M&T Bank Corp Trims Holdings in TransMedics Group, Inc. (NASDAQ:TMDX)

M&T Bank Corp reduced its stake in TransMedics Group, Inc. (NASDAQ:TMDX) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 14,742 shares of the company’s stock after selling 210 shares during the quarter. M&T Bank Corp’s holdings in TransMedics Group were worth $2,314,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of TransMedics Group during the third quarter worth $2,560,000. Charles Schwab Investment Management Inc. lifted its stake in TransMedics Group by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 271,694 shares of the company’s stock worth $42,656,000 after acquiring an additional 6,634 shares in the last quarter. Zacks Investment Management purchased a new position in TransMedics Group during the 3rd quarter valued at about $1,607,000. Vaughan Nelson Investment Management L.P. grew its position in TransMedics Group by 24.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 329,010 shares of the company’s stock valued at $51,654,000 after acquiring an additional 64,360 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in TransMedics Group by 665.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 74,625 shares of the company’s stock worth $11,716,000 after purchasing an additional 64,872 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Analysts Set New Price Targets

TMDX has been the subject of a number of research reports. Baird R W upgraded shares of TransMedics Group to a “strong-buy” rating in a report on Tuesday, September 24th. Canaccord Genuity Group dropped their price target on shares of TransMedics Group from $109.00 to $104.00 and set a “buy” rating for the company in a research note on Wednesday, November 20th. Piper Sandler reduced their price objective on TransMedics Group from $110.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of TransMedics Group in a report on Wednesday. Finally, Robert W. Baird cut their price target on TransMedics Group from $150.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $126.80.

TransMedics Group Stock Down 2.2 %

TransMedics Group stock opened at $64.26 on Friday. The stock’s fifty day moving average is $97.26 and its two-hundred day moving average is $131.98. The stock has a market cap of $2.16 billion, a PE ratio of 68.36 and a beta of 2.06. TransMedics Group, Inc. has a 1-year low of $63.42 and a 1-year high of $177.37. The company has a debt-to-equity ratio of 2.42, a current ratio of 8.20 and a quick ratio of 7.33.

TransMedics Group (NASDAQ:TMDX) last posted its earnings results on Monday, October 28th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.17). The business had revenue of $108.76 million for the quarter, compared to analysts’ expectations of $115.00 million. TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. TransMedics Group’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 firm earned ($0.12) EPS. On average, sell-side analysts expect that TransMedics Group, Inc. will post 1 EPS for the current fiscal year.

Insider Transactions at TransMedics Group

In related news, insider Tamer I. Khayal sold 1,084 shares of TransMedics Group stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.40, for a total transaction of $93,657.60. Following the sale, the insider now directly owns 20,843 shares in the company, valued at $1,800,835.20. This trade represents a 4.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward M. Basile sold 6,750 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.55, for a total transaction of $563,962.50. Following the completion of the transaction, the director now owns 732 shares of the company’s stock, valued at $61,158.60. This represents a 90.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,042 shares of company stock worth $3,563,985. 7.00% of the stock is currently owned by insiders.

TransMedics Group 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.