M&T Bank Corp Trims Holdings in TransMedics Group, Inc. (NASDAQ:TMDX)

M&T Bank Corp reduced its holdings in shares of TransMedics Group, Inc. (NASDAQ:TMDX) by 1.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 14,742 shares of the company’s stock after selling 210 shares during the period. M&T Bank Corp’s holdings in TransMedics Group were worth $2,314,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in shares of TransMedics Group during the second quarter worth about $47,000. USA Financial Formulas acquired a new stake in TransMedics Group during the 3rd quarter worth approximately $55,000. Quarry LP grew its stake in shares of TransMedics Group by 557.1% in the 3rd quarter. Quarry LP now owns 368 shares of the company’s stock valued at $58,000 after purchasing an additional 312 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of TransMedics Group by 174.7% in the third quarter. National Bank of Canada FI now owns 412 shares of the company’s stock valued at $65,000 after purchasing an additional 262 shares during the period. Finally, Signaturefd LLC raised its stake in shares of TransMedics Group by 26.6% during the second quarter. Signaturefd LLC now owns 443 shares of the company’s stock worth $67,000 after purchasing an additional 93 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

TransMedics Group Stock Performance

TMDX opened at $64.26 on Friday. TransMedics Group, Inc. has a 1-year low of $63.42 and a 1-year high of $177.37. The stock has a market cap of $2.16 billion, a P/E ratio of 68.36 and a beta of 2.06. The stock’s 50 day simple moving average is $97.26 and its 200 day simple moving average is $131.98. The company has a debt-to-equity ratio of 2.42, a current ratio of 8.20 and a quick ratio of 7.33.

TransMedics Group (NASDAQ:TMDX) last posted 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). TransMedics Group had a net margin of 8.14% and a return on equity of 18.74%. The firm had revenue of $108.76 million during the quarter, compared to analyst estimates of $115.00 million. During the same period last year, the company posted ($0.12) EPS. The firm’s revenue for the quarter was up 63.7% on a year-over-year basis. As a group, equities analysts anticipate that TransMedics Group, Inc. will post 1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of TransMedics Group from $150.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday. Piper Sandler lowered their target price on shares of TransMedics Group from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Baird R W upgraded shares of TransMedics Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, TD Cowen dropped their target price on TransMedics Group from $175.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $126.80.

Insider Buying and Selling at TransMedics Group

In other news, CEO Waleed H. Hassanein sold 8,625 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $153.42, for a total transaction of $1,323,247.50. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward M. Basile sold 6,750 shares of TransMedics Group stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.55, for a total value of $563,962.50. Following the transaction, the director now owns 732 shares of the company’s stock, valued at $61,158.60. This represents a 90.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,042 shares of company stock worth $3,563,985. 7.00% of the stock is owned by corporate insiders.

TransMedics Group 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.