Bank of New York Mellon Corp Cuts Stock Holdings in TransMedics Group, Inc. (NASDAQ:TMDX)

Bank of New York Mellon Corp lowered its position in TransMedics Group, Inc. (NASDAQ:TMDX - Free Report) by 62.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 209,677 shares of the company's stock after selling 343,585 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.62% of TransMedics Group worth $14,107,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TMDX. OneDigital Investment Advisors LLC raised its position in shares of TransMedics Group by 52.6% in the first quarter. OneDigital Investment Advisors LLC now owns 5,989 shares of the company's stock valued at $403,000 after purchasing an additional 2,065 shares during the period. Principal Financial Group Inc. increased its position in TransMedics Group by 2.8% during the first quarter. Principal Financial Group Inc. now owns 198,427 shares of the company's stock worth $13,350,000 after acquiring an additional 5,480 shares during the period. Vontobel Holding Ltd. bought a new position in TransMedics Group during the first quarter worth about $291,000. New York State Teachers Retirement System increased its position in TransMedics Group by 183.2% during the first quarter. New York State Teachers Retirement System now owns 21,949 shares of the company's stock worth $1,477,000 after acquiring an additional 14,200 shares during the period. Finally, Emerald Advisers LLC increased its position in TransMedics Group by 146.3% during the fourth quarter. Emerald Advisers LLC now owns 371,711 shares of the company's stock worth $23,176,000 after acquiring an additional 220,804 shares during the period. Institutional investors and hedge funds own 99.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TMDX. Canaccord Genuity Group raised their price target on shares of TransMedics Group from $129.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of TransMedics Group in a research report on Tuesday, June 17th. Oppenheimer raised their price target on shares of TransMedics Group from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 17th. Finally, Piper Sandler reaffirmed 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. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, TransMedics Group presently has a consensus rating of "Moderate Buy" and an average price target of $129.88.

TransMedics Group Price Performance

Shares of TMDX traded down $2.64 during mid-day trading on Friday, reaching $109.88. The company had a trading volume of 789,501 shares, compared to its average volume of 1,384,062. The company's 50 day simple moving average is $127.13 and its 200 day simple moving average is $92.46. TransMedics Group, Inc. has a 1-year low of $55.00 and a 1-year high of $177.37. The company has a debt-to-equity ratio of 1.92, a quick ratio of 8.32 and a current ratio of 9.10. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 80.79 and a beta of 2.06.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.29 by $0.41. TransMedics Group had a net margin of 10.03% and a return on equity of 21.88%. The business had revenue of $143.54 million for the quarter, compared to the consensus estimate of $123.39 million. During the same period last year, the company earned $0.35 EPS. The firm's revenue was up 48.2% compared to the same quarter last year. Analysts expect that TransMedics Group, Inc. will post 1 EPS for the current year.

Insider Transactions at TransMedics Group

In other news, Director Edward M. Basile sold 6,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $115.63, for a total value of $693,780.00. Following the transaction, the director owned 732 shares in the company, valued at approximately $84,641.16. The trade was a 89.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Weill sold 732 shares of the business's stock in a transaction that occurred on 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 transaction, the director owned 12,134 shares in the company, valued at $1,503,159.92. This trade represents a 5.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,418 shares of company stock worth $1,512,613. Company insiders own 7.00% of the company's stock.

TransMedics Group 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.