Algert Global LLC Acquires New Position in TransMedics Group, Inc. (NASDAQ:TMDX)

Algert Global LLC bought a new position in shares of TransMedics Group, Inc. (NASDAQ:TMDX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 17,825 shares of the company’s stock, valued at approximately $2,685,000.

Other large investors have also modified their holdings of the company. Driehaus Capital Management LLC boosted its stake in shares of TransMedics Group by 15.8% in the second quarter. Driehaus Capital Management LLC now owns 1,486,073 shares of the company’s stock valued at $223,832,000 after buying an additional 202,867 shares in the last quarter. Scientech Research LLC acquired a new position in shares of TransMedics Group during the 2nd quarter worth $1,923,000. The Manufacturers Life Insurance Company grew its stake in shares of TransMedics Group by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,816 shares of the company’s stock worth $2,683,000 after purchasing an additional 870 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of TransMedics Group in the 2nd quarter valued at about $839,000. Finally, Deerfield Management Company L.P. Series C acquired a new stake in shares of TransMedics Group in the second quarter valued at about $1,400,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TMDX has been the topic of several recent analyst reports. TD Cowen upped their target price on shares of TransMedics Group from $130.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Morgan Stanley upped their price target on TransMedics Group from $104.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Stephens lifted their price objective on TransMedics Group from $151.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Piper Sandler boosted their target price on TransMedics Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Canaccord Genuity Group raised their price target on TransMedics Group from $117.00 to $169.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, TransMedics Group presently has a consensus rating of “Buy” and an average target price of $174.30.

TransMedics Group Trading Down 7.8 %

TransMedics Group stock opened at $144.82 on Wednesday. The stock has a 50-day moving average price of $156.20 and a 200 day moving average price of $133.11. TransMedics Group, Inc. has a 52 week low of $36.42 and a 52 week high of $177.37. The stock has a market cap of $4.83 billion, a PE ratio of -425.94 and a beta of 1.99. The company has a current ratio of 9.37, a quick ratio of 8.48 and a debt-to-equity ratio of 2.67.

TransMedics Group (NASDAQ:TMDX) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.14. TransMedics Group had a net margin of 0.84% and a return on equity of 15.98%. The business had revenue of $114.30 million during the quarter, compared to analyst estimates of $98.84 million. During the same quarter in the previous year, the business posted ($0.03) earnings per share. The company’s revenue was up 117.7% on a year-over-year basis. Equities research analysts predict that TransMedics Group, Inc. will post 1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Waleed H. Hassanein sold 8,625 shares of TransMedics Group stock in a transaction 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 completion of the sale, the chief executive officer now owns 61,643 shares of the company’s stock, valued at $8,948,714.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director James R. Tobin sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $159.33, for a total transaction of $3,186,600.00. Following the completion of the transaction, the director now owns 173,146 shares of the company’s stock, valued at $27,587,352.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Waleed H. Hassanein sold 8,625 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $145.17, for a total transaction of $1,252,091.25. Following the transaction, the chief executive officer now directly owns 61,643 shares in the company, valued at approximately $8,948,714.31. The disclosure for this sale can be found here. Insiders have sold a total of 61,247 shares of company stock valued at $9,650,880 in the last quarter. 7.00% of the stock is currently owned by company 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.