Piper Sandler analyst Matt O’Brien lowered the firm’s price target on TransMedics (TMDX) to $140 from $145 and keeps an Overweight rating on the shares. The firm notes the company reported Q3 results that landed just shy of consensus on the top line but handily beat on the bottom-line. Despite the revenue performance, management raised the midpoint of its full-year sales guidance based on business momentum and the nice Q4 start seen in October. Piper thinks the FY25 sales and OM outlook is conservative and should deliver upside to end the year.
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