TransMedics Signs Long-Term Lease for New Headquarters and Acquires Land

Written by Emily J. Thompson, Senior Investment Analyst

Updated: Jan 12 2026

0mins

TransMedics Group announced the signing of a long-term lease for its new global headquarters at Assembly Innovation Park in Somerville, as well as the acquisition of the adjacent land parcel to create an integrated TransMedics campus environment. This strategic expansion reflects the company's commitment to accelerating the next wave of transplant innovations, growth, and the transformation of global organ transplant therapy. The new headquarters will support TransMedics' operational expansion, bringing together corporate, research, development, and advanced manufacturing capabilities in a purpose-built, state-of-the-art facility. TransMedics plans to relocate on or before January 2028. The move is expected to significantly enhance the company's ability to attract and retain top talent to fuel scaling the organization globally.

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TMDX

$138.97+Infinity%1D

Analyst Views on TMDX

Wall Street analysts forecast TMDX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TMDX is 147.80 USD with a low forecast of 115.00 USD and a high forecast of 170.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

11 Analyst Rating

9 Buy

2 Hold

0 Sell

Strong Buy

Current: 140.990

Low

115.00

Averages

147.80

High

170.00

Current: 140.990

Low

115.00

Averages

147.80

High

170.00

TD Cowen

Buy

maintain

$170

2026-01-21

Reason

TD Cowen

Price Target

$170

AI Analysis

2026-01-21

maintain

Buy

Reason

TD Cowen says TransMedics shares are under pressure after Bridge to Life's VitaSmart received FDA clearance for liver transplantation. While VitaSmart is "technically competition" to TransMedics' OCS Liver, the system employs a back-to-base model using static cold storage, followed by hyperoxygenated perfusion in a bowl, the analyst tells investors in a research note. As a result, TD does not view VitaSmart as a threat to OCS Liver. Bridge to Life's system is "vastly different" from TransMedics' as it is not portable and does not allow surgeons to utilize biomarkers to assess organ function in the way that OCS Liver does, the firm contends. It continues to think TransMedics will maintain its dominance as new machine perfusion options come to market for liver. The firm views the selloff in shares today as unwarranted and reiterates a Buy rating on TransMedics with a $170 price target. The stock in afternoon trading is down 5% to $134.39.

Piper Sandler

Matt O'Brien

Overweight

maintain

$140

2026-01-02

Reason

Piper Sandler

Matt O'Brien

Price Target

$140

2026-01-02

maintain

Overweight

Reason

Piper Sandler analyst Matt O'Brien notes that every month, the firm tracks organ transplant volumes and the number of flights taken by TransMedics' medical jet fleet. Transplant volumes grew low single-digit in Q4 2025 versus Q3 2025. Liver, which the company is closely tied to, showed a strong 4.2% increase quarter-to-date. Piper keeps in mind that the Street is still expecting nearly 10% sequential growth in product sales in Q4 2025, which appears achievable to it based on machine perfusion share gains though room for upside seems limited. While the firm's model implies that service revenues may fall just short of expectations, it is within a reasonable margin of error for potential modest upside. Thus overall, Piper believes the Street's service revenue target is achievable, with modest downside risk and upside potential. The firm has an Overweight rating on the shares with a price target of $140.

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About TMDX

TransMedics Group, Inc. is a medical technology company that is transforming organ transplant therapy for patients with end-stage lung, heart and liver failure. The Company specializes in portable extracorporeal warm perfusion and assessment of donor organs for transplantation. Its Organ Care System (OCS) is a portable organ perfusion, optimization and monitoring system that utilizes its customized technology to replicate near-physiologic conditions for donor organs outside the human body. It also developed its National OCS Program (NOP), which is a turnkey solution to provide outsourced organ procurement, OCS perfusion management and transplant logistics services, to provide transplant programs in the United States. Its logistics services include aviation transportation and other coordination activities. Its NOP provides trained organ procurement surgeons, clinical specialists and transplant coordinators that provide an end-to-end clinical solution using its OCS technology.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.