TransMedics Group, Inc. $TMDX Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its TransMedics stake by 57.1% in the first quarter, selling 35,896 shares and retaining 26,937 shares worth approximately $2.68 million. Institutional investors collectively own 99.67% of the company.
• TransMedics reported quarterly revenue of $189.95 million, up 20.7% year over year and above estimates, but earnings of $0.44 per share missed the $0.50 consensus forecast. Shares recently traded at $88.58, below their 200-day moving average of $96.65.
• Analyst sentiment is mixed, with six Buy, six Hold, and one Sell rating; the stock has an average Hold rating and a consensus price target of $124.18.

Royal Bank of Canada cut its stake in shares of TransMedics Group, Inc. (NASDAQ:TMDX - Free Report) by 57.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,937 shares of the company's stock after selling 35,896 shares during the period. Royal Bank of Canada owned approximately 0.08% of TransMedics Group worth $2,678,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Harvest Fund Management Co. Ltd purchased a new position in TransMedics Group in the 3rd quarter worth about $29,000. North Star Investment Management Corp. acquired a new stake in TransMedics Group during the 1st quarter worth about $30,000. Ascentis Independent Advisors purchased a new stake in TransMedics Group during the first quarter valued at about $30,000. Allworth Financial LP lifted its stake in TransMedics Group by 74.3% during the third quarter. Allworth Financial LP now owns 265 shares of the company's stock valued at $30,000 after buying an additional 113 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of TransMedics Group by 42.1% in the fourth quarter. Parallel Advisors LLC now owns 280 shares of the company's stock worth $34,000 after buying an additional 83 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

TransMedics Group Stock Performance

Shares of NASDAQ TMDX opened at $88.58 on Monday. The business's 50-day moving average price is $75.65 and its two-hundred day moving average price is $96.65. The company has a debt-to-equity ratio of 1.62, a current ratio of 6.62 and a quick ratio of 6.07. TransMedics Group, Inc. has a one year low of $60.10 and a one year high of $156.00. The company has a market capitalization of $3.06 billion, a P/E ratio of 22.77 and a beta of 1.90.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). TransMedics Group had a return on equity of 15.88% and a net margin of 22.69%.The firm had revenue of $189.95 million during the quarter, compared to analyst estimates of $184.00 million. During the same period in the previous year, the company earned $0.92 earnings per share. The business's revenue for the quarter was up 20.7% on a year-over-year basis. Analysts anticipate that TransMedics Group, Inc. will post 1.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group dropped their target price on shares of TransMedics Group from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. TD Cowen reaffirmed a "buy" rating and issued a $120.00 target price on shares of TransMedics Group in a research report on Wednesday, July 1st. Zacks Research downgraded TransMedics Group from a "hold" rating to a "strong sell" rating in a report on Monday, July 6th. Wall Street Zen lowered TransMedics Group from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $124.00 price target on shares of TransMedics Group in a research report on Tuesday, June 30th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $124.18.

Insider Activity at TransMedics Group

In related news, Director Thomas J. Gunderson sold 9,624 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $75.06, for a total value of $722,377.44. Following the transaction, the director owned 16,642 shares in the company, valued at approximately $1,249,148.52. This represents a 36.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 6.90% of the company's stock.

About TransMedics Group

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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