TransMedics price target lowered to $109 from $169 at Canaccord

Canaccord lowered the firm’s price target on TransMedics (TMDX) to $109 from $169 and keeps a Buy rating on the shares. The firm noted its results missed expectations as the revenue shortfall was pinned on underlying volume in the US transplant market being more seasonally soft than expected, with the company’s quarter-over-quarter volume declines reflecting those of the entire market.