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

TransMedics Group, Inc. (NASDAQ:TMDX) shares 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 trading hands.

A number of other brokerages have also issued reports on TMDX. Piper Sandler reiterated an “overweight” rating and set a $180.00 price target on shares of TransMedics Group in a research report on Tuesday, October 29th. Robert W. Baird reduced their price objective on shares of TransMedics Group from $200.00 to $150.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Stephens raised their target price on shares of TransMedics Group from $151.00 to $178.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Oppenheimer reduced their price target on shares of TransMedics Group from $200.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. One 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’s stock. Based on data from MarketBeat.com, TransMedics Group has a consensus rating of “Buy” and an average price target of $139.30.

Insider Buying and Selling

In other TransMedics Group news, insider Nicholas Corcoran sold 10,000 shares of TransMedics Group stock in a transaction on 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 completion of the sale, the insider now owns 21,105 shares of the company’s stock, valued at $3,714,902.10. This trade represents a 32.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Waleed H. Hassanein sold 8,625 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $153.42, for a total value of $1,323,247.50. Following the completion of the transaction, the chief executive officer now owns 61,643 shares in the company, valued at $9,457,269.06. This represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,958 shares of company stock valued at $5,230,528. Company insiders own 7.00% of the company’s stock.

Institutional Trading of TransMedics Group

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in TransMedics Group in the 2nd quarter worth $47,000. USA Financial Formulas acquired a new stake in shares of TransMedics Group during the third quarter worth approximately $55,000. Quarry LP raised its position in TransMedics Group by 557.1% in the 3rd quarter. Quarry LP now owns 368 shares of the company’s stock valued at $58,000 after purchasing an additional 312 shares during the last quarter. National Bank of Canada FI lifted its position in TransMedics Group by 174.7% during the 3rd quarter. National Bank of Canada FI now owns 412 shares of the company’s stock worth $65,000 after buying an additional 262 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its position in shares of TransMedics Group by 649.2% during the second quarter. J.Safra Asset Management Corp now owns 442 shares of the company’s stock worth $67,000 after purchasing an additional 383 shares in the last quarter. 99.67% of the stock is owned by institutional investors.

TransMedics Group Stock Performance

The firm has a fifty day simple moving average of $125.63 and a 200-day simple moving average of $139.55. 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 cap of $2.72 billion, a price-to-earnings ratio of 85.88 and a beta of 2.08.

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

TransMedics Group Company Profile

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.