Comerica Bank Reduces Stock Holdings in TransMedics Group, Inc. $TMDX

Key Points

• Comerica Bank reduced its stock holdings in TransMedics Group, Inc. by 12.2% in the 1st quarter, owning 21,833 shares worth approximately $1.47 million after selling 3,047 shares.
• Despite Comerica's reduction, OneDigital Investment Advisors increased its holdings by 52.6%, showing a diverse investment interest in TransMedics by various institutional investors.
• TransMedics Group reported earnings of $0.92 per share, significantly exceeding analysts' estimates, and saw a 37.7% increase in revenue year-over-year, leading to positive price target revisions by several analysts.

Comerica Bank reduced its holdings in TransMedics Group, Inc. (NASDAQ:TMDX - Free Report) by 12.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,833 shares of the company's stock after selling 3,047 shares during the period. Comerica Bank owned about 0.06% of TransMedics Group worth $1,469,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its holdings in shares of TransMedics Group by 52.6% in the 1st quarter. OneDigital Investment Advisors LLC now owns 5,989 shares of the company's stock valued at $403,000 after acquiring an additional 2,065 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of TransMedics Group by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 198,427 shares of the company's stock valued at $13,350,000 after acquiring an additional 5,480 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of TransMedics Group in the 1st quarter valued at $291,000. New York State Teachers Retirement System boosted its holdings in shares of TransMedics Group by 183.2% in the 1st quarter. New York State Teachers Retirement System now owns 21,949 shares of the company's stock valued at $1,477,000 after acquiring an additional 14,200 shares during the last quarter. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of TransMedics Group in the 1st quarter valued at $740,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

TransMedics Group Trading Down 4.1%

Shares of NASDAQ:TMDX opened at $106.94 on Thursday. TransMedics Group, Inc. has a 1 year low of $55.00 and a 1 year high of $169.29. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 55.41 and a beta of 2.18. The company has a debt-to-equity ratio of 1.61, a current ratio of 9.86 and a quick ratio of 9.17. The business's 50 day moving average price is $119.14 and its 200-day moving average price is $103.67.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.92 earnings per share (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 firm had revenue of $157.37 million for the quarter, compared to analyst estimates of $146.64 million. During the same quarter last year, the firm posted $0.35 EPS. The business's revenue was up 37.7% on a year-over-year basis. TransMedics Group has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that TransMedics Group, Inc. will post 1 earnings per share for the current fiscal year.

Insider Activity at TransMedics Group

In related news, insider Anil P. Ranganath sold 686 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $139.80, for a total transaction of $95,902.80. Following the completion of the sale, the insider directly owned 13,955 shares in the company, valued at approximately $1,950,909. The trade was a 4.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on TMDX shares. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price objective (up from $125.00) on shares of TransMedics Group in a report on Wednesday, June 4th. Wall Street Zen lowered shares of TransMedics Group from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of TransMedics Group in a report on Monday, August 25th. 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. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, TransMedics Group presently has a consensus rating of "Moderate Buy" and an average price target of $123.00.

TransMedics Group Company 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.

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