TransMedics Group (NASDAQ:TMDX) Shares Down 4.5% - Here's What Happened

Key Points

• Shares of TransMedics were down 4.5% on Wednesday, trading as low as $103.66 and last at $104.05 on about 570,111 shares, a ~34% drop versus average daily volume.
• Analyst sentiment is mixed but overall positive—MarketBeat lists a “Moderate Buy” consensus with an average price target of $152.33, while recent firm updates include JPMorgan raising its target to $149 (neutral), Needham to $174 (buy) and Stifel to $130 (hold).
• Insiders sold 16,205 shares worth roughly $2.35M in the last 90 days (including sales by Director Stephanie Lovell and Anil Ranganath); insiders now own about 7% of the stock while institutional ownership is reported at 99.67%.

TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report)'s stock price was down 4.5% on Wednesday . The stock traded as low as $103.66 and last traded at $104.05. Approximately 570,111 shares traded hands during trading, a decline of 34% from the average daily volume of 857,904 shares. The stock had previously closed at $108.92.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. TD Cowen reaffirmed a "buy" rating on shares of TransMedics Group in a research note on Monday, March 16th. JPMorgan Chase & Co. boosted their price target on shares of TransMedics Group from $114.00 to $149.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 25th. Needham & Company LLC raised their price objective on shares of TransMedics Group from $166.00 to $174.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Wall Street Zen lowered shares of TransMedics Group from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Finally, Stifel Nicolaus upped their target price on shares of TransMedics Group from $115.00 to $130.00 and gave the company a "hold" rating in a research report on Monday, March 9th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, TransMedics Group currently has an average rating of "Moderate Buy" and an average price target of $152.33.

TransMedics Group Stock Down 5.1%

The firm has a market cap of $3.54 billion, a P/E ratio of 21.03 and a beta of 1.98. The firm's 50 day moving average is $133.18 and its two-hundred day moving average is $127.61. The company has a current ratio of 7.14, a quick ratio of 6.59 and a debt-to-equity ratio of 1.06.

Insiders Place Their Bets

In other TransMedics Group news, Director Stephanie Lovell sold 1,193 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $149.62, for a total value of $178,496.66. Following the completion of the sale, the director directly owned 2,866 shares in the company, valued at $428,810.92. This represents a 29.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anil P. Ranganath sold 864 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $139.12, for a total value of $120,199.68. Following the sale, the insider directly owned 13,091 shares in the company, valued at approximately $1,821,219.92. This represents a 6.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,205 shares of company stock worth $2,353,002 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TransMedics Group

Institutional investors and hedge funds have recently modified their holdings of the business. Kensington Investment Counsel LLC bought a new stake in shares of TransMedics Group during the third quarter worth $1,926,000. Nordea Investment Management AB acquired a new position in TransMedics Group during the 3rd quarter worth approximately $4,070,000. Peregrine Capital Management LLC grew its stake in shares of TransMedics Group by 16.5% during the 3rd quarter. Peregrine Capital Management LLC now owns 68,406 shares of the company's stock worth $7,675,000 after acquiring an additional 9,676 shares in the last quarter. Fieldview Capital Management LLC bought a new position in TransMedics Group in the third quarter valued at $1,716,000. Finally, Citigroup Inc. increased its stake in TransMedics Group by 29.3% in the 3rd quarter. Citigroup Inc. now owns 76,785 shares of the company's stock valued at $8,615,000 after buying an additional 17,414 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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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