TransMedics Group (NASDAQ:TMDX) Reaches New 1-Year Low After Analyst Downgrade

TransMedics Group, Inc. (NASDAQ:TMDX)’s share price reached a new 52-week low during trading on Thursday after Robert W. Baird lowered their price target on the stock from $150.00 to $120.00. Robert W. Baird currently has an outperform rating on the stock. TransMedics Group traded as low as $65.73 and last traded at $66.08, with a volume of 256946 shares changing hands. The stock had previously closed at $67.36.

Other equities research analysts have also issued research reports about the stock. Baird R W raised shares of TransMedics Group to a “strong-buy” rating in a report on Tuesday, September 24th. Needham & Company LLC reissued a “hold” rating on shares of TransMedics Group in a research note on Tuesday, December 3rd. Piper Sandler decreased 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. Oppenheimer reiterated an “outperform” rating and issued a $125.00 price objective on shares of TransMedics Group in a report on Tuesday, December 3rd. Finally, TD Cowen reduced their target price on TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a report on Monday, November 18th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.80.

Insider Transactions at TransMedics Group

In related news, insider Tamer I. Khayal sold 1,084 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were 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 approximately $1,800,835.20. This represents a 4.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Edward M. Basile sold 6,750 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.55, for a total transaction of $563,962.50. Following the sale, the director now owns 732 shares of the company’s stock, valued at approximately $61,158.60. The trade was a 90.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,042 shares of company stock worth $3,563,985 in the last ninety days. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On TransMedics Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of TransMedics Group during the 3rd quarter valued at approximately $149,000. Sanctuary Advisors LLC increased its stake in TransMedics Group by 63.4% during the third quarter. Sanctuary Advisors LLC now owns 4,041 shares of the company’s stock worth $634,000 after acquiring an additional 1,568 shares during the last quarter. Morse Asset Management Inc purchased a new stake in TransMedics Group in the third quarter valued at $823,000. Virtu Financial LLC acquired a new position in shares of TransMedics Group in the 3rd quarter valued at $436,000. Finally, Neo Ivy Capital Management purchased a new position in shares of TransMedics Group during the 3rd quarter worth $554,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

TransMedics Group Trading Down 2.2 %

The business has a fifty day moving average price of $97.26 and a two-hundred day moving average price of $131.98. The company has a current ratio of 8.20, a quick ratio of 7.33 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $2.16 billion, a PE ratio of 68.36 and a beta of 2.06.

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

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.