TransMedics Group (NASDAQ:TMDX) Stock Price Up 6.5% – Here’s What Happened

TransMedics Group, Inc. (NASDAQ:TMDX) rose 6.5% during trading on Tuesday . The company traded as high as $73.00 and last traded at $73.21. Approximately 277,077 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 2,631,531 shares. The stock had previously closed at $68.76.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TMDX shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $75.00 price objective (down previously from $116.00) on shares of TransMedics Group in a research report on Tuesday, December 17th. TD Cowen cut their price target on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a report on Monday, November 18th. Robert W. Baird decreased their price objective on shares of TransMedics Group from $150.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Oppenheimer restated an “outperform” rating and set a $125.00 price objective on shares of TransMedics Group in a research report on Tuesday, December 3rd. Finally, Canaccord Genuity Group reduced their target price on TransMedics Group from $109.00 to $104.00 and set a “buy” rating on the stock in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $122.70.

TransMedics Group Stock Performance

The company has a market cap of $2.47 billion, a price-to-earnings ratio of 78.16 and a beta of 2.12. The company has a debt-to-equity ratio of 2.42, a quick ratio of 7.33 and a current ratio of 8.20. The company has a fifty day moving average of $66.67 and a two-hundred day moving average of $110.42.

Insider Activity

In other news, insider Tamer I. Khayal sold 1,084 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $86.40, for a total transaction of $93,657.60. Following the completion of the transaction, the insider now directly owns 20,843 shares in the company, valued at $1,800,835.20. This trade represents a 4.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.00% of the stock is currently owned by insiders.

Institutional Trading of TransMedics Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TMDX. USA Financial Formulas bought a new position in shares of TransMedics Group in the 3rd quarter worth about $55,000. Quarry LP increased its holdings in TransMedics Group by 557.1% in the third quarter. Quarry LP now owns 368 shares of the company’s stock worth $58,000 after purchasing an additional 312 shares in the last quarter. National Bank of Canada FI lifted its stake in TransMedics Group by 174.7% in the third quarter. National Bank of Canada FI now owns 412 shares of the company’s stock valued at $65,000 after buying an additional 262 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of TransMedics Group by 187.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 485 shares of the company’s stock worth $76,000 after buying an additional 316 shares in the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in shares of TransMedics Group during the 4th quarter worth approximately $33,000. 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.