State of New Jersey Common Pension Fund D Cuts Stock Position in TransMedics Group, Inc. (NASDAQ:TMDX)

State of New Jersey Common Pension Fund D trimmed its stake in shares of TransMedics Group, Inc. (NASDAQ:TMDX) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,929 shares of the company’s stock after selling 141 shares during the period. State of New Jersey Common Pension Fund D’s holdings in TransMedics Group were worth $2,030,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in TransMedics Group during the 2nd quarter worth $47,000. USA Financial Formulas acquired a new position in TransMedics Group during the third quarter worth about $55,000. J.Safra Asset Management Corp grew its stake in TransMedics Group by 649.2% during the 2nd quarter. J.Safra Asset Management Corp now owns 442 shares of the company’s stock valued at $67,000 after acquiring an additional 383 shares in the last quarter. Signaturefd LLC raised its holdings in TransMedics Group by 26.6% in the 2nd quarter. Signaturefd LLC now owns 443 shares of the company’s stock valued at $67,000 after acquiring an additional 93 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of TransMedics Group by 187.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 485 shares of the company’s stock worth $76,000 after purchasing an additional 316 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Insiders Place Their Bets

In other TransMedics Group news, insider Nicholas Corcoran sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $176.02, for a total transaction of $1,760,200.00. Following the completion of the transaction, the insider now owns 21,105 shares in the company, valued at $3,714,902.10. The trade was a 32.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward M. Basile sold 6,750 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.55, for a total transaction of $563,962.50. Following the completion of the sale, the director now owns 732 shares in the company, valued at $61,158.60. The trade was a 90.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,958 shares of company stock worth $5,230,528 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

TransMedics Group Price Performance

TMDX opened at $80.48 on Friday. The stock’s 50-day moving average price is $125.63 and its 200 day moving average price is $139.09. TransMedics Group, Inc. has a 12-month low of $63.85 and a 12-month high of $177.37. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 85.62 and a beta of 2.08. The company has a current ratio of 8.20, a quick ratio of 7.33 and a debt-to-equity ratio of 2.42.

TransMedics Group (NASDAQ:TMDX) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.17). TransMedics Group had a net margin of 8.14% and a return on equity of 18.74%. The business had revenue of $108.76 million during the quarter, compared to analysts’ expectations of $115.00 million. During the same period in the previous year, the business posted ($0.12) EPS. The company’s revenue for the quarter was up 63.7% compared to the same quarter last year. As a group, sell-side analysts expect that TransMedics Group, Inc. will post 1.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TMDX shares. Piper Sandler reiterated an “overweight” rating and set a $180.00 price objective on shares of TransMedics Group in a research report on Tuesday, October 29th. Robert W. Baird dropped their price objective on shares of TransMedics Group from $200.00 to $150.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. reduced their target price on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Canaccord Genuity Group dropped their price target on shares of TransMedics Group from $169.00 to $109.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, Stephens upped their price objective on TransMedics Group from $151.00 to $178.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TransMedics Group presently has a consensus rating of “Buy” and an average target price of $144.80.

TransMedics Group Profile

TransMedics Group, Inc, a commercial-stage medical technology company, engages in transforming organ transplant therapy for end-stage organ failure patients in the United States and internationally. The company offers Organ Care System (OCS), a portable organ perfusion, optimization, and monitoring system that utilizes its proprietary and customized technology to replicate near-physiologic conditions for donor organs outside of the human body.