Truist Financial Corp Lowers Stake in TransMedics Group, Inc. (NASDAQ:TMDX)

Truist Financial Corp cut its stake in TransMedics Group, Inc. (NASDAQ:TMDX) by 26.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,273 shares of the company’s stock after selling 1,547 shares during the quarter. Truist Financial Corp’s holdings in TransMedics Group were worth $644,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TMDX. Wasatch Advisors LP acquired a new position in TransMedics Group during the 1st quarter valued at approximately $32,162,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of TransMedics Group during the second quarter valued at $39,862,000. Driehaus Capital Management LLC increased its position in shares of TransMedics Group by 15.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,486,073 shares of the company’s stock valued at $223,832,000 after acquiring an additional 202,867 shares during the period. Hood River Capital Management LLC purchased a new position in TransMedics Group in the 2nd quarter worth $18,854,000. Finally, Canada Pension Plan Investment Board acquired a new stake in TransMedics Group during the 2nd quarter worth about $16,086,000. 99.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

TMDX has been the topic of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price on shares of TransMedics Group in a research report on Monday, October 7th. Robert W. Baird began coverage on shares of TransMedics Group in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $200.00 price objective on the stock. Stephens boosted their target price on shares of TransMedics Group from $151.00 to $178.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley increased their price target on TransMedics Group from $104.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Finally, Needham & Company LLC initiated coverage on TransMedics Group in a research note on Wednesday, August 21st. They set a “buy” rating and a $208.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $174.30.

Insider Activity

In other news, insider Nicholas Corcoran sold 10,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $176.02, for a total value of $1,760,200.00. Following the completion of the sale, the insider now directly owns 21,105 shares in the company, valued at $3,714,902.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other TransMedics Group news, insider Tamer I. Khayal sold 2,958 shares of TransMedics Group stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $156.77, for a total transaction of $463,725.66. Following the transaction, the insider now directly owns 20,843 shares of the company’s stock, valued at $3,267,557.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Corcoran sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $176.02, for a total transaction of $1,760,200.00. Following the completion of the sale, the insider now directly owns 21,105 shares of the company’s stock, valued at approximately $3,714,902.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,580 shares of company stock worth $8,837,283 over the last quarter. 7.00% of the stock is currently owned by corporate insiders.

TransMedics Group Stock Performance

Shares of TMDX stock opened at $131.84 on Wednesday. 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, Inc. has a 12-month low of $36.42 and a 12-month high of $177.37. The business’s 50 day moving average is $154.43 and its two-hundred day moving average is $137.60. The company has a market capitalization of $4.34 billion, a P/E ratio of -387.76 and a beta of 1.99.

TransMedics Group (NASDAQ:TMDX) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.35 earnings per share (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 net margin of 0.84% and a return on equity of 15.98%. The firm’s revenue for the quarter was up 117.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) EPS. Analysts expect that TransMedics Group, Inc. will post 1.22 EPS for the current fiscal year.

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.