TD Cowen analyst Josh Jennings has maintained their bullish stance on TMDX stock, giving a Buy rating on July 16.
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Josh Jennings has given his Buy rating due to a combination of factors that highlight TransMedics Group’s strong position in the market despite recent controversies. The company was initially affected by negative sentiment following a New York Times article and a Health and Human Services (HHS) announcement regarding protocol breaches in organ procurement by Organ Procurement Organizations (OPOs). However, Jennings notes that TransMedics is not directly implicated in these issues, as their surgical teams adhere to strict protocols and are not involved in declaring death or initiating organ procurement.
TransMedics’ proactive and compliant actions in a specific case, where they identified and reported lingering cardiac activity, demonstrate their commitment to ethical practices. Their collaboration with the Health Resources and Services Administration (HRSA) and the Organ Procurement and Transplantation Network (OPTN) further underscores their integrity. Jennings believes that the ongoing restructuring of the US transplant network could potentially benefit TransMedics, positioning them for future growth and justifying the Buy rating.
In another report released on July 16, Robert W. Baird also maintained a Buy rating on the stock with a $148.00 price target.