TransMedics Group (NASDAQ:TMDX) Shares Down 4.9% - Here's What Happened

TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report) shares traded down 4.9% during trading on Wednesday . The company traded as low as $125.52 and last traded at $129.51. 418,244 shares traded hands during trading, a decline of 69% from the average session volume of 1,357,738 shares. The stock had previously closed at $136.20.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TMDX shares. Piper Sandler reiterated 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. Canaccord Genuity Group reiterated a "buy" rating and set a $104.00 target price on shares of TransMedics Group in a research report on Tuesday, March 11th. Needham & Company LLC reissued a "hold" rating on shares of TransMedics Group in a research note on Tuesday. Finally, Oppenheimer boosted their target price on shares of TransMedics Group from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.33.

TransMedics Group Price Performance

The company has a current ratio of 9.10, a quick ratio of 8.32 and a debt-to-equity ratio of 1.92. The firm's 50-day moving average price is $114.23 and its two-hundred day moving average price is $84.05. The stock has a market cap of $4.18 billion, a PE ratio of 90.85 and a beta of 2.10.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.41. The company had revenue of $143.54 million during the quarter, compared to analyst estimates of $123.39 million. TransMedics Group had a return on equity of 21.88% and a net margin of 10.03%. TransMedics Group's revenue was up 48.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, equities analysts expect that TransMedics Group, Inc. will post 1 earnings per share for the current fiscal year.

Insider Buying and Selling at TransMedics Group

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of TransMedics Group by 244.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,113,082 shares of the company's stock worth $209,448,000 after buying an additional 2,209,996 shares during the period. Goldman Sachs Group Inc. raised its stake in TransMedics Group by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 507,510 shares of the company's stock worth $34,145,000 after acquiring an additional 86,721 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in TransMedics Group by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,525 shares of the company's stock worth $1,314,000 after acquiring an additional 868 shares during the last quarter. Royal Bank of Canada lifted its position in TransMedics Group by 47.9% during the 1st quarter. Royal Bank of Canada now owns 26,582 shares of the company's stock worth $1,788,000 after acquiring an additional 8,604 shares during the period. Finally, Quarry LP grew its stake in TransMedics Group by 88.5% during the 1st quarter. Quarry LP now owns 592 shares of the company's stock valued at $40,000 after purchasing an additional 278 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

About TransMedics Group

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.