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

Shares of TransMedics Group, Inc. (NASDAQ:TMDX) 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.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC cut their price target on shares of TransMedics Group from $208.00 to $109.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Oppenheimer cut their price objective on shares of TransMedics Group from $200.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Baird R W upgraded shares of TransMedics Group to a “strong-buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price objective on TransMedics Group from $173.00 to $116.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, Canaccord Genuity Group dropped their target price on TransMedics Group from $169.00 to $109.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, TransMedics Group has a consensus rating of “Buy” and a consensus price target of $139.30.

Insider Activity at TransMedics Group

In other news, CEO Waleed H. Hassanein sold 8,625 shares of the firm’s 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 sale, the chief executive officer now directly owns 61,643 shares of the company’s stock, valued at $9,457,269.06. This trade represents a 12.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Corcoran sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $176.02, for a total value of $1,760,200.00. Following the transaction, the insider now directly owns 21,105 shares in the company, valued at $3,714,902.10. This represents a 32.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,958 shares of company stock valued at $5,230,528 over the last 90 days. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TransMedics Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new stake in TransMedics Group during the third quarter worth about $2,560,000. WCM Investment Management LLC acquired a new stake in shares of TransMedics Group during the 3rd quarter valued at approximately $8,720,000. Vaughan Nelson Investment Management L.P. grew its holdings in shares of TransMedics Group by 24.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 329,010 shares of the company’s stock worth $51,654,000 after acquiring an additional 64,360 shares during the period. Allspring Global Investments Holdings LLC increased its stake in TransMedics Group by 5.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 599,116 shares of the company’s stock valued at $94,061,000 after purchasing an additional 30,092 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in TransMedics Group during the second quarter worth $1,400,000. 99.67% of the stock is owned by institutional investors and hedge funds.

TransMedics Group Stock Performance

The company has a debt-to-equity ratio of 2.42, a current ratio of 8.20 and a quick ratio of 7.33. The stock has a 50-day simple moving average of $125.63 and a 200 day simple moving average of $139.55. The company has a market capitalization of $2.68 billion, a PE 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). TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The business had revenue of $108.76 million for the quarter, compared to analyst estimates of $115.00 million. During the same period last year, the company posted ($0.12) EPS. The firm’s revenue for the quarter was up 63.7% compared to the same quarter last year. Equities analysts anticipate that TransMedics Group, Inc. will post 1.07 EPS for the current fiscal 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.