TransMedics downgraded to Perform from Outperform at Oppenheimer

Oppenheimer downgraded TransMedics (TMDX) to Perform from Outperform without a price target post the Q1 report. The cites “pure exhaustion defending this name” for the downgrade. The clinical value proposition of the TransMedics Organ Care System has been “completely overshadowed by unfair competitive assessments, especially given no rigorous competitor clinical trials done,” the analyst tells investors in a research note. Oppenheimer is stepping to the sidelines pending a “clearer narrative.”