TransMedics Group (NASDAQ:TMDX) Trading Down 4.1% – Here’s Why

TransMedics Group, Inc. (NASDAQ:TMDX)’s stock price was down 4.1% during mid-day trading on Friday . The stock traded as low as $82.50 and last traded at $81.5290. Approximately 68,225 shares were traded during trading, a decline of 93% from the average session volume of 1,027,063 shares. The stock had previously closed at $85.04.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TMDX. Piper Sandler reiterated an “overweight” rating and issued a $100.00 price target (down from $120.00) on shares of TransMedics Group in a report on Wednesday, August 5th. TD Cowen reiterated a “buy” rating and issued a $120.00 target price on shares of TransMedics Group in a research note on Tuesday. UBS Group decreased their target price on TransMedics Group from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Zacks Research lowered shares of TransMedics Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $124.00 price target on shares of TransMedics Group in a report on Tuesday, June 30th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, TransMedics Group currently has an average rating of “Hold” and a consensus target price of $124.18.

TransMedics Group Price Performance

The company has a current ratio of 6.62, a quick ratio of 6.07 and a debt-to-equity ratio of 1.62. The firm’s 50-day moving average price is $81.73 and its two-hundred day moving average price is $90.63. The stock has a market cap of $2.79 billion, a PE ratio of 20.73 and a beta of 1.90.

TransMedics Group (NASDAQ:TMDX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). The business had revenue of $189.95 million during the quarter, compared to the consensus estimate of $184.00 million. TransMedics Group had a return on equity of 15.88% and a net margin of 22.69%.The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the firm earned $0.92 EPS. On average, equities analysts expect 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 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 company insiders.

Institutional Trading of TransMedics Group

A number of institutional investors have recently modified their holdings of TMDX. California State Teachers Retirement System boosted its stake in TransMedics Group by 6,894.8% in the second quarter. California State Teachers Retirement System now owns 2,646,837 shares of the company’s stock valued at $175,803,000 after acquiring an additional 2,608,997 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of TransMedics Group by 11.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,069,492 shares of the company’s stock worth $119,997,000 after purchasing an additional 113,817 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of TransMedics Group by 50.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 965,931 shares of the company’s stock valued at $117,506,000 after purchasing an additional 322,353 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of TransMedics Group by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 816,474 shares of the company’s stock worth $99,339,000 after purchasing an additional 2,903 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of TransMedics Group by 54.2% in the 3rd quarter. Two Sigma Investments LP now owns 635,394 shares of the company’s stock worth $71,291,000 after purchasing an additional 223,409 shares in the last quarter. 99.67% of the stock is currently owned by 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.