TransMedics Group (NASDAQ:TMDX) Trading Up 3.7% – Here’s What Happened

TransMedics Group, Inc. (NASDAQ:TMDX)’s share price traded up 3.7% on Tuesday . The company traded as high as $61.90 and last traded at $61.48. 585,065 shares were traded during mid-day trading, a decline of 44% from the average session volume of 1,052,683 shares. The stock had previously closed at $59.28.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TMDX shares. Baird R W raised TransMedics Group to a “strong-buy” rating in a report on Tuesday, September 24th. Piper Sandler lowered their price target on shares of TransMedics Group from $110.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $75.00 price target (down previously from $116.00) on shares of TransMedics Group in a report on Tuesday, December 17th. Oppenheimer reissued an “outperform” rating and set a $125.00 price objective on shares of TransMedics Group in a report on Tuesday, December 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of TransMedics Group in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.70.

TransMedics Group Price Performance

The company has a debt-to-equity ratio of 2.42, a quick ratio of 7.33 and a current ratio of 8.20. The company has a 50-day moving average of $78.06 and a 200-day moving average of $124.46. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 66.33 and a beta of 2.06.

TransMedics Group (NASDAQ:TMDX) last released its quarterly earnings results on Monday, October 28th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.17). TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The company had revenue of $108.76 million during the quarter, compared to analyst estimates of $115.00 million. During the same period last year, the firm earned ($0.12) earnings per share. The business’s revenue was up 63.7% compared to the same quarter last year. As a group, equities research analysts expect that TransMedics Group, Inc. will post 1 earnings per share for the current fiscal year.

Insider Buying and Selling at TransMedics Group

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

Institutional Trading of TransMedics Group

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new position in shares of TransMedics Group during the 2nd quarter worth about $47,000. USA Financial Formulas purchased a new stake in TransMedics Group in the third quarter valued at approximately $55,000. Quarry LP increased its position in TransMedics Group by 557.1% during the third quarter. Quarry LP now owns 368 shares of the company’s stock worth $58,000 after purchasing an additional 312 shares during the last quarter. National Bank of Canada FI raised its stake in TransMedics Group by 174.7% during the third quarter. National Bank of Canada FI now owns 412 shares of the company’s stock worth $65,000 after purchasing an additional 262 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of TransMedics Group by 26.6% in the 2nd quarter. Signaturefd LLC now owns 443 shares of the company’s stock valued at $67,000 after purchasing an additional 93 shares during the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

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.