Pitcairn Co. Trims Stock Holdings in TransMedics Group, Inc. (NASDAQ:TMDX)

Pitcairn Co. lessened its stake in shares of TransMedics Group, Inc. (NASDAQ:TMDX) by 34.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,993 shares of the company’s stock after selling 2,063 shares during the quarter. Pitcairn Co.’s holdings in TransMedics Group were worth $627,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC purchased a new position in shares of TransMedics Group during the 2nd quarter worth approximately $47,000. USA Financial Formulas purchased a new position in shares of TransMedics Group during the third quarter worth $55,000. J.Safra Asset Management Corp grew its stake 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 buying an additional 383 shares in the last quarter. Signaturefd LLC raised 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 buying an additional 93 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in TransMedics Group by 187.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 485 shares of the company’s stock worth $76,000 after acquiring an additional 316 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TMDX has been the subject of several research reports. Piper Sandler dropped their target price on TransMedics Group from $180.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. TD Cowen cut their target price on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Stephens raised their price target 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. Finally, Needham & Company LLC reaffirmed a “hold” rating and set a $109.00 price objective on shares of TransMedics Group in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.80.

TransMedics Group Price Performance

Shares of TMDX opened at $78.58 on Tuesday. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 83.60 and a beta of 2.08. The firm’s fifty day simple moving average is $117.72 and its 200-day simple moving average is $137.49. TransMedics Group, Inc. has a twelve month low of $67.77 and a twelve month high of $177.37. The company has a current ratio of 8.20, a quick ratio of 7.33 and a debt-to-equity ratio of 2.42.

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

Insider Transactions at TransMedics Group

In related news, CEO Waleed H. Hassanein sold 8,625 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $153.42, for a total value of $1,323,247.50. Following the transaction, the chief executive officer now directly owns 61,643 shares of the company’s stock, valued at $9,457,269.06. This trade represents a 12.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tamer I. Khayal sold 2,958 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $148.24, for a total transaction of $438,493.92. Following the completion of the sale, the insider now directly owns 20,843 shares of the company’s stock, valued at approximately $3,089,766.32. This trade represents a 12.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,958 shares of company stock valued at $3,470,328. Corporate insiders own 7.00% of the company’s stock.

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.