TransMedics Group (NASDAQ:TMDX) Issues Quarterly Earnings Results

TransMedics Group (NASDAQ:TMDX) released its quarterly earnings data on Tuesday. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.06), FiscalAI reports. The company had revenue of $189.95 million during the quarter, compared to analysts’ expectations of $184.00 million. TransMedics Group had a net margin of 27.04% and a return on equity of 22.38%.

TransMedics Group Stock Performance

NASDAQ TMDX traded down $0.80 on Tuesday, hitting $80.75. The stock had a trading volume of 1,312,839 shares, compared to its average volume of 1,072,428. TransMedics Group has a one year low of $60.10 and a one year high of $156.00. The company has a quick ratio of 6.19, a current ratio of 6.74 and a debt-to-equity ratio of 1.70. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 18.35 and a beta of 1.90. The company’s 50-day moving average is $72.81 and its two-hundred day moving average is $100.15.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TMDX. Canaccord Genuity Group reiterated a “buy” rating and set a $124.00 target price on shares of TransMedics Group in a report on Tuesday, June 30th. Stifel Nicolaus lifted their price objective on shares of TransMedics Group from $75.00 to $80.00 and gave the company a “hold” rating in a research note on Thursday, June 18th. TD Cowen reissued a “buy” rating and set a $120.00 target price on shares of TransMedics Group in a research report on Wednesday, July 1st. Zacks Research downgraded shares of TransMedics Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of TransMedics Group in a report on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $126.27.

Insider Buying and Selling at TransMedics Group

In related news, Director Thomas J. Gunderson sold 9,624 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.06, for a total transaction of $722,377.44. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TransMedics Group

Several large investors have recently made changes to their positions in TMDX. Parallel Advisors LLC raised its stake in TransMedics Group by 42.1% during 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. Canada Pension Plan Investment Board boosted its holdings in TransMedics Group by 2.9% in the second quarter. Canada Pension Plan Investment Board now owns 3,600 shares of the company’s stock worth $482,000 after acquiring an additional 100 shares in the last quarter. US Bancorp DE grew its position in TransMedics Group by 24.2% in the 3rd quarter. US Bancorp DE now owns 533 shares of the company’s stock valued at $60,000 after purchasing an additional 104 shares during the period. Smartleaf Asset Management LLC boosted its stake in TransMedics Group by 24.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 548 shares of the company’s stock valued at $72,000 after purchasing an additional 108 shares during the last quarter. Finally, Summit Global Investments grew its stake in shares of TransMedics Group by 3.6% in the 4th quarter. Summit Global Investments now owns 3,260 shares of the company’s stock worth $397,000 after acquiring an additional 112 shares in the last quarter. 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.