TransMedics Group (NASDAQ:TMDX) Shares Down 9% - Here's Why

TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report)'s share price traded down 9% during mid-day trading on Friday . The stock traded as low as $80.38 and last traded at $80.38. 1,600,575 shares were traded during trading, an increase of 66% from the average session volume of 966,487 shares. The stock had previously closed at $88.36.

Wall Street Analyst Weigh In

TMDX has been the topic of several recent analyst reports. Baird R W raised TransMedics Group to a "strong-buy" rating in a report on Tuesday, September 24th. Canaccord Genuity Group decreased their target price on TransMedics Group from $169.00 to $109.00 and set a "buy" rating for the company in a research note on Tuesday, October 29th. Robert W. Baird dropped their price target on shares of TransMedics Group from $200.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 29th. Stephens raised their price objective on TransMedics Group from $151.00 to $178.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Finally, Needham & Company LLC cut their price target on TransMedics Group from $208.00 to $109.00 and set a "buy" rating on the stock in a research report on Tuesday, October 29th. One equities research 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 stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $144.80.

TransMedics Group Price Performance

The company has a 50-day moving average of $126.82 and a 200-day moving average of $139.20. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 89.34 and a beta of 2.08. The company has a debt-to-equity ratio of 2.42, a quick ratio of 7.33 and a current ratio of 8.20.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.17). The company had revenue of $108.76 million during the quarter, compared to analyst estimates of $115.00 million. TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The business's revenue was up 63.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) earnings per share. As a group, equities research analysts expect that TransMedics Group, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Transactions at TransMedics Group

In related news, Director Edward M. Basile sold 6,750 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.55, for a total transaction of $563,962.50. Following the transaction, the director now directly owns 732 shares in the company, valued at approximately $61,158.60. This represents a 90.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Waleed H. Hassanein sold 8,625 shares of TransMedics Group stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $132.71, for a total value of $1,144,623.75. Following the completion of the sale, the chief executive officer now owns 61,643 shares of the company's stock, valued at $8,180,642.53. This trade represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,958 shares of company stock worth $5,230,528 over the last ninety days. 7.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TransMedics Group

A number of institutional investors have recently added to or reduced their stakes in TMDX. Vanguard Group Inc. grew its stake in shares of TransMedics Group by 1.3% in the first quarter. Vanguard Group Inc. now owns 1,889,094 shares of the company's stock valued at $139,680,000 after buying an additional 23,979 shares in the last quarter. Driehaus Capital Management LLC grew its position in shares of TransMedics Group by 15.8% during the second quarter. Driehaus Capital Management LLC now owns 1,486,073 shares of the company's stock worth $223,832,000 after acquiring an additional 202,867 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in TransMedics Group by 5.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 599,116 shares of the company's stock worth $94,061,000 after buying an additional 30,092 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in TransMedics Group by 24.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 329,010 shares of the company's stock valued at $51,654,000 after acquiring an additional 64,360 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of TransMedics Group by 8.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 297,324 shares of the company's stock worth $21,985,000 after purchasing an additional 22,223 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

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.

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