TransMedics Group (NASDAQ:TMDX) Shares Up 11.9% – Here’s What Happened

Shares of TransMedics Group, Inc. (NASDAQ:TMDX) traded up 11.9% during trading on Tuesday . The company traded as high as $149.27 and last traded at $150.6250. 453,436 shares were traded during mid-day trading, a decline of 17% from the average session volume of 549,156 shares. The stock had previously closed at $134.66.

Analysts Set New Price Targets

TMDX has been the topic of several recent research reports. Morgan Stanley raised their target price on shares of TransMedics Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. Zacks Research cut shares of TransMedics Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of TransMedics Group in a research report on Wednesday, October 8th. Needham & Company LLC increased their price target on TransMedics Group from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of TransMedics Group in a research note on Monday, December 22nd. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $144.25.

TransMedics Group Trading Up 6.2%

The company has a quick ratio of 7.13, a current ratio of 7.69 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $4.89 billion, a P/E ratio of 58.00 and a beta of 2.03. The company has a fifty day simple moving average of $129.25 and a two-hundred day simple moving average of $122.21.

TransMedics Group (NASDAQ:TMDX) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.29. TransMedics Group had a return on equity of 31.42% and a net margin of 16.20%.The company had revenue of $143.82 million for the quarter, compared to analyst estimates of $145.33 million. During the same quarter last year, the firm posted $0.12 earnings per share. TransMedics Group’s revenue was up 32.2% compared to the same quarter last year. On average, sell-side analysts expect that TransMedics Group, Inc. will post 1 earnings per share for the current year.

Insider Activity at TransMedics Group

In other news, CFO Gerardo Hernandez sold 920 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $139.62, for a total transaction of $128,450.40. Following the completion of the sale, the chief financial officer owned 15,064 shares of the company’s stock, valued at $2,103,235.68. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Weill sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $138.64, for a total transaction of $693,200.00. Following the sale, the director owned 12,134 shares in the company, valued at approximately $1,682,257.76. The trade was a 29.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,062 shares of company stock worth $1,797,634 over the last ninety days. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TransMedics Group

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in TransMedics Group by 0.3% during the third quarter. Vanguard Group Inc. now owns 3,605,607 shares of the company’s stock valued at $404,549,000 after purchasing an additional 9,650 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of TransMedics Group by 11.9% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,069,492 shares of the company’s stock worth $119,997,000 after purchasing an additional 113,817 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of TransMedics Group by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 804,650 shares of the company’s stock worth $107,845,000 after purchasing an additional 11,241 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of TransMedics Group by 54.2% in the 3rd quarter. Two Sigma Investments LP now owns 635,394 shares of the company’s stock valued at $71,291,000 after buying an additional 223,409 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of TransMedics Group by 258.7% in the second quarter. Marshall Wace LLP now owns 546,787 shares of the company’s stock valued at $73,275,000 after buying an additional 394,340 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

TransMedics Group Company Profile

TransMedics Group, Inc is a medical device company headquartered in Andover, Massachusetts, that specializes in advanced organ preservation and transport systems for transplantation. The company’s flagship technology, the Organ Care System (OCS), maintains donor organs in a near-physiologic, warm, beating state during transportation, with the aim of extending preservation times and improving post‐transplant outcomes. TransMedics’ solutions address a critical need in transplantation by reducing ischemic injury and expanding the donor organ pool.

TransMedics currently markets two commercially available OCS platforms.