TransMedics Group, Inc. (NASDAQ:TMDX) Stock Position Lifted by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its stake in TransMedics Group, Inc. by 30.4%, acquiring a total of 10,627 shares valued at $715,000.
• TransMedics reported a quarterly earnings per share of $0.92, significantly exceeding analysts' expectations of $0.48, alongside revenue growth of 37.7% year-over-year.
• Multiple analysts have upgraded their price targets for TransMedics Group, with Piper Sandler setting a new target of $145.00, reflecting increased confidence in the company's performance.

HB Wealth Management LLC boosted its position in TransMedics Group, Inc. (NASDAQ:TMDX - Free Report) by 30.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,627 shares of the company's stock after buying an additional 2,478 shares during the period. HB Wealth Management LLC's holdings in TransMedics Group were worth $715,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tempus Wealth Planning LLC grew its holdings in TransMedics Group by 9.2% in the 1st quarter. Tempus Wealth Planning LLC now owns 6,058 shares of the company's stock valued at $408,000 after buying an additional 508 shares during the period. Legato Capital Management LLC purchased a new stake in shares of TransMedics Group during the 1st quarter worth about $332,000. Allianz Asset Management GmbH purchased a new stake in shares of TransMedics Group during the 1st quarter worth about $343,000. Lindbrook Capital LLC grew its holdings in shares of TransMedics Group by 69.3% during the 1st quarter. Lindbrook Capital LLC now owns 2,742 shares of the company's stock worth $184,000 after purchasing an additional 1,122 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of TransMedics Group by 3.6% during the 1st quarter. Jennison Associates LLC now owns 9,217 shares of the company's stock worth $620,000 after purchasing an additional 316 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, insider Anil P. Ranganath sold 686 shares of the company'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 sale, the insider directly owned 13,955 shares of the company's stock, valued at approximately $1,950,909. This represents a 4.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Edward M. Basile sold 5,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $126.45, for a total value of $632,250.00. Following the completion of the sale, the director directly owned 2,866 shares in the company, valued at $362,405.70. This represents a 63.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,418 shares of company stock valued at $1,512,613. Corporate insiders own 7.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Canaccord Genuity Group boosted their target price on TransMedics Group from $129.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, July 15th. Oppenheimer boosted 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. Needham & Company LLC reiterated a "hold" rating on shares of TransMedics Group in a report on Tuesday, June 17th. Morgan Stanley upped their price target on TransMedics Group from $115.00 to $123.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Piper Sandler restated an "overweight" rating and issued a $145.00 price target (up previously from $125.00) on shares of TransMedics Group in a report on Wednesday, June 4th. Three equities research 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 stock. According to data from MarketBeat, TransMedics Group has an average rating of "Moderate Buy" and an average price target of $123.00.

TransMedics Group Stock Up 7.8%

Shares of TMDX traded up $9.36 during trading on Monday, reaching $129.91. The company's stock had a trading volume of 1,284,145 shares, compared to its average volume of 1,360,874. The company has a fifty day moving average of $124.51 and a two-hundred day moving average of $95.50. TransMedics Group, Inc. has a twelve month low of $55.00 and a twelve month high of $177.37. The company has a market cap of $4.43 billion, a price-to-earnings 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.

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 analysts' consensus estimates of $0.48 by $0.44. TransMedics Group had a return on equity of 28.02% and a net margin of 13.49%. The company had revenue of $157.37 million for the quarter, compared to analyst estimates of $146.64 million. During the same period in the prior year, the company posted $0.35 EPS. TransMedics Group's quarterly revenue was up 37.7% on a year-over-year basis. On average, sell-side analysts predict that TransMedics Group, Inc. will post 1 EPS for the current fiscal 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.