TransMedics Group (NASDAQ:TMDX) Trading 6.6% Higher – Here’s What Happened

TransMedics Group, Inc. (NASDAQ:TMDX)’s stock price traded up 6.6% during mid-day trading on Tuesday . The stock traded as high as $64.80 and last traded at $65.10. 473,159 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 2,965,165 shares. The stock had previously closed at $61.07.

Analyst Ratings Changes

TMDX has been the topic of a number of research reports. TD Cowen lowered their price target 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. Piper Sandler decreased their price objective on TransMedics Group from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $125.00 target price on shares of TransMedics Group in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $75.00 price objective (down from $116.00) on shares of TransMedics Group in a report on Tuesday, December 17th. Finally, Robert W. Baird reduced their price target on TransMedics Group from $150.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, TransMedics Group has a consensus rating of “Moderate Buy” and an average price target of $122.70.

TransMedics Group Price Performance

The firm has a market cap of $2.25 billion, a P/E ratio of 71.22 and a beta of 2.12. The business has a 50-day simple moving average of $67.70 and a 200 day simple moving average of $113.12. The company has a debt-to-equity ratio of 2.42, a quick ratio of 7.33 and a current ratio of 8.20.

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

Insider Buying and Selling at TransMedics Group

In other TransMedics Group news, Director Edward M. Basile sold 6,750 shares of the business’s stock in a transaction 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 sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tamer I. Khayal sold 1,084 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $86.40, for a total transaction of $93,657.60. Following the sale, the insider now owns 20,843 shares in the company, valued at approximately $1,800,835.20. The trade was a 4.94 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On TransMedics Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in TMDX. USA Financial Formulas bought a new position in shares of TransMedics Group in the 3rd quarter worth approximately $55,000. Quarry LP raised its position in TransMedics Group by 557.1% in the third quarter. Quarry LP now owns 368 shares of the company’s stock worth $58,000 after acquiring an additional 312 shares during the period. National Bank of Canada FI raised its position in TransMedics Group by 174.7% in the third quarter. National Bank of Canada FI now owns 412 shares of the company’s stock worth $65,000 after acquiring an additional 262 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of 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 during the last quarter. Finally, Hager Investment Management Services LLC purchased a new stake in shares of TransMedics Group in the 4th quarter worth $33,000. 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.