TransMedics Group, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Josh Jennings from TD Cowen maintained a Buy rating on the stock and has a $170.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Josh Jennings has given his Buy rating due to a combination of factors that position TransMedics Group to benefit significantly from recent changes in the U.S. transplant system. The Department of Health and Human Services (HHS) is implementing reforms aimed at improving oversight and transparency within the organ procurement and transplant network, which are expected to increase donor registrations and reduce organ wastage. These changes align well with TransMedics’ offerings, such as their Organ Care System (OCS) technology and the National OCS Program, which have already contributed to increased transplant volumes since 2022.
TransMedics’ comprehensive approach, which includes advanced preservation technology and integrated logistics, positions it as a leader in the field and a direct beneficiary of the HHS’s initiatives. As the donor pool expands and organ discards decrease, the company is poised for substantial growth. The alignment of TransMedics’ platform with the HHS’s goals to enhance organ availability and utilization underscores the potential for the company to capture significant market share, justifying the Buy rating from Jennings.
According to TipRanks, Jennings is a 3-star analyst with an average return of 0.9% and a 48.59% success rate. Jennings covers the Healthcare sector, focusing on stocks such as TransMedics Group, Boston Scientific, and Medtronic.
In another report released on September 16, Evercore ISI also initiated coverage with a Buy rating on the stock with a $155.00 price target.