TransMedics Group (NASDAQ:TMDX) Posts Earnings Results, Beats Expectations By $0.14 EPS

TransMedics Group (NASDAQ:TMDX) released its quarterly earnings results on Wednesday. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.21 by $0.14, Briefing.com reports. The firm had revenue of $114.30 million for the quarter, compared to analyst estimates of $98.84 million. TransMedics Group had a negative net margin of 3.43% and a positive return on equity of 7.95%. The business’s revenue for the quarter was up 117.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.03) EPS. TransMedics Group updated its FY 2024 guidance to EPS.

TransMedics Group Stock Performance

Shares of NASDAQ:TMDX traded up $9.25 during midday trading on Thursday, hitting $151.51. The stock had a trading volume of 2,916,684 shares, compared to its average volume of 755,758. TransMedics Group has a 1 year low of $36.42 and a 1 year high of $171.98. The company has a current ratio of 9.72, a quick ratio of 8.76 and a debt-to-equity ratio of 3.18. The stock has a 50 day moving average price of $143.82 and a two-hundred day moving average price of $110.58. The company has a market capitalization of $4.99 billion, a PE ratio of -445.62 and a beta of 1.98.

Insider Buying and Selling

In other TransMedics Group news, CEO Waleed H. Hassanein sold 8,625 shares of TransMedics Group stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $145.17, for a total value of $1,252,091.25. Following the sale, the chief executive officer now owns 61,643 shares of the company’s stock, valued at approximately $8,948,714.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other TransMedics Group news, Director James R. Tobin sold 12,025 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $125.05, for a total transaction of $1,503,726.25. Following the transaction, the director now directly owns 193,146 shares in the company, valued at $24,152,907.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Waleed H. Hassanein sold 8,625 shares of TransMedics Group stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $145.17, for a total transaction of $1,252,091.25. Following the sale, the chief executive officer now owns 61,643 shares of the company’s stock, valued at $8,948,714.31. The disclosure for this sale can be found here. Insiders sold 113,367 shares of company stock valued at $15,145,741 over the last ninety days. Corporate insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. TD Cowen upped their price target on TransMedics Group from $130.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Oppenheimer boosted their price target on shares of TransMedics Group from $125.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday. Cantor Fitzgerald began coverage on shares of TransMedics Group in a research report on Thursday, June 6th. They issued an “overweight” rating and a $161.00 price target for the company. JPMorgan Chase & Co. upped their target price on shares of TransMedics Group from $105.00 to $127.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Piper Sandler boosted their price target on shares of TransMedics Group from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.50.

About TransMedics Group

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.