Josh Jennings, an analyst from TD Cowen, maintained the Buy rating on TransMedics Group (TMDX – Research Report). The associated price target is $100.00.
Josh Jennings has given his Buy rating due to a combination of factors related to TransMedics Group’s potential in the market for organ transplants. His analysis indicates that while the company’s quarterly revenues are not yet fully aligned with market trends, the overall growth in organ transplant volumes in the U.S. is critical for investors to monitor. The early stages of the company’s Organ Care System (OCS) and National OCS Program (NOP) launches are particularly noteworthy, suggesting that there is ample room for expansion and increased revenue as these programs gain traction.
The data Jennings references illustrate a positive trajectory in transplant volumes for January 2024, especially in the liver segment, which has seen double-digit growth despite a slight contraction in heart and lung transplant volumes. This overall 6% increase in transplant volumes for the three organs, albeit a slight slowdown from the previous year’s growth, supports the optimism for the company’s future performance. Jennings’ Buy rating implies confidence that TransMedics Group is well-positioned to benefit from the growing transplant market and that its current position is just the beginning of a potentially rewarding journey for investors.
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TransMedics Group (TMDX) Company Description:
TransMedics Group, Inc. is a commercial stage medical technology company, which engages in the development and commercialization of organ care system platform. It focuses on the preservation of human organs for transplant in a near-physiologic condition to address the limitations of cold storage organ preservation. The company was founded by Waleed H. Hassanein in October 2018 and is headquartered in Andover, MA.
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