TransMedics Group (NASDAQ:TMDX) Shares Up 7.1% – Here’s What Happened

Shares of TransMedics Group, Inc. (NASDAQ:TMDX) traded up 7.1% on Monday . The stock traded as high as $68.38 and last traded at $67.7150. 214,221 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,057,757 shares. The stock had previously closed at $63.20.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TMDX shares. Canaccord Genuity Group reduced their price target on shares of TransMedics Group from $152.00 to $124.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Wall Street Zen downgraded shares of TransMedics Group from a “hold” rating to a “sell” rating in a research report 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. JPMorgan Chase & Co. increased their target price on shares of TransMedics Group from $114.00 to $149.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Finally, Oppenheimer lowered TransMedics Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.00.

TransMedics Group Price Performance

The company has a market cap of $2.33 billion, a price-to-earnings ratio of 15.33 and a beta of 2.07. The company’s 50 day moving average price is $104.66 and its 200 day moving average price is $122.77. The company has a current ratio of 6.74, a quick ratio of 6.19 and a debt-to-equity ratio of 1.70.

TransMedics Group (NASDAQ:TMDX) last issued 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). The firm had revenue of $173.93 million for the quarter, compared to analyst estimates of $174.44 million. TransMedics Group had a return on equity of 22.38% and a net margin of 27.04%.The company’s revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. Equities research analysts forecast that TransMedics Group, Inc. will post 1.98 earnings per share for the current year.

Insider Activity at TransMedics Group

In other news, Director David Weill sold 3,571 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $146.82, for a total transaction of $524,294.22. Following the completion of the transaction, the director directly owned 12,134 shares of the company’s stock, valued at approximately $1,781,513.88. This represents a 22.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Corcoran sold 2,966 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $139.12, for a total value of $412,629.92. Following the completion of the sale, the insider directly owned 29,831 shares of the company’s stock, valued at $4,150,088.72. This represents a 9.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,205 shares of company stock worth $2,353,002 in the last three months. 6.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TransMedics Group

Several institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of TransMedics Group by 981.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 227 shares of the company’s stock valued at $26,000 after purchasing an additional 206 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in TransMedics Group during the third quarter worth about $29,000. Allworth Financial LP grew its position in TransMedics Group by 74.3% during the third quarter. Allworth Financial LP now owns 265 shares of the company’s stock worth $30,000 after buying an additional 113 shares during the period. 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 valued at $30,000 after buying an additional 191 shares in the last quarter. Finally, 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 valued at $34,000 after buying an additional 83 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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.