Robert W. Baird Has Lowered Expectations for TransMedics Group (NASDAQ:TMDX) Stock Price

TransMedics Group (NASDAQ:TMDX) had its target price reduced by analysts at Robert W. Baird from $150.00 to $120.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 82.62% from the stock’s previous close.

A number of other equities analysts have also weighed in on TMDX. Canaccord Genuity Group cut their target price on shares of TransMedics Group from $109.00 to $104.00 and set a “buy” rating for the company in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their target price on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Piper Sandler dropped their price objective on TransMedics Group from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Baird R W raised TransMedics Group to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of TransMedics Group in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, TransMedics Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.80.

TransMedics Group Stock Performance

TMDX stock opened at $65.71 on Wednesday. The firm has a market cap of $2.21 billion, a PE ratio of 69.90 and a beta of 2.06. The stock has a 50-day moving average price of $98.83 and a 200-day moving average price of $132.44. 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 has a 1-year low of $65.26 and a 1-year high of $177.37.

TransMedics Group (NASDAQ:TMDX) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.17). The firm had revenue of $108.76 million during the quarter, compared to the consensus estimate of $115.00 million. TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The firm’s revenue was up 63.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.12) EPS. As a group, equities research analysts expect that TransMedics Group will post 1 earnings per share for the current year.

Insider Activity at TransMedics Group

In other TransMedics Group news, CEO Waleed H. Hassanein sold 8,625 shares of TransMedics Group stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $153.42, for a total transaction of $1,323,247.50. Following the transaction, the chief executive officer now owns 61,643 shares of the company’s stock, valued at $9,457,269.06. The trade was a 12.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tamer I. Khayal sold 2,958 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $148.24, for a total transaction of $438,493.92. Following the completion of the sale, the insider now directly owns 20,843 shares of the company’s stock, valued at approximately $3,089,766.32. This trade represents a 12.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,042 shares of company stock worth $3,563,985. 7.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new stake in TransMedics Group in the 3rd quarter worth approximately $149,000. Sanctuary Advisors LLC increased its stake in TransMedics Group by 63.4% during the third quarter. Sanctuary Advisors LLC now owns 4,041 shares of the company’s stock worth $634,000 after acquiring an additional 1,568 shares during the last quarter. Morse Asset Management Inc purchased a new stake in TransMedics Group during the third quarter valued at approximately $823,000. Virtu Financial LLC bought a new stake in shares of TransMedics Group in the 3rd quarter valued at approximately $436,000. Finally, Neo Ivy Capital Management purchased a new position in shares of TransMedics Group in the 3rd quarter worth approximately $554,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

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.