TransMedics Group (NASDAQ:TMDX) Shares Gap Down After Earnings Miss

TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $126.24, but opened at $91.15. TransMedics Group shares last traded at $89.92, with a volume of 2,548,802 shares.

The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.16). The firm had revenue of $108.76 million during the quarter, compared to analyst estimates of $115.00 million. TransMedics Group had a net margin of 0.84% and a return on equity of 15.98%. The business's revenue for the quarter was up 63.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) earnings per share.

Wall Street Analysts Forecast Growth

Several research firms have commented on TMDX. Robert W. Baird cut their price objective on TransMedics Group from $200.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday. Baird R W raised shares of TransMedics Group to a "strong-buy" rating in a research report on Tuesday, September 24th. 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 report on Tuesday. Needham & Company LLC dropped their price target on shares of TransMedics Group from $208.00 to $109.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Morgan Stanley raised their target price on TransMedics Group from $104.00 to $145.00 and gave the company an "equal weight" rating in a research note on Monday, July 15th. 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 company's stock. Based on data from MarketBeat, TransMedics Group currently has a consensus rating of "Buy" and a consensus target price of $144.80.

Insiders Place Their Bets

In other TransMedics Group news, insider Tamer I. Khayal sold 2,958 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 20,843 shares of the company's stock, valued at $3,267,557.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Waleed H. Hassanein sold 8,625 shares of the firm's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $153.42, for a total transaction of $1,323,247.50. Following the transaction, the chief executive officer now directly owns 61,643 shares of the company's stock, valued at approximately $9,457,269.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tamer I. Khayal sold 2,958 shares of the company's stock in a transaction dated 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 directly owns 20,843 shares of the company's stock, valued at $3,267,557.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,205 shares of company stock valued at $9,981,907 over the last three months. Company insiders own 7.00% of the company's stock.

Institutional Trading of TransMedics Group

Institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. raised its holdings in TransMedics Group by 48.2% during the third quarter. Harbor Capital Advisors Inc. now owns 8,964 shares of the company's stock worth $1,407,000 after purchasing an additional 2,916 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of TransMedics Group by 187.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 485 shares of the company's stock worth $76,000 after buying an additional 316 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of TransMedics Group in the third quarter valued at $1,217,000. State of Alaska Department of Revenue bought a new position in TransMedics Group during the third quarter valued at about $2,560,000. Finally, Louisiana State Employees Retirement System bought a new position in TransMedics Group during the third quarter valued at about $2,528,000. 99.67% of the stock is owned by institutional investors and hedge funds.

TransMedics Group Trading Down 29.9 %

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 stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 94.15 and a beta of 1.99. The business has a fifty day moving average of $146.02 and a 200-day moving average of $140.16.

TransMedics Group Company 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.