Envestnet Asset Management Inc. Cuts Stock Position in TransMedics Group, Inc. (NASDAQ:TMDX)

Key Points

• Envestnet Asset Management Inc. reduced its stake in TransMedics Group by 72.3%, selling 61,007 shares, and now owns approximately 0.07% of the company's stock, valued at $1,572,000.
• Several other institutional investors have adjusted their positions in TMDX, with notable increases from OneDigital Investment Advisors (52.6%) and D.A. Davidson & CO. (12.6%).
• TransMedics Group reported a strong quarterly earnings performance, with earnings per share of $0.92, exceeding expectations and reflecting a 37.7% year-over-year revenue growth to $157.37 million.

Envestnet Asset Management Inc. cut its position in TransMedics Group, Inc. (NASDAQ:TMDX - Free Report) by 72.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,365 shares of the company's stock after selling 61,007 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of TransMedics Group worth $1,572,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC raised its position in shares of TransMedics Group by 52.6% during the first quarter. OneDigital Investment Advisors LLC now owns 5,989 shares of the company's stock worth $403,000 after acquiring an additional 2,065 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of TransMedics Group by 12.6% during the first quarter. D.A. Davidson & CO. now owns 12,924 shares of the company's stock worth $870,000 after acquiring an additional 1,442 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of 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 last quarter. Teacher Retirement System of Texas bought a new position in shares of TransMedics Group during the first quarter worth about $330,000. Finally, Clear Creek Financial Management LLC increased its holdings in TransMedics Group by 5.8% in the first quarter. Clear Creek Financial Management LLC now owns 5,963 shares of the company's stock worth $401,000 after purchasing an additional 325 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

TransMedics Group Stock Up 1.3%

TransMedics Group stock traded up $1.58 during mid-day trading on Friday, reaching $120.55. The stock had a trading volume of 1,775,224 shares, compared to its average volume of 1,198,309. The firm has a market capitalization of $4.11 billion, a PE ratio of 62.46 and a beta of 2.09. The company has a debt-to-equity ratio of 1.61, a quick ratio of 8.32 and a current ratio of 9.86. TransMedics Group, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $177.37. The stock's 50-day simple moving average is $124.51 and its 200-day simple moving average is $95.00.

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 the consensus estimate of $0.48 by $0.44. The company had revenue of $157.37 million for the quarter, compared to analysts' expectations of $146.64 million. TransMedics Group had a return on equity of 28.02% and a net margin of 13.49%. TransMedics Group's quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, sell-side analysts forecast that TransMedics Group, Inc. will post 1 EPS for the current fiscal year.

Insider Activity at TransMedics Group

In other TransMedics Group news, Director Edward M. Basile sold 6,000 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $115.63, for a total value of $693,780.00. Following the sale, the director directly owned 732 shares in the company, valued at $84,641.16. The trade was a 89.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Weill sold 732 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $123.88, for a total value of $90,680.16. Following the sale, the director owned 12,134 shares in the company, valued at approximately $1,503,159.92. The trade was a 5.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,418 shares of company stock valued at $1,512,613 over the last 90 days. Insiders own 7.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TMDX shares. Needham & Company LLC reiterated a "hold" rating on shares of TransMedics Group in a report on Tuesday, June 17th. Oppenheimer lifted their target price on TransMedics Group from $130.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday, June 17th. Morgan Stanley lifted their target price on TransMedics Group from $115.00 to $123.00 and gave the stock an "equal weight" rating in a report on Friday. Canaccord Genuity Group raised their price objective on TransMedics Group from $129.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, July 15th. Finally, Piper Sandler reissued an "overweight" rating and issued a $145.00 price objective (up previously from $125.00) on shares of TransMedics Group in a research note on Wednesday, June 4th. Three 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 company's stock. According to data from MarketBeat.com, TransMedics Group presently has a consensus rating of "Moderate Buy" and an average target price of $129.11.

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.