Envestnet Asset Management Inc. Trims Stock Holdings 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 stake in TransMedics Group, Inc. (NASDAQ:TMDX - Free Report) by 72.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & 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 about 0.07% of TransMedics Group worth $1,572,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC grew its stake 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. Principal Financial Group Inc. lifted its holdings in TransMedics Group by 2.8% in the first 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 period. Vontobel Holding Ltd. acquired a new position in TransMedics Group in the first quarter valued at approximately $291,000. New York State Teachers Retirement System lifted its holdings in TransMedics Group by 183.2% in the first 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 period. Finally, Sugar Maple Asset Management LLC acquired a new position in TransMedics Group in the first quarter valued at approximately $740,000. 99.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other TransMedics Group news, Director Edward M. Basile sold 6,000 shares of TransMedics Group stock in a transaction that occurred 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 transaction, the director directly owned 732 shares in the company, valued at approximately $84,641.16. This trade represents a 89.13% decrease in their position. The sale 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 that occurred on Monday, June 9th. The shares were sold at an average price of $139.80, for a total value of $95,902.80. Following the completion of the transaction, the insider owned 13,955 shares in the company, valued at $1,950,909. This trade represents a 4.69% 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 quarter. Company insiders own 7.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TMDX. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 target price (up from $125.00) on shares of TransMedics Group in a research note on Wednesday, June 4th. Morgan Stanley boosted their price target on TransMedics Group from $115.00 to $123.00 and gave the stock an "equal weight" rating in a research report on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of TransMedics Group in a research note on Tuesday, June 17th. Wall Street Zen raised TransMedics Group from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Canaccord Genuity Group upped their price target on TransMedics Group from $129.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $123.00.

TransMedics Group Trading Up 8.3%

NASDAQ TMDX traded up $9.97 during trading on Monday, hitting $130.52. The stock had a trading volume of 1,284,145 shares, compared to its average volume of 1,360,874. The company has a market capitalization of $4.45 billion, a PE ratio of 67.39 and a beta of 2.09. 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 firm has a 50 day moving average price of $124.51 and a 200 day moving average price of $95.50. TransMedics Group, Inc. has a twelve month low of $55.00 and a twelve month high of $177.37.

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

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.