TransMedics Group (NASDAQ:TMDX) Shares Up 7.1% - Here's What Happened

Key Points

• TransMedics Group shares rose 7.1% on Monday, trading as high as $68.38 after closing at $63.20, though volume was well below average.
• Despite the stock move, the company recently reported mixed quarterly results: revenue came in roughly in line with expectations, but EPS of $0.30 missed the $0.62 consensus estimate.
• Analyst sentiment remains mixed after several target-price cuts, with the stock holding a Moderate Buy rating and an average price target of $135.

Shares of TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report) traded up 7.1% on Monday . The company traded as high as $68.38 and last traded at $67.7150. 214,221 shares were traded during mid-day trading, a decline of 80% from the average session volume of 1,057,757 shares. The stock had previously closed at $63.20.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TMDX. Canaccord Genuity Group reduced their target price on shares of TransMedics Group from $152.00 to $124.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. TD Cowen cut their price objective on TransMedics Group from $190.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Stifel Nicolaus reduced their price objective on TransMedics Group from $130.00 to $85.00 and set a "hold" rating on the stock in a research note on Wednesday, May 6th. Needham & Company LLC decreased their target price on TransMedics Group from $174.00 to $142.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. Finally, Wall Street Zen cut TransMedics Group from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $135.00.

TransMedics Group Stock Performance

The stock's 50-day simple moving average is $104.66 and its 200 day simple moving average is $122.77. The company has a market capitalization of $2.33 billion, a PE ratio of 15.33 and a beta of 2.07. The company has a debt-to-equity ratio of 1.70, a quick ratio of 6.19 and a current ratio of 6.74.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.32). TransMedics Group had a return on equity of 22.38% and a net margin of 27.04%.The firm had revenue of $173.93 million for the quarter, compared to analyst estimates of $174.44 million. During the same quarter in the previous year, the firm posted $0.70 EPS. The business's revenue for the quarter was up 21.2% on a year-over-year basis. As a group, research analysts expect that TransMedics Group, Inc. will post 1.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Anil P. Ranganath sold 864 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $139.12, for a total value of $120,199.68. Following the completion of the transaction, the insider directly owned 13,091 shares of the company's stock, valued at $1,821,219.92. This represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gerardo Hernandez sold 7,236 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $147.21, for a total transaction of $1,065,211.56. Following the completion of the transaction, the chief financial officer owned 14,689 shares in the company, valued at $2,162,367.69. This represents a 33.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 16,205 shares of company stock worth $2,353,002. 6.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TransMedics Group

Several large investors have recently bought and sold shares of TMDX. Quantinno Capital Management LP grew its holdings in shares of TransMedics Group by 197.9% during the first quarter. Quantinno Capital Management LP now owns 8,059 shares of the company's stock worth $801,000 after purchasing an additional 5,354 shares during the last quarter. Beaconlight Capital LLC lifted its holdings in shares of TransMedics Group by 44.8% in the 1st quarter. Beaconlight Capital LLC now owns 42,478 shares of the company's stock valued at $4,223,000 after purchasing an additional 13,134 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of TransMedics Group by 8.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 14,666 shares of the company's stock valued at $1,458,000 after purchasing an additional 1,094 shares during the period. Keebeck Wealth Management grew its stake in TransMedics Group by 12.4% during the 1st quarter. Keebeck Wealth Management now owns 5,175 shares of the company's stock worth $514,000 after buying an additional 572 shares during the last quarter. Finally, Sei Investments Co. grew its stake in TransMedics Group by 25.9% during the 1st quarter. Sei Investments Co. now owns 69,629 shares of the company's stock worth $6,922,000 after buying an additional 14,338 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

TransMedics Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.