TransMedics Group (NASDAQ:TMDX) Posts Quarterly Earnings Results, Misses Estimates By $0.16 EPS

TransMedics Group (NASDAQ:TMDX) released its earnings results on Monday. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16), Briefing.com reports. The firm had revenue of $108.76 million during the quarter, compared to analysts’ expectations of $115.00 million. TransMedics Group had a net margin of 0.84% and a return on equity of 15.98%. The company’s revenue for the quarter was up 63.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) EPS. TransMedics Group updated its FY 2024 guidance to EPS.

TransMedics Group Price Performance

Shares of NASDAQ:TMDX opened at $89.67 on Tuesday. The company has a debt-to-equity ratio of 2.67, a quick ratio of 8.48 and a current ratio of 9.37. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 3,156.00 and a beta of 1.99. The business has a 50-day simple moving average of $147.58 and a two-hundred day simple moving average of $140.19. TransMedics Group has a fifty-two week low of $36.42 and a fifty-two week high of $177.37.

Insider Activity

In other news, insider Anil P. Ranganath sold 4,289 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $152.20, for a total transaction of $652,785.80. Following the completion of the transaction, the insider now directly owns 8,893 shares of the company’s stock, valued at $1,353,514.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Waleed H. Hassanein sold 8,625 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $153.42, for a total transaction of $1,323,247.50. Following the completion of the sale, the chief executive officer now owns 61,643 shares of the company’s stock, valued at $9,457,269.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anil P. Ranganath sold 4,289 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $152.20, for a total transaction of $652,785.80. Following the completion of the transaction, the insider now directly owns 8,893 shares in the company, valued at approximately $1,353,514.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,205 shares of company stock valued at $9,981,907 in the last 90 days. 7.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TMDX. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target on shares of TransMedics Group in a research note on Monday, October 7th. Baird R W raised TransMedics Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Oppenheimer cut their price target on TransMedics Group from $200.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday. Needham & Company LLC lowered their price objective on TransMedics Group from $208.00 to $109.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Morgan Stanley increased their target price on TransMedics Group from $104.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $145.90.

TransMedics Group Company Profile

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.