TransMedics Group (TMDX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Josh Jennings from TD Cowen maintained a Buy rating on the stock and has a $170.00 price target.
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Josh Jennings has given his Buy rating due to a combination of factors that highlight TransMedics Group’s positive market position and growth potential. The company has moved past the initial stages of launching its Organ Care System and National OCS Program, and its revenue is now closely tied to trends in the U.S. transplant market and the operations of TransMedics Aviation.
The report indicates that there has been solid growth in liver and lung transplant volumes, despite a slight decline in heart transplants, leading to an overall increase in transplant activities. Additionally, TransMedics’ logistics business is showing promising signs with a notable increase in flight volumes, suggesting a strong uptake of their services. These factors collectively suggest a favorable outlook for TransMedics, justifying the Buy rating.
In another report released on June 23, Piper Sandler also reiterated a Buy rating on the stock with a $145.00 price target.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TMDX in relation to earlier this year.