TransMedics Group (NASDAQ:TMDX) Hits New 1-Year Low – Here’s What Happened

TransMedics Group, Inc. (NASDAQ:TMDX)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $63.24 and last traded at $64.30, with a volume of 3160205 shares changing hands. The stock had previously closed at $67.84.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TMDX shares. TD Cowen lowered their target price on shares of TransMedics Group from $190.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Piper Sandler decreased their price target on TransMedics Group from $160.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Oppenheimer cut TransMedics Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 6th. Wall Street Zen downgraded TransMedics Group from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, JPMorgan Chase & Co. raised their target price on TransMedics Group from $114.00 to $149.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, TransMedics Group presently has a consensus rating of “Moderate Buy” and an average price target of $135.00.

TransMedics Group Price Performance

The company has a debt-to-equity ratio of 1.70, a quick ratio of 6.19 and a current ratio of 6.74. The stock’s 50-day moving average is $108.07 and its 200 day moving average is $123.74. The stock has a market capitalization of $2.23 billion, a PE ratio of 14.69 and a beta of 2.07.

TransMedics Group (NASDAQ:TMDX) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.32). TransMedics Group had a net margin of 27.04% and a return on equity of 22.38%. The company had revenue of $173.93 million during the quarter, compared to analysts’ expectations of $174.44 million. During the same period last year, the firm earned $0.70 earnings per share. TransMedics Group’s revenue was up 21.2% on a year-over-year basis. As a group, equities analysts expect that TransMedics Group, Inc. will post 1.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David Weill sold 3,571 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $146.82, for a total value of $524,294.22. Following the transaction, the director owned 12,134 shares in the company, valued at $1,781,513.88. The trade was a 22.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Gerardo Hernandez sold 7,236 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $147.21, for a total transaction of $1,065,211.56. Following the transaction, the chief financial officer directly owned 14,689 shares of the company’s stock, valued at $2,162,367.69. This represents a 33.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,205 shares of company stock worth $2,353,002. Corporate insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On TransMedics Group

Several institutional investors have recently modified their holdings of TMDX. Royal Bank of Canada raised its holdings in TransMedics Group by 47.9% during the first quarter. Royal Bank of Canada now owns 26,582 shares of the company’s stock worth $1,788,000 after purchasing an additional 8,604 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of TransMedics Group by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,525 shares of the company’s stock valued at $1,314,000 after buying an additional 868 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of TransMedics Group by 20.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 507,510 shares of the company’s stock worth $34,145,000 after buying an additional 86,721 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of TransMedics Group by 13.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,901 shares of the company’s stock worth $1,059,000 after buying an additional 938 shares in the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of TransMedics Group in the 2nd quarter worth about $209,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

About TransMedics Group

TransMedics Group, Inc is a medical device company headquartered in Andover, Massachusetts, that specializes in advanced organ preservation and transport systems for transplantation. The company’s flagship technology, the Organ Care System (OCS), maintains donor organs in a near-physiologic, warm, beating state during transportation, with the aim of extending preservation times and improving post‐transplant outcomes. TransMedics’ solutions address a critical need in transplantation by reducing ischemic injury and expanding the donor organ pool.

TransMedics currently markets two commercially available OCS platforms.