TransMedics Stock Surges 19% After Record Quarter as Organ Transplant Firm Beats Estimates and Lifts Outlook

Shares of TransMedics Group Inc. surged 19% on Friday after the organ transplant technology company reported record third-quarter revenue that beat Wall Street forecasts and raised its full-year outlook.

TransMedics shares rose $13.29, or 19.27%, to $82.28 in Friday trading, valuing the company at about $2.8 billion.

The rally followed a difficult stretch. The stock had fallen 44% year-to-date before the report.

Record results

Third-quarter revenue rose 41% to $203 million, beating the $177.58 million consensus, while adjusted earnings of 51 cents a share topped the 29-cent estimate.

The company called it a milestone quarter. "The third quarter of 2026 was the strongest in TransMedics' history, with record revenue and record case volume," the company said.

U.S. liver and heart procedures were the primary growth engines, with transplant logistics revenue climbing about 50% year over year.

Outlook raised

TransMedics raised its 2026 revenue guidance to $764 million to $774 million, including PAD Aviation, and plans European expansion. It was awarded its first European transplant logistics tender in Italy in October.

Analysts react

Canaccord Genuity raised its price target to $120 from $95 while maintaining a Buy rating.

The results appeared to trigger significant short-covering and fresh buying, though shares remain well below the 52-week high of $156.

The company ended the quarter with about $493 million in cash.