TransMedics Group (NASDAQ:TMDX) Releases Earnings Results, Misses Expectations By $0.06 EPS

TransMedics Group (NASDAQ:TMDX) released its earnings results on Tuesday. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06), FiscalAI reports. TransMedics Group had a net margin of 27.04% and a return on equity of 22.38%. The business had revenue of $189.95 million during the quarter, compared to analysts’ expectations of $184.00 million.

TransMedics Group Stock Down 1.0%

NASDAQ:TMDX traded down $0.80 during mid-day trading on Tuesday, reaching $80.75. The stock had a trading volume of 1,392,718 shares, compared to its average volume of 1,074,615. The business’s 50 day moving average is $72.81 and its 200 day moving average is $100.15. TransMedics Group has a fifty-two week low of $60.10 and a fifty-two week high of $156.00. The stock has a market cap of $2.79 billion, a P/E ratio of 18.35 and a beta of 1.90. The company has a debt-to-equity ratio of 1.70, a current ratio of 6.74 and a quick ratio of 6.19.

Analyst Upgrades and Downgrades

TMDX has been the topic of several recent analyst reports. Stifel Nicolaus upped their price target on TransMedics Group from $75.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, June 18th. UBS Group initiated coverage on TransMedics Group in a research note on Tuesday, July 28th. They set a “neutral” rating and a $80.00 target price on the stock. Wall Street Zen downgraded TransMedics Group from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Oppenheimer lowered shares of TransMedics Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings cut shares of TransMedics Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $126.27.

Insiders Place Their Bets

In other TransMedics Group news, Director Thomas J. Gunderson sold 9,624 shares of TransMedics Group stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $75.06, for a total value of $722,377.44. Following the completion of the sale, the director directly owned 16,642 shares in the company, valued at $1,249,148.52. The trade was a 36.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TMDX. Harvest Fund Management Co. Ltd acquired a new stake in shares of TransMedics Group in the 3rd quarter valued at $29,000. Allworth Financial LP raised its holdings in TransMedics Group by 74.3% during the third quarter. Allworth Financial LP now owns 265 shares of the company’s stock valued at $30,000 after buying an additional 113 shares in the last quarter. Parallel Advisors LLC raised its holdings in TransMedics Group by 42.1% during the fourth quarter. Parallel Advisors LLC now owns 280 shares of the company’s stock valued at $34,000 after buying an additional 83 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of TransMedics Group by 72.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the company’s stock worth $65,000 after buying an additional 203 shares during the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of TransMedics Group in the fourth quarter worth about $61,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

About TransMedics Group

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.