TransMedics Group (NASDAQ:TMDX) Announces Earnings Results

TransMedics Group (NASDAQ:TMDX - Get Free Report) released its quarterly earnings results on Monday. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.17), Briefing.com reports. TransMedics Group had a net margin of 0.84% and a return on equity of 15.98%. The company had revenue of $108.76 million during the quarter, compared to analyst estimates of $115.00 million. During the same quarter last year, the company earned ($0.12) EPS. The firm's quarterly revenue was up 63.7% compared to the same quarter last year. TransMedics Group updated its FY 2024 guidance to EPS.

TransMedics Group Price Performance

Shares of TMDX opened at $88.50 on Wednesday. The company's 50-day moving average is $146.02 and its 200-day moving average is $140.16. The company has a debt-to-equity ratio of 2.67, a current ratio of 9.37 and a quick ratio of 8.48. The firm has a market capitalization of $2.95 billion, a PE ratio of 94.15 and a beta of 1.99. TransMedics Group has a fifty-two week low of $36.42 and a fifty-two week high of $177.37.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of TransMedics Group from $104.00 to $145.00 and gave the stock an "equal weight" rating in a report on Monday, July 15th. Baird R W upgraded shares of TransMedics Group to a "strong-buy" rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lowered their target price on TransMedics Group from $173.00 to $116.00 and set an "overweight" rating on the stock in a research report on Tuesday. Robert W. Baird reduced their price target on TransMedics Group from $200.00 to $150.00 and set an "outperform" rating for the company in a research report on Tuesday. Finally, Stephens boosted their price target on TransMedics Group from $151.00 to $178.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $144.80.

Insider Activity at TransMedics Group

In other TransMedics Group news, insider Tamer I. Khayal sold 2,958 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $156.77, for a total transaction of $463,725.66. Following the completion of the sale, the insider now directly owns 20,843 shares in the company, valued at $3,267,557.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Tamer I. Khayal sold 2,958 shares of TransMedics Group stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $156.77, for a total transaction of $463,725.66. Following the completion of the sale, the insider now owns 20,843 shares of the company's stock, valued at approximately $3,267,557.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Corcoran sold 10,000 shares of the company's stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,205 shares of company stock worth $9,981,907. Insiders own 7.00% 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.