TransMedics Group (NASDAQ:TMDX) Sees Strong Trading Volume – Here’s Why

TransMedics Group, Inc. (NASDAQ:TMDX) shares saw an uptick in trading volume on Thursday . 976,788 shares traded hands during mid-day trading, a decline of 8% from the previous session’s volume of 1,057,560 shares.The stock last traded at $66.92 and had previously closed at $62.35.

Analyst Ratings Changes

A number of analysts recently commented on TMDX shares. Canaccord Genuity Group decreased their price objective on TransMedics Group from $109.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday, November 20th. Oppenheimer reaffirmed an “outperform” rating and set a $125.00 price objective on shares of TransMedics Group in a research note on Tuesday, December 3rd. Piper Sandler dropped their price target on shares of TransMedics Group from $110.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $75.00 price target (down previously from $116.00) on shares of TransMedics Group in a research note on Tuesday, December 17th. Finally, Robert W. Baird lowered their price objective on shares of TransMedics Group from $150.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, TransMedics Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.70.

TransMedics Group Trading Up 3.9 %

The firm has a fifty day moving average of $75.83 and a 200 day moving average of $123.54. The firm has a market capitalization of $2.32 billion, a PE ratio of 73.50 and a beta of 2.06. The company has a debt-to-equity ratio of 2.42, a quick ratio of 7.33 and a current ratio of 8.20.

TransMedics Group (NASDAQ:TMDX) last posted its quarterly earnings data 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 firm had revenue of $108.76 million for the quarter, compared to analysts’ expectations of $115.00 million. TransMedics Group had a net margin of 8.14% and a return on equity of 18.74%. The company’s revenue for the quarter was up 63.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) EPS. Equities research analysts expect that TransMedics Group, Inc. will post 1 EPS for the current year.

Insiders Place Their Bets

In related news, insider Tamer I. Khayal sold 1,084 shares of TransMedics Group stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.40, for a total value of $93,657.60. Following the completion of the sale, the insider now owns 20,843 shares in the company, valued at approximately $1,800,835.20. The trade was a 4.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Waleed H. Hassanein sold 8,625 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $132.71, for a total transaction of $1,144,623.75. Following the transaction, the chief executive officer now owns 61,643 shares in the company, valued at $8,180,642.53. This trade represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,459 shares of company stock worth $1,802,244 in the last quarter. 7.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TransMedics Group

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in TransMedics Group in the second quarter valued at about $47,000. USA Financial Formulas bought a new stake in shares of TransMedics Group in the 3rd quarter valued at approximately $55,000. Quarry LP raised its position in shares of TransMedics Group by 557.1% during the 3rd quarter. Quarry LP now owns 368 shares of the company’s stock valued at $58,000 after acquiring an additional 312 shares in the last quarter. National Bank of Canada FI lifted its stake in TransMedics Group by 174.7% during the third quarter. National Bank of Canada FI now owns 412 shares of the company’s stock worth $65,000 after purchasing an additional 262 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in TransMedics Group by 187.0% during the third quarter. Farther Finance Advisors LLC now owns 485 shares of the company’s stock worth $76,000 after purchasing an additional 316 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

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.