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

TransMedics Group, Inc. (NASDAQ:TMDX)’s stock price gapped down before the market opened 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.

TMDX has been the subject of several other research reports. Baird R W raised shares of TransMedics Group to a “strong-buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. reduced their price target on TransMedics Group from $173.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Piper Sandler reissued an “overweight” rating and issued a $180.00 price target on shares of TransMedics Group in a research note on Tuesday, October 29th. Stephens raised their price target 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. Finally, Needham & Company LLC cut their price objective on shares of TransMedics Group from $208.00 to $109.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $139.30.

Insider Buying and Selling at TransMedics Group

In other news, insider Nicholas Corcoran sold 10,000 shares of TransMedics Group stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $176.02, for a total transaction of $1,760,200.00. Following the sale, the insider now owns 21,105 shares of the company’s stock, valued at approximately $3,714,902.10. The trade was a 32.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward M. Basile sold 6,750 shares of the stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 36,958 shares of company stock valued at $5,230,528 in the last 90 days. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TMDX. Vanguard Group Inc. lifted its stake in TransMedics Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,889,094 shares of the company’s stock valued at $139,680,000 after acquiring an additional 23,979 shares during the period. Driehaus Capital Management LLC lifted its position in TransMedics Group by 15.8% during the second quarter. Driehaus Capital Management LLC now owns 1,486,073 shares of the company’s stock valued at $223,832,000 after purchasing an additional 202,867 shares during the period. Geode Capital Management LLC grew its position in TransMedics Group by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 763,790 shares of the company’s stock worth $119,938,000 after purchasing an additional 10,106 shares during the period. Allspring Global Investments Holdings LLC raised its stake in TransMedics Group by 5.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 599,116 shares of the company’s stock valued at $94,061,000 after buying an additional 30,092 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of TransMedics Group by 24.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 329,010 shares of the company’s stock valued at $51,654,000 after buying an additional 64,360 shares during the period. 99.67% of the stock is owned by institutional investors.

TransMedics Group Trading Down 0.6 %

The company has a current ratio of 8.20, a quick ratio of 7.33 and a debt-to-equity ratio of 2.42. The stock has a market capitalization of $2.68 billion, a PE ratio of 85.88 and a beta of 2.08. The stock has a 50 day moving average price of $125.63 and a 200-day moving average price of $139.55.

TransMedics Group (NASDAQ:TMDX) last released its earnings results on Monday, October 28th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.17). TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The firm had revenue of $108.76 million for the quarter, compared to the consensus estimate of $115.00 million. During the same quarter in the previous year, the business posted ($0.12) EPS. TransMedics Group’s revenue was up 63.7% on a year-over-year basis. Sell-side analysts expect that TransMedics Group, Inc. will post 1.07 earnings per share 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.