TransMedics Group (NASDAQ:TMDX) Shares Down 8.9% – Here’s Why

TransMedics Group, Inc. (NASDAQ:TMDX)’s share price was down 8.9% during trading on Friday . The stock traded as low as $68.01 and last traded at $70.7980. 497,424 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 1,080,917 shares. The stock had previously closed at $77.75.

Analysts Set New Price Targets

TMDX has been the topic of several recent research reports. Wall Street Zen cut shares of TransMedics Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Piper Sandler reduced their target price on shares of TransMedics Group from $160.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Oppenheimer lowered shares of TransMedics Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 6th. TD Cowen dropped their price target on TransMedics Group from $190.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, Stifel Nicolaus increased their price objective on TransMedics Group from $75.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, June 18th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $134.50.

TransMedics Group Price Performance

The company has a current ratio of 6.74, a quick ratio of 6.19 and a debt-to-equity ratio of 1.70. The stock has a 50-day simple moving average of $80.44 and a 200 day simple moving average of $110.75. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 15.97 and a beta of 1.91.

TransMedics Group (NASDAQ:TMDX) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.32). TransMedics Group had a return on equity of 22.38% and a net margin of 27.04%.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 company earned $0.70 earnings per share. TransMedics Group’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, equities research analysts forecast that TransMedics Group, Inc. will post 1.98 EPS for the current fiscal year.

Insider Activity

In other TransMedics Group news, Director Thomas J. Gunderson sold 9,624 shares of TransMedics Group stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.06, for a total transaction of $722,377.44. Following the completion of the sale, the director owned 16,642 shares of the company’s stock, valued at $1,249,148.52. This trade represents a 36.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.90% of the stock is owned by company insiders.

Institutional Trading of TransMedics Group

A number of institutional investors have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in TransMedics Group in the 3rd quarter worth about $29,000. Allworth Financial LP grew its stake in shares of TransMedics Group by 74.3% in the 3rd quarter. Allworth Financial LP now owns 265 shares of the company’s stock valued at $30,000 after buying an additional 113 shares in the last quarter. Optiver Holding B.V. increased its holdings in TransMedics Group by 248.1% in the third quarter. Optiver Holding B.V. now owns 268 shares of the company’s stock worth $30,000 after buying an additional 191 shares during the last quarter. Parallel Advisors LLC increased its holdings in TransMedics Group by 42.1% in the fourth quarter. Parallel Advisors LLC now owns 280 shares of the company’s stock worth $34,000 after buying an additional 83 shares during the last quarter. Finally, Ascentis Independent Advisors bought a new position in TransMedics Group during the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

TransMedics Group Company Profile

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.