TransMedics Group, Inc. (NASDAQ:TMDX) Shares Sold by Bastion Asset Management Inc.

Key Points

• Bastion Asset Management Inc. significantly reduced its holdings in TransMedics Group by 87.6% in Q1, owning only 4,740 shares after selling 33,596 shares.
• TransMedics Group's stock has shown strong performance, with the company reporting a 48.2% year-over-year revenue increase and an earnings per share of $0.70, surpassing analysts' expectations.
• Several analysts have upgraded their price targets for TransMedics Group, with Piper Sandler setting a new target of $145.00 and Oppenheimer raising their target from $130.00 to $150.00.

Bastion Asset Management Inc. cut its holdings in shares of TransMedics Group, Inc. (NASDAQ:TMDX - Free Report) by 87.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,740 shares of the company's stock after selling 33,596 shares during the period. Bastion Asset Management Inc.'s holdings in TransMedics Group were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. HB Wealth Management LLC boosted its holdings in TransMedics Group by 30.4% in the first quarter. HB Wealth Management LLC now owns 10,627 shares of the company's stock valued at $715,000 after purchasing an additional 2,478 shares during the last quarter. Tempus Wealth Planning LLC boosted its holdings in TransMedics Group by 9.2% in the first quarter. Tempus Wealth Planning LLC now owns 6,058 shares of the company's stock valued at $408,000 after purchasing an additional 508 shares during the last quarter. Legato Capital Management LLC purchased a new stake in TransMedics Group in the first quarter valued at $332,000. Allianz Asset Management GmbH purchased a new stake in TransMedics Group in the first quarter valued at $343,000. Finally, Lindbrook Capital LLC boosted its holdings in TransMedics Group by 69.3% in the first quarter. Lindbrook Capital LLC now owns 2,742 shares of the company's stock valued at $184,000 after purchasing an additional 1,122 shares during the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TransMedics Group

In other news, Director David Weill sold 732 shares of TransMedics Group stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $123.88, for a total transaction of $90,680.16. Following the transaction, the director owned 12,134 shares in the company, valued at $1,503,159.92. The trade was a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anil P. Ranganath sold 686 shares of TransMedics Group stock in a transaction on Monday, June 9th. The stock was sold at an average price of $139.80, for a total value of $95,902.80. Following the transaction, the insider owned 13,955 shares in the company, valued at approximately $1,950,909. This represents a 4.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,418 shares of company stock worth $1,512,613. Corporate insiders own 7.00% of the company's stock.

TransMedics Group Price Performance

TransMedics Group stock opened at $108.12 on Friday. The company's fifty day moving average price is $125.68 and its 200 day moving average price is $93.51. TransMedics Group, Inc. has a 1 year low of $55.00 and a 1 year high of $177.37. The stock has a market capitalization of $3.66 billion, a P/E ratio of 79.50 and a beta of 2.06. The company has a debt-to-equity ratio of 1.92, a quick ratio of 8.32 and a current ratio of 9.10.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $143.54 million for the quarter, compared to analyst estimates of $123.39 million. TransMedics Group had a return on equity of 21.88% and a net margin of 10.03%. The firm's revenue for the quarter was up 48.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. As a group, equities research analysts anticipate that TransMedics Group, Inc. will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 target price (up from $125.00) on shares of TransMedics Group in a report on Wednesday, June 4th. Oppenheimer lifted their target price on shares of TransMedics Group from $130.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. Needham & Company LLC reaffirmed a "hold" rating on shares of TransMedics Group in a report on Tuesday, June 17th. Finally, Canaccord Genuity Group lifted their target price on shares of TransMedics Group from $129.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.88.

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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