Legato Capital Management LLC Takes $332,000 Position in TransMedics Group, Inc. (NASDAQ:TMDX)

Key Points

• Legato Capital Management LLC has acquired a new stake in TransMedics Group, Inc., purchasing 4,930 shares valued at approximately $332,000 in the first quarter of 2023.
• Insider transactions revealed that two directors sold a total of 5,732 shares of the stock, significantly reducing their ownership stakes.
• TransMedics Group reported $0.70 earnings per share for the last quarter, exceeding analyst estimates, with a 48.2% year-over-year revenue increase to $143.54 million.

Legato Capital Management LLC bought a new stake in TransMedics Group, Inc. (NASDAQ:TMDX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,930 shares of the company's stock, valued at approximately $332,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. OneDigital Investment Advisors LLC lifted 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 purchasing an additional 2,065 shares during the last quarter. Principal Financial Group Inc. lifted 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 purchasing 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 about $291,000. New York State Teachers Retirement System raised its stake in TransMedics Group by 183.2% during 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 TransMedics Group during the 1st quarter valued at approximately $740,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of TransMedics Group in a research note on Tuesday, June 17th. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 price objective (up from $125.00) on shares of TransMedics Group in a research note on Wednesday, June 4th. Oppenheimer upped their price objective on TransMedics Group from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Tuesday, June 17th. Finally, Canaccord Genuity Group upped 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. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, TransMedics Group has a consensus rating of "Moderate Buy" and a consensus price target of $129.88.

TransMedics Group Stock Performance

Shares of TMDX stock traded up $1.33 during trading hours on Friday, reaching $108.12. 652,618 shares of the company's stock were exchanged, compared to its average volume of 916,207. TransMedics Group, Inc. has a 1 year low of $55.00 and a 1 year high of $177.37. The company has a market cap of $3.66 billion, a P/E ratio of 79.50 and a beta of 2.06. The company's 50 day moving average is $125.68 and its two-hundred day moving average is $93.65. The company has a debt-to-equity ratio of 1.92, a current ratio of 9.10 and a quick ratio of 8.32.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.41. TransMedics Group had a return on equity of 21.88% and a net margin of 10.03%. The firm had revenue of $143.54 million during the quarter, compared to the consensus estimate of $123.39 million. During the same period last year, the business posted $0.35 EPS. TransMedics Group's quarterly revenue was up 48.2% on a year-over-year basis. Equities research analysts anticipate that TransMedics Group, Inc. will post 1 EPS for the current fiscal year.

Insider Activity at TransMedics Group

In related news, Director Edward M. Basile sold 6,000 shares of the firm's 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 completion of the transaction, the director directly owned 732 shares of the company's stock, valued at $84,641.16. This trade represents a 89.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anil P. Ranganath sold 686 shares of the firm's 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 directly owned 13,955 shares of the company's stock, valued at $1,950,909. The trade was a 4.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,418 shares of company stock valued at $1,512,613 in the last ninety days. Corporate insiders own 7.00% of the company's stock.

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.