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TransMedics Group Inc (TMDX)


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Upturn Advisory Summary
10/15/2025: TMDX (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $141
1 Year Target Price $141
5 | Strong Buy |
1 | Buy |
3 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 33.15% | Avg. Invested days 37 | Today’s Advisory PASS |
Upturn Star Rating ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.01B USD | Price to earnings Ratio 59.11 | 1Y Target Price 141 |
Price to earnings Ratio 59.11 | 1Y Target Price 141 | ||
Volume (30-day avg) 9 | Beta 2.07 | 52 Weeks Range 55.00 - 145.50 | Updated Date 10/17/2025 |
52 Weeks Range 55.00 - 145.50 | Updated Date 10/17/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 1.99 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 13.49% | Operating Margin (TTM) 23.24% |
Management Effectiveness
Return on Assets (TTM) 5.8% | Return on Equity (TTM) 28.21% |
Valuation
Trailing PE 59.11 | Forward PE 52.36 | Enterprise Value 4075114620 | Price to Sales(TTM) 7.55 |
Enterprise Value 4075114620 | Price to Sales(TTM) 7.55 | ||
Enterprise Value to Revenue 7.67 | Enterprise Value to EBITDA 36.4 | Shares Outstanding 34090356 | Shares Floating 32955147 |
Shares Outstanding 34090356 | Shares Floating 32955147 | ||
Percent Insiders 2.96 | Percent Institutions 110.65 |
Upturn AI SWOT
TransMedics Group Inc

Company Overview
History and Background
TransMedics Group Inc. was founded in 1998 and is headquartered in Andover, Massachusetts. The company is focused on developing and delivering technologies for preserving and assessing organs for transplant. It pioneered the Organ Care System (OCS) technology.
Core Business Areas
- Organ Care System (OCS) Heart: A portable heart perfusion and monitoring system designed to keep a donor heart viable and in a near-physiologic state from the donor to the recipient.
- Organ Care System (OCS) Lung: A portable lung perfusion and ventilation system intended to maintain donor lungs in a near-physiologic state during preservation and transport.
- Organ Care System (OCS) Liver: A portable liver perfusion and monitoring system designed to keep a donor liver viable and in a near-physiologic state from the donor to the recipient.
Leadership and Structure
Waleed Hassanein, MD serves as President and Chief Executive Officer. The company has a board of directors overseeing strategic direction and governance.
Top Products and Market Share
Key Offerings
- OCS Heart: The OCS Heart system maintains donor hearts in a beating state, extending preservation time and enabling broader geographic reach for transplants. They have an estimated 35-40% market share in the US for heart preservation based on estimated transplants using OCS vs traditional methods. Competitors include traditional cold storage methods and Paragonix Technologies (PGNX).
- OCS Lung: The OCS Lung system provides continuous ventilation and perfusion, improving the assessment and preservation of donor lungs. It has an estimated 50-55% market share in the US for lung preservation based on estimated transplants using OCS vs traditional methods. Competitors include traditional cold storage methods.
- OCS Liver: The OCS Liver system maintains livers in a metabolically active state, allowing for better assessment of liver viability and function. The OCS Liver system has lower market share as it is the newest to market. Estimated 15-20% market share. Competitors include traditional cold storage methods and Organ Assist (not publicly traded).
Market Dynamics
Industry Overview
The organ transplant market is driven by the increasing need for organs and advancements in preservation technology. The industry faces challenges related to organ availability and logistics.
Positioning
TransMedics is positioned as a leader in organ preservation technology, offering a differentiated solution compared to traditional cold storage. Its competitive advantage lies in its proprietary OCS technology and its ability to improve organ viability and utilization.
Total Addressable Market (TAM)
The total addressable market for organ preservation is estimated to be in the billions of dollars. TransMedics is positioned to capture a significant portion of this market by expanding the use of its OCS technology and increasing organ transplant rates.
Upturn SWOT Analysis
Strengths
- Proprietary OCS technology
- Clinical evidence supporting improved organ viability
- Established market presence in heart and lung preservation
- Strong relationships with transplant centers
Weaknesses
- High cost of OCS systems
- Reliance on single product line
- Need for ongoing clinical validation
- Limited geographic presence
Opportunities
- Expansion into new organ types (e.g., kidney, pancreas)
- Geographic expansion into international markets
- Development of next-generation OCS technology
- Partnerships with organ procurement organizations
Threats
- Competition from alternative preservation methods
- Regulatory hurdles for new products
- Reimbursement challenges from healthcare payers
- Potential supply chain disruptions
Competitors and Market Share
Key Competitors
- PGNX
Competitive Landscape
TransMedics' OCS technology provides a competitive advantage over traditional cold storage, but Paragonix Technologies (PGNX) and other emerging technologies present ongoing competition.
Growth Trajectory and Initiatives
Historical Growth: TransMedics has experienced rapid revenue growth in recent years, driven by increasing adoption of its OCS technology.
Future Projections: Analysts project continued revenue growth for TransMedics as it expands its market share and introduces new products. See consensus analyst estimates.
Recent Initiatives: Recent initiatives include expanding the OCS Liver program and pursuing regulatory approvals in new geographies.
Summary
TransMedics Group Inc. is a growth-stage company leading in organ preservation technology with its OCS systems. Their clinical benefits justify high costs and ongoing sales are positive. While the company faces challenges from competition and reimbursement hurdles, their growth trajectory and innovation offer strong prospects. Management must scale the business and continue to develop new offerings to ensure the company maintains a leadership position in the organ transplant preservation niche. They have an attractive Total Addressable Market for a growing company.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company SEC filings (10-K, 10-Q)
- Analyst reports
- Company presentations
- Company website
Disclaimers:
This analysis is based on publicly available information and should not be considered financial advice. Market data estimates are approximate.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About TransMedics Group Inc
Exchange NASDAQ | Headquaters Andover, MA, United States | ||
IPO Launch date 2019-05-02 | Founder, President, CEO & Director Dr. Waleed H. Hassanein M.D. | ||
Sector Healthcare | Industry Medical Devices | Full time employees 728 | Website https://www.transmedics.com |
Full time employees 728 | Website https://www.transmedics.com |
TransMedics Group, Inc., a commercial-stage medical technology company, engages in transforming organ transplant therapy for end-stage organ failure patients in the United States and internationally. The company offers Organ Care System (OCS), a portable organ perfusion, optimization, and monitoring system that utilizes its proprietary and customized technology to replicate near-physiologic conditions for donor organs outside of the human body. Its OCS includes OCS LUNG for the preservation of standard criteria donor lungs for double-lung transplantation; OCS Heart, a technology for preservation of DBD donor hearts deemed unsuitable due to limitations of cold storage and for ex vivo reanimation, functional monitoring, and beating-heart preservation of donation-after-circulatory-death hearts; and OCS Liver for the preservation of DBD and DCD of donor livers. The company also developed national OCS program, a turnkey solution for outsourced organ retrieval; and provides OCS organ management and logistics services, including aviation and ground transportation, and other coordination activity. The company was founded in 1998 and is headquartered in Andover, Massachusetts.

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