TransMedics Group (NASDAQ:TMDX) Stock Price Down 5.1% - Here's Why

TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report) shares dropped 5.1% during trading on Monday . The company traded as low as $89.65 and last traded at $88.71. Approximately 667,557 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 1,351,495 shares. The stock had previously closed at $93.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of TransMedics Group in a research note on Wednesday, April 23rd. Canaccord Genuity Group reissued a "buy" rating and set a $104.00 price objective on shares of TransMedics Group in a research report on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, TransMedics Group currently has a consensus rating of "Moderate Buy" and an average target price of $122.70.

TransMedics Group Price Performance

The company's 50-day moving average price is $74.46 and its 200-day moving average price is $77.42. The company has a quick ratio of 7.33, a current ratio of 8.20 and a debt-to-equity ratio of 2.42. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 95.95 and a beta of 2.14.

Institutional Investors Weigh In On TransMedics Group

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of TransMedics Group by 1.1% during 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. FIL Ltd grew its stake in TransMedics Group by 28.0% during the 4th quarter. FIL Ltd now owns 1,000,358 shares of the company's stock worth $62,372,000 after purchasing an additional 218,961 shares in the last quarter. Braidwell LP purchased a new stake in TransMedics Group during the 4th quarter worth about $57,493,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in TransMedics Group by 16.6% in 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 valued at $56,307,000 after purchasing an additional 128,474 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of TransMedics Group by 73.0% in the 4th quarter. Mackenzie Financial Corp now owns 828,147 shares of the company's stock valued at $51,635,000 after buying an additional 349,403 shares during the period. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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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