M&T Bank Corp Grows Stock Holdings in TransMedics Group, Inc. $TMDX

Key Points

• M&T Bank Corp dramatically increased its stake in TransMedics by 749.2% during Q4, owning 18,572 shares (~0.05% of the company) valued at about $2.26 million.
• Insider selling has been notable: the CFO and a director sold shares on March 4, and insiders have disposed of 16,205 shares worth $2.35 million over the past 90 days, leaving insiders with 6.90% ownership.
• Analysts have raised price targets recently and the stock carries a consensus rating of "Moderate Buy" with a $152.33 target, even as the shares trade at $101.26 (down 6.3%) and the company has a $3.5 billion market cap.

M&T Bank Corp raised its position in shares of TransMedics Group, Inc. (NASDAQ:TMDX - Free Report) by 749.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,572 shares of the company's stock after purchasing an additional 16,385 shares during the period. M&T Bank Corp owned approximately 0.05% of TransMedics Group worth $2,259,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Kensington Investment Counsel LLC purchased a new stake in TransMedics Group during the third quarter valued at about $1,926,000. Nordea Investment Management AB purchased a new stake in TransMedics Group during the third quarter valued at about $4,070,000. Peregrine Capital Management LLC increased its holdings in shares of TransMedics Group by 16.5% in the third quarter. Peregrine Capital Management LLC now owns 68,406 shares of the company's stock worth $7,675,000 after buying an additional 9,676 shares during the period. Fieldview Capital Management LLC purchased a new position in shares of TransMedics Group in the third quarter worth about $1,716,000. Finally, Citigroup Inc. increased its holdings in shares of TransMedics Group by 29.3% in the third quarter. Citigroup Inc. now owns 76,785 shares of the company's stock worth $8,615,000 after buying an additional 17,414 shares during the period. Hedge funds and other institutional investors own 99.67% of the company's stock.

Insider Activity at TransMedics Group

In related news, CFO Gerardo Hernandez sold 7,236 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $147.21, for a total transaction of $1,065,211.56. Following the transaction, the chief financial officer owned 14,689 shares in the company, valued at $2,162,367.69. The trade was a 33.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Weill sold 3,571 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $146.82, for a total value of $524,294.22. Following the transaction, the director owned 12,134 shares in the company, valued at approximately $1,781,513.88. This represents a 22.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,205 shares of company stock worth $2,353,002 over the last 90 days. 6.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on TransMedics Group from $114.00 to $149.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. Oppenheimer lifted their price objective on TransMedics Group from $150.00 to $175.00 and gave the stock an "outperform" rating in a report on Wednesday, February 25th. TD Cowen reiterated a "buy" rating on shares of TransMedics Group in a report on Monday, March 16th. Wall Street Zen downgraded TransMedics Group from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Finally, Needham & Company LLC lifted their price objective on TransMedics Group from $166.00 to $174.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.33.

TransMedics Group Stock Down 6.3%

Shares of NASDAQ:TMDX opened at $101.26 on Wednesday. TransMedics Group, Inc. has a 1 year low of $88.51 and a 1 year high of $156.00. The company has a market cap of $3.50 billion, a PE ratio of 20.67 and a beta of 2.09. The company has a debt-to-equity ratio of 1.06, a current ratio of 7.14 and a quick ratio of 6.59. The stock's 50-day moving average is $118.74 and its 200 day moving average is $126.25.

TransMedics Group Company Profile

TransMedics Group, Inc is a medical device company headquartered in Andover, Massachusetts, that specializes in advanced organ preservation and transport systems for transplantation. The company's flagship technology, the Organ Care System (OCS), maintains donor organs in a near-physiologic, warm, beating state during transportation, with the aim of extending preservation times and improving post‐transplant outcomes. TransMedics' solutions address a critical need in transplantation by reducing ischemic injury and expanding the donor organ pool.

TransMedics currently markets two commercially available OCS platforms.

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