TransMedics Group (NASDAQ:TMDX) Trading Up 6.3% – Here’s What Happened

Shares of TransMedics Group, Inc. (NASDAQ:TMDX) rose 6.3% on Monday . The stock traded as high as $74.72 and last traded at $75.7490. Approximately 120,398 shares were traded during trading, a decline of 89% from the average daily volume of 1,089,183 shares. The stock had previously closed at $71.23.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on TransMedics Group from $75.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday, June 18th. Wall Street Zen lowered shares of TransMedics Group from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research cut shares of TransMedics Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Oppenheimer cut shares of TransMedics Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 6th. Finally, UBS Group reiterated a “hold” rating on shares of TransMedics Group in a report on Tuesday, May 26th. Six equities 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, the stock has a consensus rating of “Hold” and an average target price of $134.50.

TransMedics Group Stock Down 1.5%

The company has a current ratio of 6.74, a quick ratio of 6.19 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 16.95 and a beta of 1.89. The stock has a fifty day moving average of $70.61 and a 200-day moving average of $105.50.

TransMedics Group (NASDAQ:TMDX) last announced its 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). TransMedics Group had a return on equity of 22.38% and a net margin of 27.04%.The company had revenue of $173.93 million for the quarter, compared to analyst estimates of $174.44 million. During the same period last year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. As a group, sell-side analysts expect that TransMedics Group, Inc. will post 1.92 EPS for the current year.

Insiders Place Their Bets

In other TransMedics Group news, Director Thomas J. Gunderson sold 9,624 shares of the business’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 in the company, valued at approximately $1,249,148.52. The trade was a 36.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TMDX. Goldman Sachs Group Inc. boosted its holdings in shares of TransMedics Group by 50.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 965,931 shares of the company’s stock worth $117,506,000 after purchasing an additional 322,353 shares during the period. Two Sigma Investments LP increased its stake in TransMedics Group by 54.2% in the 3rd quarter. Two Sigma Investments LP now owns 635,394 shares of the company’s stock valued at $71,291,000 after buying an additional 223,409 shares during the period. Wellington Management Group LLP increased its stake in TransMedics Group by 100.5% in the 4th quarter. Wellington Management Group LLP now owns 433,321 shares of the company’s stock valued at $52,713,000 after buying an additional 217,180 shares during the period. Price T Rowe Associates Inc. MD increased its stake in TransMedics Group by 43.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 569,970 shares of the company’s stock valued at $69,338,000 after buying an additional 171,810 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in TransMedics Group by 11.9% in the 3rd 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 buying an additional 113,817 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.