TransMedics Group (NASDAQ:TMDX) Shares Gap Down Following Analyst Downgrade

TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report) gapped down prior to trading on Monday after TD Cowen lowered their price target on the stock from $175.00 to $120.00. The stock had previously closed at $80.48, but opened at $78.21. TD Cowen currently has a buy rating on the stock. TransMedics Group shares last traded at $77.38, with a volume of 414,458 shares trading hands.

TMDX has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their price objective on shares of TransMedics Group from $173.00 to $116.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Piper Sandler reissued an "overweight" rating and set a $180.00 price target on shares of TransMedics Group in a research report on Tuesday, October 29th. Stephens raised their price objective on shares of TransMedics Group from $151.00 to $178.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Canaccord Genuity Group decreased their price objective on shares of TransMedics Group from $169.00 to $109.00 and set a "buy" rating for the company in a report on Tuesday, October 29th. Finally, Oppenheimer decreased their price objective on shares of TransMedics Group from $200.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, October 29th. One 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 data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $139.30.

Insider Activity at TransMedics Group

In related news, Director Edward M. Basile sold 6,750 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $83.55, for a total transaction of $563,962.50. Following the completion of the transaction, the director now owns 732 shares of the company's stock, valued at approximately $61,158.60. The trade was a 90.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Waleed H. Hassanein sold 8,625 shares of the business's stock in a transaction that occurred on Monday, September 16th. The shares were 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 represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,958 shares of company stock valued at $5,230,528. Corporate insiders own 7.00% of the company's stock.

Institutional Investors Weigh In On TransMedics Group

Hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new stake in TransMedics Group during the third quarter valued at approximately $2,560,000. Vaughan Nelson Investment Management L.P. lifted its position in TransMedics Group by 24.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 329,010 shares of the company's stock valued at $51,654,000 after purchasing an additional 64,360 shares during the last quarter. WCM Investment Management LLC bought a new stake in TransMedics Group during the third quarter valued at approximately $8,720,000. Allspring Global Investments Holdings LLC lifted its position in TransMedics Group by 5.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 599,116 shares of the company's stock valued at $94,061,000 after purchasing an additional 30,092 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new stake in TransMedics Group during the second quarter valued at approximately $1,400,000. 99.67% of the stock is currently owned by institutional investors.

TransMedics Group Trading Up 0.6 %

The firm has a market capitalization of $2.72 billion, a P/E ratio of 85.88 and a beta of 2.08. 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 firm's 50-day simple moving average is $125.63 and its 200-day simple moving average is $139.55.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $108.76 million during the quarter, compared to the consensus estimate of $115.00 million. TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The company's revenue was up 63.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. Analysts anticipate that TransMedics Group, Inc. will post 1.07 EPS for the current year.

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.