TransMedics Group (NASDAQ:TMDX) Hits New 1-Year Low – Here’s What Happened

TransMedics Group, Inc. (NASDAQ:TMDX)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $60.40 and last traded at $60.88, with a volume of 1588704 shares. The stock had previously closed at $65.71.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler dropped their target price on shares of TransMedics Group from $110.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Oppenheimer reaffirmed an “outperform” rating and set a $125.00 price objective on shares of TransMedics Group in a research report on Tuesday, December 3rd. TD Cowen decreased their target price on TransMedics Group from $175.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Baird R W raised TransMedics Group to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of TransMedics Group in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $122.70.

TransMedics Group Stock Up 1.9 %

The stock has a market capitalization of $2.07 billion, a P/E ratio of 65.64 and a beta of 2.06. The business has a 50-day simple moving average of $88.42 and a two-hundred day simple moving average of $128.82. The company has a quick ratio of 7.33, a current ratio of 8.20 and a debt-to-equity ratio of 2.42.

TransMedics Group (NASDAQ:TMDX) last posted its earnings results on Monday, October 28th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.17). The firm had revenue of $108.76 million during 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%. The firm’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) EPS. Equities research analysts forecast that TransMedics Group, Inc. will post 1 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Tamer I. Khayal sold 2,958 shares of TransMedics Group stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $148.24, for a total value of $438,493.92. Following the completion of the transaction, the insider now directly owns 20,843 shares of the company’s stock, valued at $3,089,766.32. The trade was a 12.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Waleed H. Hassanein sold 8,625 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $132.71, for a total transaction of $1,144,623.75. Following the sale, the chief executive officer now directly owns 61,643 shares in the company, valued at approximately $8,180,642.53. This represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,417 shares of company stock worth $2,240,738. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Raymond James & Associates raised its position in shares of TransMedics Group by 152.4% during the second quarter. Raymond James & Associates now owns 23,444 shares of the company’s stock worth $3,531,000 after acquiring an additional 14,156 shares during the last quarter. EFG Asset Management North America Corp. boosted its stake in shares of TransMedics Group by 12.4% in the 2nd quarter. EFG Asset Management North America Corp. now owns 21,196 shares of the company’s stock valued at $3,191,000 after purchasing an additional 2,343 shares during the last quarter. SlateStone Wealth LLC acquired a new stake in shares of TransMedics Group during the 2nd quarter worth approximately $856,000. HB Wealth Management LLC bought a new stake in shares of TransMedics Group during the second quarter worth approximately $318,000. Finally, F M Investments LLC acquired a new position in TransMedics Group in the second quarter valued at approximately $10,957,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

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.