TransMedics Group (NASDAQ:TMDX) Trading 7.8% Higher – Here’s Why

TransMedics Group, Inc. (NASDAQ:TMDX)’s stock price was up 7.8% during trading on Monday . The stock traded as high as $76.00 and last traded at $74.50. Approximately 538,176 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 2,074,627 shares. The stock had previously closed at $69.09.

Analyst Ratings Changes

Several research firms have recently weighed in on TMDX. Robert W. Baird decreased their price target on shares of TransMedics Group from $150.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Canaccord Genuity Group decreased their target price on TransMedics Group from $109.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday, November 20th. TD Cowen dropped their price target on TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Piper Sandler cut their price objective on TransMedics Group from $110.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Finally, Baird R W raised shares of TransMedics Group to a “strong-buy” rating in a research note on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.70.

TransMedics Group Trading Down 7.8 %

The stock has a market capitalization of $2.43 billion, a P/E ratio of 77.18 and a beta of 2.12. The stock’s fifty day moving average price is $74.62 and its two-hundred day moving average price is $122.32. The company has a current ratio of 8.20, a quick ratio of 7.33 and a debt-to-equity ratio of 2.42.

TransMedics Group (NASDAQ:TMDX) last posted its quarterly 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). TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The business had revenue of $108.76 million during the quarter, compared to the consensus estimate of $115.00 million. During the same period in the prior year, the firm earned ($0.12) earnings per share. The business’s revenue for the quarter was up 63.7% on a year-over-year basis. Equities research analysts forecast that TransMedics Group, Inc. will post 1 EPS for the current year.

Insider Buying and Selling

In other TransMedics Group news, CEO Waleed H. Hassanein sold 8,625 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $132.71, for a total transaction of $1,144,623.75. Following the transaction, the chief executive officer now directly owns 61,643 shares of the company’s stock, valued at approximately $8,180,642.53. The trade was a 12.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tamer I. Khayal sold 1,084 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $86.40, for a total transaction of $93,657.60. Following the completion of the transaction, the insider now directly owns 20,843 shares of the company’s stock, valued at approximately $1,800,835.20. The trade was a 4.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,459 shares of company stock worth $1,802,244 in the last ninety days. 7.00% of the stock is owned by insiders.

Institutional Investors Weigh In On TransMedics Group

Several hedge funds have recently made changes to their positions in TMDX. Amalgamated Bank grew its position in shares of TransMedics Group by 6.7% in the 2nd quarter. Amalgamated Bank now owns 1,114 shares of the company’s stock worth $168,000 after buying an additional 70 shares during the period. Harbour Capital Advisors LLC grew its position in TransMedics Group by 1.7% during the 3rd quarter. Harbour Capital Advisors LLC now owns 4,841 shares of the company’s stock valued at $760,000 after purchasing an additional 81 shares during the last quarter. Arizona State Retirement System increased its stake in TransMedics Group by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 9,158 shares of the company’s stock valued at $1,379,000 after purchasing an additional 186 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in TransMedics Group by 33.7% in the third quarter. Venturi Wealth Management LLC now owns 869 shares of the company’s stock worth $136,000 after buying an additional 219 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of TransMedics Group by 174.7% in the third quarter. National Bank of Canada FI now owns 412 shares of the company’s stock worth $65,000 after buying an additional 262 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

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.