TransMedics Group (NASDAQ:TMDX) Shares Up 7.4% - Here's Why

TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report) shares traded up 7.4% during trading on Wednesday . The company traded as high as $73.59 and last traded at $73.30. 870,970 shares were traded during trading, a decline of 34% from the average session volume of 1,319,089 shares. The stock had previously closed at $68.27.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $104.00 price target on shares of TransMedics Group in a report on Tuesday, March 11th. Robert W. Baird decreased their target price on TransMedics Group from $150.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 11th. Oppenheimer reiterated an "outperform" rating and set a $125.00 price target on shares of TransMedics Group in a research report on Tuesday, December 3rd. Piper Sandler decreased their price objective on shares of TransMedics Group from $110.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $75.00 target price (down from $116.00) on shares of TransMedics Group in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, TransMedics Group currently has an average rating of "Moderate Buy" and a consensus target price of $122.70.

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TransMedics Group Price Performance

The stock has a market cap of $2.46 billion, a PE ratio of 77.78 and a beta of 2.12. The business's 50-day simple moving average is $69.54 and its 200-day simple moving average is $86.52. The company has a quick ratio of 7.33, a current ratio of 8.20 and a debt-to-equity ratio of 2.42.

Institutional Trading of TransMedics Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TMDX. Braidwell LP bought a new position in TransMedics Group in the 4th quarter worth $57,493,000. Norges Bank purchased a new position in shares of TransMedics Group during the fourth quarter valued at about $22,861,000. Mackenzie Financial Corp raised its stake in TransMedics Group by 73.0% in the fourth quarter. Mackenzie Financial Corp now owns 828,147 shares of the company's stock worth $51,635,000 after buying an additional 349,403 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in TransMedics Group by 1,565.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 269,825 shares of the company's stock worth $16,820,000 after buying an additional 253,624 shares during the period. Finally, Emerald Advisers LLC boosted its position in TransMedics Group by 146.3% during the 4th quarter. Emerald Advisers LLC now owns 371,711 shares of the company's stock valued at $23,176,000 after acquiring an additional 220,804 shares in the last quarter. Hedge funds and other institutional investors 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.

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