TransMedics Group (NASDAQ:TMDX) Shares Gap Down Following Analyst Downgrade

TransMedics Group, Inc. (NASDAQ:TMDX) gapped down prior to trading on Monday after TD Cowen lowered their price target on the stock from $175.00 to $120.00. The stock had previously closed at $80.48, but opened at $78.21. TD Cowen currently has a buy rating on the stock. TransMedics Group shares last traded at $77.38, with a volume of 414,458 shares changing hands.

Several other equities research analysts have also recently commented on the stock. Needham & Company LLC dropped their target price on shares of TransMedics Group from $208.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Baird R W raised TransMedics Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Oppenheimer decreased their price objective on shares of TransMedics Group from $200.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Piper Sandler reissued an “overweight” rating and issued a $180.00 target price on shares of TransMedics Group in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, TransMedics Group currently has a consensus rating of “Buy” and an average price target of $139.30.

Insider Buying and Selling

In other TransMedics Group news, insider Nicholas Corcoran sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $176.02, for a total transaction of $1,760,200.00. Following the completion of the sale, the insider now owns 21,105 shares of the company’s stock, valued at $3,714,902.10. This trade represents a 32.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward M. Basile sold 6,750 shares of the business’s stock in a transaction that occurred 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 directly owns 732 shares in the company, valued at $61,158.60. This trade represents 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 valued at $5,230,528 over the last 90 days. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On TransMedics Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMDX. International Assets Investment Management LLC acquired a new stake in shares of TransMedics Group during the second quarter worth about $47,000. USA Financial Formulas purchased a new stake in shares of TransMedics Group during the third quarter worth approximately $55,000. Quarry LP boosted its holdings in shares of TransMedics Group by 557.1% in the third quarter. Quarry LP now owns 368 shares of the company’s stock valued at $58,000 after acquiring an additional 312 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of TransMedics Group by 174.7% in the 3rd quarter. National Bank of Canada FI now owns 412 shares of the company’s stock valued at $65,000 after purchasing an additional 262 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its stake in shares of TransMedics Group by 649.2% in the second quarter. J.Safra Asset Management Corp now owns 442 shares of the company’s stock valued at $67,000 after purchasing an additional 383 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

TransMedics Group Stock Performance

The company has a debt-to-equity ratio of 2.42, a quick ratio of 7.33 and a current ratio of 8.20. The stock’s 50-day moving average price is $124.47 and its 200-day moving average price is $139.25. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 84.04 and a beta of 2.08.

TransMedics Group (NASDAQ:TMDX) last issued its quarterly earnings results 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 return on equity of 18.74% and a net margin of 8.14%. The company had revenue of $108.76 million for the quarter, compared to analyst estimates of $115.00 million. During the same period last year, the company posted ($0.12) EPS. The business’s revenue for the quarter was up 63.7% on a year-over-year basis. As a group, equities research analysts expect that TransMedics Group, Inc. will post 1.07 earnings per share for the current year.

About TransMedics Group

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.