-year basis. During the same period last year, the company posted $0.35 earnings per share. As a group, sell-side analysts forecast that TransMedics Group will post 1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Anil P. Ranganath sold 686 shares of the firm’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $139.80, for a total value of $95,902.80. Following the completion of the sale, the insider owned 13,955 shares in the company, valued at approximately $1,950,909. This trade represents a 4.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward M. Basile sold 6,000 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $115.63, for a total transaction of $693,780.00. Following the completion of the sale, the director owned 732 shares of the company’s stock, valued at $84,641.16. This trade represents a 89.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,418 shares of company stock valued at $1,512,613 in the last three months. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On TransMedics Group

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of TransMedics Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 3,635,919 shares of the company’s stock worth $226,700,000 after acquiring an additional 40,860 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of TransMedics Group by 244.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,113,082 shares of the company’s stock valued at $209,448,000 after purchasing an additional 2,209,996 shares in the last quarter. FIL Ltd raised its holdings in shares of TransMedics Group by 28.0% in the 4th quarter. FIL Ltd now owns 1,000,358 shares of the company’s stock valued at $62,372,000 after purchasing an additional 218,961 shares in the last quarter. Braidwell LP bought a new stake in shares of TransMedics Group in the 4th quarter valued at about $57,493,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of TransMedics Group by 16.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 903,086 shares of the company’s stock valued at $56,307,000 after purchasing an additional 128,474 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

About TransMedics Group

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.