Why Is TransMedics (TMDX) Up 10.2% Since Last Earnings Report?

TransMedics (TMDX) reported Q2 2026 earnings that missed estimates by 12%, with EPS down 52.2% year-over-year to $0.44. However, revenues grew 20.7% to $189.9 million, driven by strong service revenue growth of 28.6%. The company raised its 2026 revenue guidance but lowered adjusted operating margin expectations due to accelerated OCS Kidney investments. Analyst estimates have shifted downward by 31.5% since the earnings release, resulting in a Zacks Rank #5 (Strong Sell) rating.