TransMedics Group (NASDAQ:TMDX) Shares Down 3.8% - Here's What Happened

TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report) was down 3.8% on Thursday . The company traded as low as $61.37 and last traded at $61.50. Approximately 93,896 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 1,048,580 shares. The stock had previously closed at $63.90.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TMDX shares. TD Cowen dropped their target price on TransMedics Group from $175.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, November 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of TransMedics Group in a research report on Wednesday, December 11th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $75.00 price objective (down from $116.00) on shares of TransMedics Group in a research report on Tuesday, December 17th. Baird R W raised shares of TransMedics Group to a "strong-buy" rating in a report on Tuesday, September 24th. Finally, Oppenheimer reissued an "outperform" rating and issued a $125.00 price target on shares of TransMedics Group in a report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $122.70.

TransMedics Group Price Performance

The company has a debt-to-equity ratio of 2.42, a current ratio of 8.20 and a quick ratio of 7.33. The firm has a market cap of $2.10 billion, a P/E ratio of 66.60 and a beta of 2.06. The company's 50-day moving average is $84.31 and its two-hundred day moving average is $127.28.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last issued its 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). 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 prior year, the business posted ($0.12) EPS. The company's revenue for the quarter was up 63.7% compared to the same quarter last year. Sell-side analysts anticipate that TransMedics Group, Inc. will post 1 EPS for the current fiscal year.

Insider Activity

In other TransMedics Group news, Director Edward M. Basile sold 6,750 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.55, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Waleed H. Hassanein sold 8,625 shares of TransMedics Group stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $132.71, for a total transaction of $1,144,623.75. Following the transaction, the chief executive officer now directly owns 61,643 shares in the company, valued at $8,180,642.53. This represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,417 shares of company stock worth $2,240,738. Corporate insiders own 7.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in TransMedics Group by 260.1% during the third quarter. Principal Financial Group Inc. now owns 202,287 shares of the company's stock valued at $31,759,000 after purchasing an additional 146,115 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in TransMedics Group in the third quarter worth $149,000. Sanctuary Advisors LLC grew its position in TransMedics Group by 63.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 4,041 shares of the company's stock worth $634,000 after acquiring an additional 1,568 shares during the last quarter. Morse Asset Management Inc bought a new stake in TransMedics Group in the third quarter valued at approximately $823,000. Finally, Virtu Financial LLC purchased a new stake in shares of TransMedics Group during the third quarter worth about $436,000. 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.