TransMedics Group, Inc. (NASDAQ:TMDX – Get Rating) shares gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $41.58, but opened at $39.15. TransMedics Group shares last traded at $38.75, with a volume of 3,806 shares.
The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.09). TransMedics Group had a negative return on equity of 63.47% and a negative net margin of 119.88%. During the same period in the previous year, the business posted ($0.39) earnings per share.
Wall Street Analysts Forecast Growth
TMDX has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of TransMedics Group from $25.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, June 29th. Oppenheimer raised their price target on shares of TransMedics Group from $40.00 to $45.00 in a report on Tuesday. JPMorgan Chase & Co. raised shares of TransMedics Group from a “neutral” rating to an “overweight” rating and set a $48.00 price target on the stock in a report on Tuesday. Cowen raised their price target on shares of TransMedics Group from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, July 26th. Finally, Cowen raised their price target on shares of TransMedics Group from $45.00 to $50.00 in a report on Tuesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.86.
Insider Activity
In related news, Director James R. Tobin sold 48,516 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $29.94, for a total value of $1,452,569.04. Following the sale, the director now owns 350,621 shares in the company, valued at $10,497,592.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director James R. Tobin sold 48,515 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $35.00, for a total value of $1,698,025.00. Following the completion of the sale, the director now directly owns 302,106 shares of the company’s stock, valued at $10,573,710. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James R. Tobin sold 48,516 shares of the business’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $29.94, for a total transaction of $1,452,569.04. Following the completion of the transaction, the director now owns 350,621 shares of the company’s stock, valued at $10,497,592.74. The disclosure for this sale can be found here. Insiders have sold a total of 201,830 shares of company stock worth $7,123,870 over the last quarter. Insiders own 8.70% of the company’s stock.
Hedge Funds Weigh In On TransMedics Group
Large investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in TransMedics Group in the second quarter worth about $31,000. Amalgamated Bank acquired a new position in shares of TransMedics Group during the first quarter valued at about $114,000. Ensign Peak Advisors Inc acquired a new position in shares of TransMedics Group during the fourth quarter valued at about $97,000. Allspring Global Investments Holdings LLC acquired a new position in shares of TransMedics Group during the fourth quarter valued at about $99,000. Finally, Captrust Financial Advisors increased its holdings in shares of TransMedics Group by 738.8% during the first quarter. Captrust Financial Advisors now owns 5,788 shares of the company’s stock valued at $156,000 after acquiring an additional 5,098 shares in the last quarter. 71.75% of the stock is currently owned by institutional investors.
TransMedics Group Trading Down 9.3 %
The company’s fifty day moving average is $31.30 and its two-hundred day moving average is $24.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.40 and a current ratio of 5.22. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -22.19 and a beta of 1.63.
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.
