TransMedics Group (NASDAQ:TMDX) Sets New 52-Week High Following Better-Than-Expected Earnings

TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report) hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $121.92 and last traded at $119.11, with a volume of 1457982 shares changing hands. The stock had previously closed at $94.13.

The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.40. The firm had revenue of $96.90 million for the quarter, compared to the consensus estimate of $83.78 million. TransMedics Group had a negative net margin of 10.36% and a negative return on equity of 2.35%. The business's revenue was up 132.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share.

Analyst Upgrades and Downgrades

TMDX has been the subject of several research reports. Oppenheimer boosted their price objective on shares of TransMedics Group from $105.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday. Piper Sandler reissued an "overweight" rating and set a $120.00 price objective (up from $95.00) on shares of TransMedics Group in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of TransMedics Group from $105.00 to $127.00 and gave the company an "overweight" rating in a report on Wednesday. Morgan Stanley boosted their price objective on shares of TransMedics Group from $75.00 to $95.00 and gave the company an "equal weight" rating in a report on Wednesday, February 28th. Finally, TD Cowen boosted their price objective on shares of TransMedics Group from $100.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, TransMedics Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.00.

Insider Buying and Selling at TransMedics Group

In other TransMedics Group news, CFO Stephen Gordon sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $85.45, for a total transaction of $1,281,750.00. Following the completion of the sale, the chief financial officer now directly owns 13,075 shares of the company's stock, valued at $1,117,258.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Waleed H. Hassanein sold 4,000 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $95.12, for a total value of $380,480.00. Following the completion of the sale, the chief executive officer now directly owns 74,087 shares of the company's stock, valued at $7,047,155.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Stephen Gordon sold 15,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $85.45, for a total transaction of $1,281,750.00. Following the completion of the sale, the chief financial officer now directly owns 13,075 shares of the company's stock, valued at $1,117,258.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,078 shares of company stock valued at $9,972,971. Insiders own 6.70% of the company's stock.

Institutional Trading of TransMedics Group

A number of hedge funds and other institutional investors have recently modified their holdings of TMDX. Venturi Wealth Management LLC purchased a new stake in shares of TransMedics Group in the first quarter worth $30,000. Cutler Group LLC CA increased its stake in shares of TransMedics Group by 600.0% in the third quarter. Cutler Group LLC CA now owns 700 shares of the company's stock worth $38,000 after purchasing an additional 600 shares in the last quarter. RiverPark Advisors LLC purchased a new stake in shares of TransMedics Group in the third quarter worth $60,000. First Horizon Advisors Inc. boosted its position in shares of TransMedics Group by 26.8% during the fourth quarter. First Horizon Advisors Inc. now owns 1,049 shares of the company's stock worth $83,000 after acquiring an additional 222 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of TransMedics Group by 39.0% during the third quarter. Van ECK Associates Corp now owns 2,127 shares of the company's stock worth $116,000 after acquiring an additional 597 shares during the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

TransMedics Group Trading Up 24.9 %

The company has a debt-to-equity ratio of 3.69, a current ratio of 9.30 and a quick ratio of 8.49. The stock's 50-day moving average is $83.85 and its two-hundred day moving average is $75.92. The stock has a market cap of $3.85 billion, a P/E ratio of -152.73 and a beta of 1.99.

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.