Piper Sandler Has Lowered Expectations for TransMedics Group (NASDAQ:TMDX) Stock Price

TransMedics Group (NASDAQ:TMDX) had its target price decreased by Piper Sandler from $180.00 to $110.00 in a research report released on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

TMDX has been the subject of several other reports. TD Cowen lowered their price objective on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Robert W. Baird lowered their price target on TransMedics Group from $200.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Canaccord Genuity Group cut their price objective on TransMedics Group from $109.00 to $104.00 and set a “buy” rating on the stock in a report on Wednesday. Oppenheimer decreased their target price on TransMedics Group from $200.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Finally, Needham & Company LLC dropped their target price on TransMedics Group from $208.00 to $109.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.80.

TransMedics Group Trading Down 4.2 %

TransMedics Group stock opened at $76.04 on Wednesday. The company has a debt-to-equity ratio of 2.42, a quick ratio of 7.33 and a current ratio of 8.20. The stock has a market cap of $2.55 billion, a PE ratio of 80.89 and a beta of 2.08. The stock has a 50-day moving average of $119.18 and a two-hundred day moving average of $137.70. TransMedics Group has a one year low of $67.77 and a one year high of $177.37.

TransMedics Group (NASDAQ:TMDX) last posted its quarterly earnings data 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 company had revenue of $108.76 million for the quarter, compared to analyst estimates of $115.00 million. TransMedics Group had a net margin of 8.14% and a return on equity of 18.74%. The business’s revenue was up 63.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) EPS. On average, research analysts anticipate that TransMedics Group will post 1 EPS for the current fiscal year.

Insider Buying and Selling at TransMedics Group

In other news, insider Nicholas Corcoran sold 10,000 shares of TransMedics Group stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $176.02, for a total transaction of $1,760,200.00. Following the completion of the transaction, the insider now directly owns 21,105 shares of the company’s stock, valued at $3,714,902.10. The trade was a 32.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward M. Basile sold 6,750 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 732 shares of the company’s stock, valued at approximately $61,158.60. This represents a 90.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,958 shares of company stock valued at $5,230,528. 7.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On TransMedics Group

A number of institutional investors have recently modified their holdings of the business. Amalgamated Bank raised its holdings 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 purchasing an additional 70 shares during the period. Pitcairn Co. raised its stake in shares of TransMedics Group by 1.5% during the 1st quarter. Pitcairn Co. now owns 5,378 shares of the company’s stock worth $398,000 after buying an additional 78 shares during the period. Harbour Capital Advisors LLC lifted its position in shares of TransMedics Group by 1.7% during the 3rd quarter. Harbour Capital Advisors LLC now owns 4,841 shares of the company’s stock valued at $760,000 after buying an additional 81 shares in the last quarter. Signaturefd LLC grew its stake in TransMedics Group by 26.6% in the 2nd quarter. Signaturefd LLC now owns 443 shares of the company’s stock valued at $67,000 after acquiring an additional 93 shares during the period. Finally, Arizona State Retirement System increased its holdings in TransMedics Group by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 9,158 shares of the company’s stock worth $1,379,000 after acquiring an additional 186 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.