In a report released yesterday, Josh Jennings from TD Cowen maintained a Buy rating on TransMedics Group, with a price target of $170.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Josh Jennings has given his Buy rating due to a combination of factors including the positive trends observed in the U.S. transplant market and the performance of TransMedics Aviation. The company has progressed beyond the initial stages of its Organ Care System and National OCS Program, making its revenue increasingly dependent on the trends in the U.S. transplant market and the operations of TransMedics Aviation.
The report highlights notable growth in transplant volumes, with liver and lung transplants showing significant increases and heart transplants maintaining a stable trend. Specifically, liver transplants grew by 8%, lung transplants by 9%, and heart transplants showed low single-digit growth, resulting in an overall 7% increase in combined transplant volumes. This growth represents an acceleration from the previous year’s 3% increase, suggesting a favorable market environment for TransMedics Group.
In another report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $140.00 price target.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is neutral on the stock.