TransMedics Group (NASDAQ:TMDX) Shares Gap Up Following Better-Than-Expected Earnings

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $107.70, but opened at $123.61. TransMedics Group shares last traded at $119.99, with a volume of 921,792 shares changing hands.

The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.44. TransMedics Group had a net margin of 10.03% and a return on equity of 21.88%. The business had revenue of $157.37 million during the quarter, compared to analysts' expectations of $146.64 million. During the same period last year, the firm posted $0.35 earnings per share. The business's revenue was up 37.7% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several research firms have commented on TMDX. Oppenheimer boosted their target price on TransMedics Group from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Tuesday, June 17th. Canaccord Genuity Group lifted their price target on TransMedics Group from $129.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, July 15th. Piper Sandler reissued an "overweight" rating and set a $145.00 price target (up previously from $125.00) on shares of TransMedics Group in a report on Wednesday, June 4th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of TransMedics Group in a report on Tuesday, June 17th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, TransMedics Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.88.

Insider Buying and Selling

In related news, Director Edward M. Basile sold 6,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $115.63, for a total value of $693,780.00. Following the transaction, the director directly owned 732 shares of the company's stock, valued at approximately $84,641.16. This represents a 89.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anil P. Ranganath sold 686 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $139.80, for a total value of $95,902.80. Following the transaction, the insider directly owned 13,955 shares in the company, valued at $1,950,909. The trade was a 4.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,418 shares of company stock worth $1,512,613 in the last 90 days. 7.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On TransMedics Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of TransMedics Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,635,919 shares of the company's stock worth $226,700,000 after acquiring an additional 40,860 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of TransMedics Group by 244.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,113,082 shares of the company's stock valued at $209,448,000 after purchasing an additional 2,209,996 shares during the last quarter. FIL Ltd lifted its position in TransMedics Group by 28.0% in the fourth quarter. FIL Ltd now owns 1,000,358 shares of the company's stock worth $62,372,000 after buying an additional 218,961 shares during the last quarter. Braidwell LP purchased a new position in shares of TransMedics Group during the fourth quarter worth approximately $57,493,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in TransMedics Group by 16.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 903,086 shares of the company's stock worth $56,307,000 after purchasing an additional 128,474 shares during the period. Hedge funds and other institutional investors own 99.67% of the company's stock.

TransMedics Group Price Performance

The stock has a market capitalization of $4.10 billion, a P/E ratio of 89.98 and a beta of 2.06. The firm has a fifty day moving average of $124.67 and a two-hundred day moving average of $94.22. The company has a debt-to-equity ratio of 1.92, a current ratio of 9.10 and a quick ratio of 8.32.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.