William Plovanic, an analyst from Canaccord Genuity, maintained the Buy rating on TransMedics Group (TMDX – Research Report). The associated price target remains the same with $104.00.
William Plovanic has given his Buy rating due to a combination of factors including TransMedics Group’s strong financial performance and promising future outlook. The company reported a significant increase in Q4/24 revenue, surpassing both the firm’s and market expectations. This growth was primarily driven by the robust performance of their OCS Liver product and service revenue, with aviation playing a substantial role in their procedures.
Furthermore, the company has provided optimistic guidance for 2025, projecting a revenue growth of 20%-25% year-over-year. This projection is based on a larger revenue base and includes expected contributions from new heart and lung programs set to begin in the second half of 2025. Despite some market concerns, the reaffirmation of conservative guidance and the anticipated revenue from clinical trial activities strengthen the stock’s setup, justifying the Buy rating and the price target of $104.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $90.00 price target.