Hsbc Holdings PLC Sells 69,813 Shares of TransMedics Group, Inc. (NASDAQ:TMDX)

Hsbc Holdings PLC lowered its holdings in TransMedics Group, Inc. (NASDAQ:TMDX) by 91.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,560 shares of the company’s stock after selling 69,813 shares during the quarter. Hsbc Holdings PLC’s holdings in TransMedics Group were worth $987,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TMDX. Wasatch Advisors LP bought a new stake in TransMedics Group during the 1st quarter valued at $32,162,000. Vaughan Nelson Investment Management L.P. bought a new stake in TransMedics Group during the second quarter valued at about $39,862,000. First Light Asset Management LLC boosted its position in TransMedics Group by 22.0% during the fourth quarter. First Light Asset Management LLC now owns 754,317 shares of the company’s stock valued at $59,538,000 after purchasing an additional 136,217 shares in the last quarter. F M Investments LLC bought a new position in TransMedics Group in the second quarter worth about $10,957,000. Finally, Renaissance Technologies LLC lifted its position in shares of TransMedics Group by 106.7% during the second quarter. Renaissance Technologies LLC now owns 131,899 shares of the company’s stock valued at $19,867,000 after buying an additional 68,100 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

TransMedics Group Stock Up 10.1 %

TMDX stock opened at $159.14 on Friday. The firm’s fifty day moving average is $156.26 and its 200 day moving average is $131.40. The firm has a market cap of $5.24 billion, a PE ratio of -468.06 and a beta of 1.99. TransMedics Group, Inc. has a one year low of $36.42 and a one year high of $177.37. The company has a debt-to-equity ratio of 2.67, a quick ratio of 8.48 and a current ratio of 9.37.

TransMedics Group (NASDAQ:TMDX) last posted its earnings results on Wednesday, July 31st. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.14. The firm had revenue of $114.30 million for the quarter, compared to analysts’ expectations of $98.84 million. TransMedics Group had a return on equity of 15.98% and a net margin of 0.84%. The company’s quarterly revenue was up 117.7% on a year-over-year basis. During the same period last year, the firm earned ($0.03) EPS. On average, research analysts forecast that TransMedics Group, Inc. will post 1.23 EPS for the current year.

Insider Activity

In other news, Director James R. Tobin sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $159.33, for a total transaction of $3,186,600.00. Following the transaction, the director now owns 173,146 shares in the company, valued at approximately $27,587,352.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director James R. Tobin sold 20,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $159.33, for a total value of $3,186,600.00. Following the completion of the sale, the director now owns 173,146 shares of the company’s stock, valued at approximately $27,587,352.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Waleed H. Hassanein sold 8,625 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 61,643 shares in the company, valued at $9,457,269.06. The disclosure for this sale can be found here. Insiders sold 61,247 shares of company stock worth $9,650,880 over the last three months. 7.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TMDX. Baird R W upgraded shares of TransMedics Group to a “strong-buy” rating in a research note on Tuesday, September 24th. Needham & Company LLC initiated coverage on shares of TransMedics Group in a report on Wednesday, August 21st. They set a “buy” rating and a $208.00 price objective on the stock. Piper Sandler lifted their target price on shares of TransMedics Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Oppenheimer raised their price target on shares of TransMedics Group from $125.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Morgan Stanley lifted their price objective on shares of 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 issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $174.30.

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.