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

TransMedics Group (NASDAQ:TMDX) had its target price trimmed by Robert W. Baird from $150.00 to $120.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts have also recently commented on TMDX. JPMorgan Chase & Co. dropped their target price on TransMedics Group from $173.00 to $116.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Baird R W raised shares of TransMedics Group to a “strong-buy” rating in a research note on Tuesday, September 24th. Canaccord Genuity Group decreased their price target on shares of TransMedics Group from $109.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday, November 20th. TD Cowen decreased their price target on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Finally, Piper Sandler decreased their price target on shares of TransMedics Group from $110.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.80.

TransMedics Group Price Performance

Shares of TMDX opened at $64.26 on Wednesday. The business’s 50-day moving average is $97.26 and its two-hundred day moving average is $131.98. The company has a market capitalization of $2.16 billion, a P/E ratio of 68.36 and a beta of 2.06. The company has a debt-to-equity ratio of 2.42, a quick ratio of 7.33 and a current ratio of 8.20. TransMedics Group has a fifty-two week low of $63.42 and a fifty-two week 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 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 return on equity of 18.74% and a net margin of 8.14%. TransMedics Group’s revenue for the quarter was up 63.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.12) earnings per share. Research analysts predict that TransMedics Group will post 1 earnings per share for the current year.

Insiders Place Their Bets

In other TransMedics Group news, insider Tamer I. Khayal sold 1,084 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.40, for a total value of $93,657.60. Following the completion of the transaction, the insider now owns 20,843 shares in the company, valued at $1,800,835.20. The trade was a 4.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Waleed H. Hassanein sold 8,625 shares of the business’s stock in a transaction on Monday, September 16th. The stock was 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 approximately $9,457,269.06. The trade was a 12.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,042 shares of company stock worth $3,563,985 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On TransMedics Group

A number of institutional investors and hedge funds have recently modified their holdings of TMDX. Vaughan Nelson Investment Management L.P. purchased a new stake in TransMedics Group in the second quarter valued at $39,862,000. Driehaus Capital Management LLC lifted its position in TransMedics Group by 15.8% in the second quarter. Driehaus Capital Management LLC now owns 1,486,073 shares of the company’s stock valued at $223,832,000 after acquiring an additional 202,867 shares during the last quarter. Principal Financial Group Inc. lifted its position in TransMedics Group by 260.1% in the third quarter. Principal Financial Group Inc. now owns 202,287 shares of the company’s stock valued at $31,759,000 after acquiring an additional 146,115 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in TransMedics Group in the second quarter valued at $18,854,000. Finally, Canada Pension Plan Investment Board purchased a new stake in TransMedics Group in the second quarter valued at $16,086,000. Institutional investors and hedge funds 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.