Oppenheimer Raises TransMedics Group (NASDAQ:TMDX) Price Target to $45.00

TransMedics Group (NASDAQ:TMDXGet Rating) had its target price increased by Oppenheimer from $40.00 to $45.00 in a research note released on Tuesday, Benzinga reports. They currently have an outperform rating on the stock. Oppenheimer also issued estimates for TransMedics Group’s Q3 2022 earnings at ($0.35) EPS, Q4 2022 earnings at ($0.35) EPS, FY2022 earnings at ($1.49) EPS, Q1 2023 earnings at ($0.27) EPS, Q2 2023 earnings at ($0.28) EPS, Q3 2023 earnings at ($0.26) EPS, Q4 2023 earnings at ($0.27) EPS and FY2023 earnings at ($1.08) EPS.

Several other equities analysts have also weighed in on the company. Canaccord Genuity Group lifted their price target on TransMedics Group from $46.00 to $58.00 in a research note on Thursday. Cowen boosted their price objective on TransMedics Group from $39.00 to $45.00 and gave the stock an outperform rating in a research note on Tuesday, July 26th. Morgan Stanley boosted their price objective on TransMedics Group from $34.00 to $37.00 and gave the stock an equal weight rating in a research note on Wednesday. Cowen boosted their price objective on TransMedics Group from $45.00 to $50.00 in a research note on Tuesday. Finally, JPMorgan Chase & Co. upgraded TransMedics Group from a neutral rating to an overweight rating and boosted their price objective for the stock from $26.00 to $48.00 in a research note on Tuesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, TransMedics Group has an average rating of Moderate Buy and an average target price of $46.00.

TransMedics Group Price Performance

Shares of TransMedics Group stock opened at $41.21 on Tuesday. The company has a quick ratio of 4.40, a current ratio of 5.22 and a debt-to-equity ratio of 0.59. TransMedics Group has a twelve month low of $10.00 and a twelve month high of $42.00. The business has a 50-day moving average price of $31.99 and a 200 day moving average price of $24.90. The firm has a market cap of $1.15 billion, a PE ratio of -23.96 and a beta of 1.63.

TransMedics Group (NASDAQ:TMDXGet Rating) last announced its quarterly earnings results on Monday, August 1st. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.09). TransMedics Group had a negative net margin of 92.76% and a negative return on equity of 69.38%. During the same period in the previous year, the business posted ($0.39) earnings per share. Sell-side analysts predict that TransMedics Group will post -1.42 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Tamer I. Khayal sold 13,504 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $35.06, for a total value of $473,450.24. Following the completion of the sale, the insider now directly owns 46,076 shares in the company, valued at $1,615,424.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Stephen Gordon sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $35.00, for a total value of $350,000.00. Following the transaction, the chief financial officer now directly owns 5,714 shares in the company, valued at $199,990. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tamer I. Khayal sold 13,504 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $35.06, for a total value of $473,450.24. Following the completion of the transaction, the insider now owns 46,076 shares in the company, valued at $1,615,424.56. The disclosure for this sale can be found here. Insiders sold 151,814 shares of company stock worth $5,633,336 over the last ninety days. Corporate insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Royce & Associates LP lifted its holdings in TransMedics Group by 63.2% in the second quarter. Royce & Associates LP now owns 142,000 shares of the company’s stock valued at $4,466,000 after acquiring an additional 55,000 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in TransMedics Group by 3.0% in the second quarter. Nisa Investment Advisors LLC now owns 15,550 shares of the company’s stock valued at $489,000 after acquiring an additional 450 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in TransMedics Group in the second quarter valued at approximately $3,327,000. Advisory Services Network LLC acquired a new position in TransMedics Group in the second quarter valued at approximately $219,000. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in TransMedics Group by 27.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 347,349 shares of the company’s stock worth $10,924,000 after purchasing an additional 74,944 shares in the last quarter. 71.75% of the stock is currently owned by institutional investors and hedge funds.

TransMedics Group Company Profile

(Get Rating)

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.

Further Reading

Analyst Recommendations for TransMedics Group (NASDAQ:TMDX)

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