TransMedics Group (NASDAQ:TMDX) Shares Gap Down – What’s Next?

TransMedics Group, Inc. (NASDAQ:TMDX)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $85.14, but opened at $77.08. TransMedics Group shares last traded at $77.46, with a volume of 592,770 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Baird R W raised TransMedics Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Canaccord Genuity Group dropped their price target on TransMedics Group from $109.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of TransMedics Group in a research note on Tuesday. Finally, Robert W. Baird lowered their target price on shares of TransMedics Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.80.

TransMedics Group Stock Down 14.7 %

The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 82.41 and a beta of 2.06. 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’s 50 day simple moving average is $110.21 and its 200-day simple moving average is $135.81.

TransMedics Group (NASDAQ:TMDX) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.17). TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The firm had revenue of $108.76 million for the quarter, compared to analysts’ expectations of $115.00 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The company’s revenue for the quarter was up 63.7% on a year-over-year basis. On average, sell-side analysts anticipate that TransMedics Group, Inc. will post 1.01 EPS for the current fiscal year.

Insider Activity at TransMedics Group

In other news, Director Edward M. Basile sold 6,750 shares of TransMedics Group stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $83.55, for a total transaction of $563,962.50. Following the completion of the sale, the director now directly owns 732 shares in the company, valued at approximately $61,158.60. This trade represents a 90.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 a total of 26,958 shares of company stock worth $3,470,328 over the last three months. 7.00% of the stock is currently owned by corporate insiders.

Institutional Trading of TransMedics Group

Institutional investors have recently bought and sold shares of the company. Driehaus Capital Management LLC raised its stake in shares of TransMedics Group by 15.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,486,073 shares of the company’s stock worth $223,832,000 after buying an additional 202,867 shares during the last quarter. Geode Capital Management LLC increased its holdings in TransMedics Group by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 763,790 shares of the company’s stock valued at $119,938,000 after acquiring an additional 10,106 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in TransMedics Group by 5.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 599,116 shares of the company’s stock worth $94,061,000 after acquiring an additional 30,092 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of TransMedics Group by 24.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 329,010 shares of the company’s stock valued at $51,654,000 after purchasing an additional 64,360 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of TransMedics Group by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 271,694 shares of the company’s stock valued at $42,656,000 after purchasing an additional 6,634 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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.