TransMedics Group (NASDAQ:TMDX) Stock Price Down 4.3% – Here’s Why

TransMedics Group, Inc. (NASDAQ:TMDX)’s stock price traded down 4.3% during trading on Thursday . The stock traded as low as $58.90 and last traded at $59.29. 310,211 shares were traded during trading, a decline of 91% from the average session volume of 3,289,978 shares. The stock had previously closed at $61.97.

Wall Street Analyst Weigh In

TMDX has been the subject of several recent analyst reports. Oppenheimer reissued an “outperform” rating and set a $125.00 price objective on shares of TransMedics Group in a report on Tuesday, December 3rd. Robert W. Baird dropped their price target on shares of TransMedics Group from $150.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. TD Cowen cut their price target on TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a report on Monday, November 18th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $75.00 price objective (down from $116.00) on shares of TransMedics Group in a report on Tuesday, December 17th. Finally, Canaccord Genuity Group lowered their price target on shares of TransMedics Group from $109.00 to $104.00 and set a “buy” rating for the company in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, TransMedics Group presently has an average rating of “Moderate Buy” and a consensus price target of $122.70.

TransMedics Group Stock Performance

The company has a quick ratio of 7.33, a current ratio of 8.20 and a debt-to-equity ratio of 2.42. The company’s 50 day moving average is $69.56 and its 200-day moving average is $115.95. The firm has a market capitalization of $2.07 billion, a P/E ratio of 65.78 and a beta of 2.12.

TransMedics Group (NASDAQ:TMDX) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.12 earnings per share (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 analyst estimates of $115.00 million. During the same period in the previous year, the business posted ($0.12) EPS. The business’s revenue for the quarter was up 63.7% compared to the same quarter last year. As a group, equities analysts anticipate that TransMedics Group, Inc. will post 1 EPS for the current year.

Insider Activity at TransMedics Group

In related news, Director Edward M. Basile sold 6,750 shares of TransMedics Group stock in a transaction on Tuesday, November 5th. The stock was 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 of the company’s stock, valued at approximately $61,158.60. This trade represents a 90.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tamer I. Khayal sold 1,084 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.40, for a total transaction of $93,657.60. Following the completion of the transaction, the insider now directly owns 20,843 shares in the company, valued at $1,800,835.20. The trade was a 4.94 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.

Institutional Investors Weigh In On TransMedics Group

A number of hedge funds and other institutional investors have recently modified their holdings of TMDX. USA Financial Formulas purchased a new position in TransMedics Group during the third quarter valued at $55,000. Quarry LP grew its stake in shares of TransMedics Group by 557.1% in the third quarter. Quarry LP now owns 368 shares of the company’s stock worth $58,000 after acquiring an additional 312 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of TransMedics Group by 174.7% during the third quarter. National Bank of Canada FI now owns 412 shares of the company’s stock valued at $65,000 after acquiring an additional 262 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of TransMedics Group by 187.0% during the third quarter. Farther Finance Advisors LLC now owns 485 shares of the company’s stock valued at $76,000 after acquiring an additional 316 shares in the last quarter. Finally, Sachetta LLC bought a new position in TransMedics Group in the 4th quarter worth about $40,000. Institutional investors own 99.67% of the company’s stock.

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.