Canaccord Genuity Group Boosts TransMedics Group (NASDAQ:TMDX) Price Target to $142.00

TransMedics Group (NASDAQ:TMDX) had its price target lifted by equities researchers at Canaccord Genuity Group from $129.00 to $142.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 25.31% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Oppenheimer increased their price target on shares of TransMedics Group from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, June 17th. Needham & Company LLC reiterated a “hold” rating on shares of TransMedics Group in a report on Tuesday, June 17th. Finally, Piper Sandler reiterated an “overweight” rating and set a $145.00 price target (up previously from $125.00) on shares of TransMedics Group in a report on Wednesday, June 4th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.88.

TransMedics Group Price Performance

Shares of TMDX opened at $113.32 on Tuesday. The stock has a market cap of $3.83 billion, a PE ratio of 83.32 and a beta of 2.06. 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 has a fifty-two week low of $55.00 and a fifty-two week high of $177.37. The firm’s 50-day simple moving average is $126.78 and its two-hundred day simple moving average is $91.56.

TransMedics Group (NASDAQ:TMDX) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.41. The business had revenue of $143.54 million for 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%. The business’s revenue was up 48.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 earnings per share. Analysts anticipate that TransMedics Group will post 1 earnings per share for the current fiscal year.

Insider Activity at TransMedics Group

In related news, insider Anil P. Ranganath sold 686 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $139.80, for a total transaction of $95,902.80. Following the transaction, the insider owned 13,955 shares in the company, valued at $1,950,909. This represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward M. Basile sold 6,000 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $115.63, for a total transaction of $693,780.00. Following the transaction, the director owned 732 shares in the company, valued at approximately $84,641.16. This trade represents a 89.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,418 shares of company stock worth $1,512,613 over the last quarter. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TMDX. Smartleaf Asset Management LLC increased its stake in shares of TransMedics Group by 44.3% in the first quarter. Smartleaf Asset Management LLC now owns 440 shares of the company’s stock worth $30,000 after purchasing an additional 135 shares in the last quarter. CWM LLC increased its stake in shares of TransMedics Group by 20.1% in the first quarter. CWM LLC now owns 925 shares of the company’s stock worth $62,000 after purchasing an additional 155 shares in the last quarter. Campbell Newman Asset Management Inc. increased its stake in shares of TransMedics Group by 1.4% in the first quarter. Campbell Newman Asset Management Inc. now owns 11,619 shares of the company’s stock worth $782,000 after purchasing an additional 166 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of TransMedics Group in the second quarter worth $26,000. Finally, Hager Investment Management Services LLC increased its stake in shares of TransMedics Group by 38.3% in the first quarter. Hager Investment Management Services LLC now owns 740 shares of the company’s stock worth $50,000 after purchasing an additional 205 shares in the last quarter. 99.67% of the stock is currently 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.