TransMedics Group (NASDAQ:TMDX) Shares Gap Up - Here's What Happened

Key Points

• TransMedics Group's share price gapped up significantly, opening at $125.97 after a previous close of $114.50, indicating strong investor interest ahead of market opening.
• Several analysts have raised their price targets for TransMedics, with Oppenheimer setting a target of $150.00 while Morgan Stanley has an increased target of $123.00, reflecting a generally positive outlook.
• The company reported a 37.7% year-over-year revenue increase, with earnings per share of $0.92, exceeding consensus estimates and showcasing strong growth dynamics.

TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $114.50, but opened at $125.97. TransMedics Group shares last traded at $128.59, with a volume of 553,996 shares.

Analysts Set New Price Targets

A number of research analysts have issued reports on TMDX shares. Morgan Stanley increased their target price on shares of TransMedics Group from $115.00 to $123.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of TransMedics Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Needham & Company LLC reiterated a "hold" rating on shares of TransMedics Group in a research note on Tuesday, June 17th. Oppenheimer boosted their target price on shares of TransMedics Group from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 17th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price target (up from $125.00) on shares of TransMedics Group in a report on Wednesday, June 4th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.00.

TransMedics Group Trading Up 11.6%

The business's fifty day simple moving average is $123.84 and its 200 day simple moving average is $97.65. The company has a current ratio of 9.86, a quick ratio of 9.17 and a debt-to-equity ratio of 1.61. The stock has a market cap of $4.35 billion, a P/E ratio of 65.95 and a beta of 2.09.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.48 by $0.44. TransMedics Group had a net margin of 13.49% and a return on equity of 28.02%. The firm had revenue of $157.37 million for the quarter, compared to the consensus estimate of $146.64 million. During the same period last year, the company posted $0.35 EPS. The business's quarterly revenue was up 37.7% on a year-over-year basis. As a group, analysts expect that TransMedics Group, Inc. will post 1 EPS for the current year.

Insider Activity at TransMedics Group

In other TransMedics Group news, insider Anil P. Ranganath sold 686 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $139.80, for a total transaction of $95,902.80. Following the completion of the transaction, the insider owned 13,955 shares of the company's stock, valued at approximately $1,950,909. The trade was a 4.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward M. Basile sold 5,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $126.45, for a total value of $632,250.00. Following the sale, the director owned 2,866 shares in the company, valued at approximately $362,405.70. This trade represents a 63.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,418 shares of company stock valued at $818,833 over the last quarter. 7.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TransMedics Group

Several large investors have recently added to or reduced their stakes in TMDX. Intrust Bank NA bought a new stake in shares of TransMedics Group during the 2nd quarter valued at about $747,000. Semanteon Capital Management LP bought a new stake in TransMedics Group in the 2nd quarter worth approximately $1,505,000. Intech Investment Management LLC lifted its position in TransMedics Group by 28.9% in the 2nd quarter. Intech Investment Management LLC now owns 34,389 shares of the company's stock worth $4,608,000 after buying an additional 7,713 shares during the last quarter. Cetera Investment Advisers lifted its position in TransMedics Group by 56.8% in the 2nd quarter. Cetera Investment Advisers now owns 6,325 shares of the company's stock worth $848,000 after buying an additional 2,292 shares during the last quarter. Finally, Creative Planning lifted its position in TransMedics Group by 60.3% in the 2nd quarter. Creative Planning now owns 18,597 shares of the company's stock worth $2,492,000 after buying an additional 6,999 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

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.

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