Shares of TransMedics Group (NASDAQ:TMDX) soared today after it reported earnings for its fourth quarter of Fiscal Year 2022. Adjusted earnings per share came in at -$0.21, which beat analysts’ consensus estimate of-$0.30 per share.
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Sales increased by 223.7% year-over-year, with revenue hitting $31.4 million. This was almost $8 million above expectations.
Looking forward, management now expects revenue for Fiscal Year 2023 to be in the range of $138 million to $145 million. For reference, analysts were expecting $134.66 million in revenue.
Overall, Wall Street analysts have a consensus price target of $66.67 on TMDX stock, implying over 10% downside potential, as indicated by the graphic above.
