Allianz Asset Management GmbH Takes Position in TransMedics Group, Inc. (NASDAQ:TMDX)

Key Points

• Allianz Asset Management GmbH acquired 5,100 shares of TransMedics Group, Inc. for approximately $343,000 during the 1st quarter, adding to the growing institutional interest in the company.
• TransMedics Group reported strong earnings results with a net margin of 13.49% and a 37.7% year-over-year revenue growth, surpassing analysts’ expectations.
• Despite recent insider selling, institutional investors continue to dominate ownership, holding 99.67% of TransMedics' stock.

Allianz Asset Management GmbH bought a new position in TransMedics Group, Inc. (NASDAQ:TMDX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,100 shares of the company's stock, valued at approximately $343,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. bought a new stake in TransMedics Group in the first quarter worth $25,000. Atlas Capital Advisors Inc. bought a new position in shares of TransMedics Group in the fourth quarter worth about $31,000. Hager Investment Management Services LLC lifted its stake in TransMedics Group by 38.3% in the first quarter. Hager Investment Management Services LLC now owns 740 shares of the company's stock worth $50,000 after acquiring an additional 205 shares during the period. CWM LLC lifted its stake in TransMedics Group by 20.1% in the first quarter. CWM LLC now owns 925 shares of the company's stock worth $62,000 after acquiring an additional 155 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of TransMedics Group by 551.7% during the first quarter. GAMMA Investing LLC now owns 1,564 shares of the company's stock valued at $105,000 after buying an additional 1,324 shares during the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler reissued an "overweight" rating and set a $145.00 price target (up from $125.00) on shares of TransMedics Group in a research report on Wednesday, June 4th. Wall Street Zen raised shares of TransMedics Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Morgan Stanley raised their price target on shares of TransMedics Group from $115.00 to $123.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Canaccord Genuity Group lifted their target price on shares of TransMedics Group from $129.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, July 15th. Finally, Oppenheimer lifted their target price on shares of TransMedics Group from $130.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $123.00.

TransMedics Group Stock Performance

Shares of NASDAQ TMDX traded down $0.61 during mid-day trading on Friday, hitting $115.44. 490,339 shares of the company were exchanged, compared to its average volume of 1,353,221. The company has a quick ratio of 9.17, a current ratio of 9.86 and a debt-to-equity ratio of 1.61. The stock has a 50 day simple moving average of $124.11 and a 200-day simple moving average of $96.77. TransMedics Group, Inc. has a 1-year low of $55.00 and a 1-year high of $177.37. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 59.69 and a beta of 2.09.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.44. TransMedics Group had a return on equity of 28.02% and a net margin of 13.49%. The company had revenue of $157.37 million during the quarter, compared to the consensus estimate of $146.64 million. During the same quarter last year, the company earned $0.35 earnings per share. TransMedics Group's quarterly revenue was up 37.7% compared to the same quarter last year. On average, sell-side analysts forecast that TransMedics Group, Inc. will post 1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David Weill sold 732 shares of TransMedics Group stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $123.88, for a total transaction of $90,680.16. Following the completion of the sale, the director owned 12,134 shares in the company, valued at approximately $1,503,159.92. This trade represents a 5.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anil P. Ranganath sold 686 shares of TransMedics Group stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $139.80, for a total value of $95,902.80. Following the sale, the insider owned 13,955 shares of the company's stock, valued at approximately $1,950,909. This represents a 4.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,418 shares of company stock worth $818,833. 7.00% of the stock is owned by corporate insiders.

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.