TransMedics Group (NASDAQ:TMDX) Trading Down 5.5% – Here’s Why

TransMedics Group, Inc. (NASDAQ:TMDX)’s stock price was down 5.5% on Monday . The stock traded as low as $83.77 and last traded at $83.56. Approximately 209,361 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,043,676 shares. The stock had previously closed at $88.43.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TMDX shares. TD Cowen reissued a “buy” rating and set a $120.00 target price on shares of TransMedics Group in a research note on Wednesday, July 1st. Stifel Nicolaus lifted their price target 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. Oppenheimer cut shares of TransMedics Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 6th. UBS Group cut their price objective on shares of TransMedics Group from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Finally, Piper Sandler restated an “overweight” rating and issued a $100.00 target price (down from $120.00) on shares of TransMedics Group in a research note on Wednesday, August 5th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $124.18.

TransMedics Group Stock Down 5.9%

The company has a market cap of $2.87 billion, a price-to-earnings ratio of 21.38 and a beta of 1.90. The company has a debt-to-equity ratio of 1.62, a quick ratio of 6.07 and a current ratio of 6.62. The stock’s fifty day moving average is $79.04 and its two-hundred day moving average is $93.59.

TransMedics Group (NASDAQ:TMDX) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). The company had revenue of $189.95 million for the quarter, compared to analyst estimates of $184.00 million. TransMedics Group had a net margin of 22.69% and a return on equity of 15.88%. TransMedics Group’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. Sell-side analysts predict that TransMedics Group, Inc. will post 1.46 earnings per share for the current fiscal year.

Insider Buying and Selling at TransMedics Group

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

Institutional Investors Weigh In On TransMedics Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Silvant Capital Management LLC bought a new stake in shares of TransMedics Group in the 2nd quarter worth $26,000. Harvest Fund Management Co. Ltd bought a new position in shares of TransMedics Group during the third quarter valued at about $29,000. North Star Investment Management Corp. bought a new position in shares of TransMedics Group during the first quarter valued at about $30,000. Ascentis Independent Advisors purchased a new position in TransMedics Group during the first quarter worth about $30,000. Finally, Allworth Financial LP boosted its holdings 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 purchasing an additional 113 shares during the last quarter. 99.67% of the stock is 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.