TransMedics Group (NASDAQ:TMDX) Stock Price Down 5% – Here’s Why

TransMedics Group, Inc. (NASDAQ:TMDX)’s share price dropped 5% on Friday . The stock traded as low as $72.68 and last traded at $75.39. Approximately 748,139 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 982,771 shares. The stock had previously closed at $79.34.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TMDX shares. Robert W. Baird dropped their price target on TransMedics Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Stephens raised their target price on shares of TransMedics Group from $151.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. TD Cowen reduced their price target on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Baird R W raised shares of TransMedics Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Piper Sandler reduced their target price on shares of TransMedics Group from $180.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.80.

TransMedics Group Trading Down 4.2 %

The company has a quick ratio of 7.33, a current ratio of 8.20 and a debt-to-equity ratio of 2.42. The company’s fifty day moving average price is $119.18 and its two-hundred day moving average price is $137.70. The firm has a market cap of $2.55 billion, a PE ratio of 80.89 and a beta of 2.08.

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

Insider Buying and Selling

In other news, insider Tamer I. Khayal sold 2,958 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $148.24, for a total transaction of $438,493.92. Following the sale, the insider now owns 20,843 shares of the company’s stock, valued at $3,089,766.32. The trade was a 12.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Waleed H. Hassanein sold 8,625 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $153.42, for a total value of $1,323,247.50. Following the completion of the sale, the chief executive officer now owns 61,643 shares in the company, valued at approximately $9,457,269.06. This represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,958 shares of company stock valued at $5,230,528 over the last quarter. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On TransMedics Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of TransMedics Group in the second quarter valued at $47,000. USA Financial Formulas acquired a new stake in TransMedics Group in the 3rd quarter valued at about $55,000. Quarry LP increased its holdings in TransMedics Group by 557.1% during the 3rd quarter. Quarry LP now owns 368 shares of the company’s stock valued at $58,000 after acquiring an additional 312 shares in the last quarter. National Bank of Canada FI raised its position 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 acquiring an additional 262 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in shares of TransMedics Group by 649.2% in the second quarter. J.Safra Asset Management Corp now owns 442 shares of the company’s stock valued at $67,000 after purchasing an additional 383 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

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.