TransMedics Group (NASDAQ:TMDX) Shares Up 7.8% – Here’s Why

TransMedics Group, Inc. (NASDAQ:TMDX) shares were up 7.8% during mid-day trading on Monday . The stock traded as high as $76.00 and last traded at $74.50. Approximately 538,176 shares changed hands during trading, a decline of 74% from the average daily volume of 2,074,627 shares. The stock had previously closed at $69.09.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TMDX shares. Oppenheimer restated an “outperform” rating and set a $125.00 price objective on shares of TransMedics Group in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $75.00 target price (down previously from $116.00) on shares of TransMedics Group in a report on Tuesday, December 17th. Piper Sandler cut their price target on TransMedics Group from $110.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Baird R W raised shares of TransMedics Group to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Robert W. Baird cut their target price on shares of TransMedics Group from $150.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.70.

TransMedics Group Stock Performance

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 company has a market cap of $2.43 billion, a PE ratio of 77.18 and a beta of 2.12. The business’s 50 day moving average is $74.62 and its two-hundred day moving average is $122.32.

TransMedics Group (NASDAQ:TMDX) last released its 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 business had revenue of $108.76 million for the quarter, compared to analysts’ expectations of $115.00 million. During the same quarter in the prior year, the business posted ($0.12) EPS. The business’s revenue for the quarter was up 63.7% compared to the same quarter last year. On average, equities research analysts anticipate that TransMedics Group, Inc. will post 1 EPS for the current year.

Insider Activity

In other news, Director Edward M. Basile sold 6,750 shares of the company’s stock in a transaction that occurred on 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 directly owns 732 shares of the company’s stock, valued at $61,158.60. This represents a 90.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Waleed H. Hassanein sold 8,625 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $132.71, for a total transaction of $1,144,623.75. Following the completion of the transaction, the chief executive officer now directly owns 61,643 shares of the company’s stock, valued at approximately $8,180,642.53. This trade represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,459 shares of company stock worth $1,802,244 over the last quarter. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On TransMedics Group

A number of hedge funds have recently bought and sold shares of TMDX. Commonwealth Equity Services LLC raised its position in shares of TransMedics Group by 62.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 6,497 shares of the company’s stock valued at $979,000 after buying an additional 2,491 shares in the last quarter. Rhumbline Advisers raised its position in TransMedics Group by 3.9% during the second quarter. Rhumbline Advisers now owns 47,645 shares of the company’s stock valued at $7,176,000 after purchasing an additional 1,783 shares during the period. Arizona State Retirement System lifted its stake in shares of TransMedics Group by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 9,158 shares of the company’s stock valued at $1,379,000 after purchasing an additional 186 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of TransMedics Group by 230.6% in the 2nd quarter. Private Advisor Group LLC now owns 10,017 shares of the company’s stock worth $1,509,000 after purchasing an additional 6,987 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in shares of TransMedics Group by 20.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 9,307 shares of the company’s stock valued at $1,402,000 after purchasing an additional 1,551 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

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.