Needham analyst Mike Matson lowered the firm’s price target on TransMedics (TMDX) to $109 from $208 but keeps a Buy rating on the shares. The company’s Q3 results missed expectations, and while the management maintained its FY24 guidance, it implies a wide range of growth for Q4, the analyst tells investors in a research note. TransMedics insisted however that the company did not lose market share in Q3, and while the overall transplant volumes for all three organ categories declined sequentially, the firm continues to see the company as a “market leader in a still very underpenetrated market”, Needham added.
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Read More on TMDX:
- TransMedics price target lowered to $125 from $200 at Oppenheimer
- TransMedics price target lowered to $109 from $169 at Canaccord
- TransMedics price target lowered to $150 from $200 at Baird
- TransMedics reports Q3 EPS 12c, consensus 29c
- TransMedics backs FY24 revenue view $425M-$445M, consensus $444.36M
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