TransMedics Group (NASDAQ:TMDX) Stock Jumps 3.9% - Here's What Happened

Key Points

• TransMedics shares rose 3.9% to about $95.60 in midday trading, while trading volume was 89% below its average.
• The company beat quarterly expectations, reporting earnings of $0.51 per share versus $0.30 expected and revenue of $203.01 million versus $178.06 million expected; revenue increased 41.1% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $113.30. Five analysts rate the stock Buy and seven rate it Hold.

Shares of TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report) were up 3.9% during mid-day trading on Thursday. The stock traded as high as $95.78 and last traded at $95.5990. 107,615 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,022,576 shares. The stock had previously closed at $92.01.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Weiss Ratings upgraded TransMedics Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 31st. Barclays began coverage on TransMedics Group in a report on Wednesday, October 7th. They issued an "overweight" rating and a $120.00 price objective for the company. Needham & Company LLC upped their target price on TransMedics Group from $106.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, November 6th. Zacks Research raised TransMedics Group from a "strong sell" rating to a "hold" rating in a report on Monday, November 2nd. Finally, Piper Sandler restated an "overweight" rating and issued a $100.00 price target (down from $120.00) on shares of TransMedics Group in a research report on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $113.30.

TransMedics Group Trading Up 0.4%

The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 1.70 and a beta of 2.14. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.53 and a quick ratio of 4.15. The firm's fifty day moving average is $80.04 and its 200-day moving average is $92.52.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.21. The firm had revenue of $203.01 million during the quarter, compared to the consensus estimate of $178.06 million. TransMedics Group had a return on equity of 13.30% and a net margin of 19.85%. The business's revenue was up 41.1% compared to the same quarter last year. During the same period last year, the business posted $0.66 EPS. Equities analysts anticipate that TransMedics Group, Inc. will post 1.58 earnings per share for the current year.

Insider Buying and Selling

In other TransMedics Group news, Director David Weill bought 1,336 shares of the stock in a transaction on Friday, September 11th. The stock was acquired at an average cost of $81.63 per share, for a total transaction of $109,057.68. Following the completion of the acquisition, the director owned 16,392 shares in the company, valued at $1,338,078.96. This trade represents a 8.87% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 6.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TransMedics Group

Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. bought a new position in TransMedics Group during the third quarter worth $137,000. Public Sector Pension Investment Board raised its holdings in shares of TransMedics Group by 30.2% during the third quarter. Public Sector Pension Investment Board now owns 154,648 shares of the company's stock valued at $12,260,000 after purchasing an additional 35,902 shares during the period. Banco Santander S.A. acquired a new position in shares of TransMedics Group during the third quarter valued at about $232,000. Bessemer Group Inc. raised its holdings in shares of TransMedics Group by 0.5% during the third quarter. Bessemer Group Inc. now owns 46,019 shares of the company's stock valued at $3,840,000 after purchasing an additional 220 shares during the period. Finally, Hantz Financial Services Inc. boosted its position in shares of TransMedics Group by 56.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 827 shares of the company's stock worth $69,000 after purchasing an additional 298 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

About TransMedics Group

TransMedics Group, Inc. is a medical technology company focused on improving organ transplantation. Its Organ Care System (OCS) is a portable platform that perfuses donor organs with warm, oxygenated blood and nutrients while they are outside the body. The company offers OCS systems for donor hearts, lungs and livers, along with related consumables and services. The company also operates the National OCS Program in the United States, an integrated offering that combines its technology with organ procurement and transportation services.

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