These Analysts Cut Their Forecasts On TransMedics Group Following Weak Results

TransMedics Group, Inc. TMDX posted downbeat quarterly results on Monday.

TransMedics reported quarterly earnings of 12 cents per share which missed the analyst consensus estimate of 30 cents per share. The company reported quarterly sales of $108.76 million which missed the analyst consensus estimate of $115.00 million.

"We are proud of our performance year to date and look forward to ending 2024 on a strong note," said Waleed Hassanein, president and CEO of TransMedics. "We continued to make meaningful progress across each of our growth initiatives through the third quarter and maintain our conviction in our growth runway for 2025 and beyond."

TransMedics said it continued to expect full-year revenue to be in the range of $425 million to $445 million versus estimates of $444.36 million.

TransMedics shares gained 0.9% to close at $126.24 on Monday.

These analysts made changes to their price targets on TransMedics following earnings announcement.

• Needham analyst Mike Matson maintained TransMedics with a Buy and lowered the price target from $208 to $109.
• Baird analyst Joe Vruwink maintained the stock with an Outperform and lowered the price target from $200 to $150.
• Canaccord Genuity analyst Jason Mills maintained TransMedics with a Buy and lowered the price target from $169 to $109.

Considering buying TMDX stock? Here’s what analysts think:

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