TransMedics Group, Inc. (NASDAQ:TMDX) Shares Purchased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lifted its position in TransMedics Group, Inc. (NASDAQ:TMDX - Free Report) by 68.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,247 shares of the company's stock after acquiring an additional 2,540 shares during the period. Cornerstone Wealth Management LLC's holdings in TransMedics Group were worth $420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in TMDX. Braidwell LP acquired a new position in shares of TransMedics Group in the 4th quarter valued at $57,493,000. Norges Bank acquired a new stake in TransMedics Group during the 4th quarter worth about $22,861,000. Mackenzie Financial Corp grew its position in TransMedics Group by 73.0% during the 4th quarter. Mackenzie Financial Corp now owns 828,147 shares of the company's stock worth $51,635,000 after purchasing an additional 349,403 shares during the period. Dimensional Fund Advisors LP grew its position in TransMedics Group by 1,565.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 269,825 shares of the company's stock worth $16,820,000 after purchasing an additional 253,624 shares during the period. Finally, Emerald Advisers LLC grew its position in TransMedics Group by 146.3% during the 4th quarter. Emerald Advisers LLC now owns 371,711 shares of the company's stock worth $23,176,000 after purchasing an additional 220,804 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.

TransMedics Group Trading Down 0.4%

TMDX stock opened at $123.56 on Friday. The firm has a market cap of $4.18 billion, a P/E ratio of 90.85 and a beta of 2.10. TransMedics Group, Inc. has a 52-week low of $55.00 and a 52-week high of $177.37. The company's 50-day simple moving average is $114.23 and its 200-day simple moving average is $84.05. The company has a quick ratio of 8.32, a current ratio of 9.10 and a debt-to-equity ratio of 1.92.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.41. The firm had revenue of $143.54 million for the quarter, compared to analyst estimates of $123.39 million. TransMedics Group had a net margin of 10.03% and a return on equity of 21.88%. TransMedics Group's quarterly revenue was up 48.2% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. As a group, equities 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 firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $115.63, for a total value of $693,780.00. Following the transaction, the director now directly owns 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 through 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 stock was sold at an average price of $139.80, for a total transaction of $95,902.80. Following the completion of the transaction, the insider now directly owns 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. In the last three months, insiders have sold 12,418 shares of company stock valued at $1,512,613. 7.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TMDX. Needham & Company LLC reaffirmed a "hold" rating on shares of TransMedics Group in a research report on Tuesday. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 price target (up from $125.00) on shares of TransMedics Group in a research report on Wednesday, June 4th. Canaccord Genuity Group reissued a "buy" rating and set a $104.00 target price on shares of TransMedics Group in a research note on Tuesday, March 11th. Finally, Oppenheimer increased their target price on shares of TransMedics Group from $130.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, TransMedics Group currently has an average rating of "Moderate Buy" and an average target price of $127.33.

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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