TransMedics Group (NASDAQ:TMDX) Stock Price Up 8.5% - Here's What Happened

Key Points

• Shares of TransMedics jumped 8.5% midday to about $118.43 from a prior close of $109.12, with only 171,261 shares trading — roughly 80% below the average session volume of 857,888.
• Several analysts raised targets (Oppenheimer to $175, Needham to $174, Stifel to $130), leaving a consensus rating of "Moderate Buy" and an average price target of $152.33.
• Insiders have been sellers recently: a total of 16,205 shares were sold in the last quarter (about $2.35M), including sales by directors David Weill and Nicholas Corcoran, while insiders still own roughly 7% of the company.

TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report) shares shot up 8.5% during mid-day trading on Friday . The stock traded as high as $117.00 and last traded at $118.4260. 171,261 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 857,888 shares. The stock had previously closed at $109.12.

Wall Street Analysts Forecast Growth

TMDX has been the topic of a number of recent analyst reports. Oppenheimer increased their price target on shares of TransMedics Group from $150.00 to $175.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 25th. Stifel Nicolaus increased their target price on TransMedics Group from $115.00 to $130.00 and gave the stock a "hold" rating in a research report on Monday, March 9th. Needham & Company LLC boosted their price target on TransMedics Group from $166.00 to $174.00 and gave the company a "buy" rating in a research report on Wednesday, February 25th. Wall Street Zen downgraded TransMedics Group from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Finally, TD Cowen reiterated a "buy" rating on shares of TransMedics Group in a report on Monday, March 16th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $152.33.

TransMedics Group Trading Up 7.1%

The firm has a fifty day moving average of $122.33 and a 200-day moving average of $126.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 6.59 and a current ratio of 7.14. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 23.84 and a beta of 2.09.

Insider Buying and Selling at TransMedics Group

In related news, Director David Weill sold 3,571 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $146.82, for a total transaction of $524,294.22. Following the transaction, the director directly owned 12,134 shares of the company's stock, valued at approximately $1,781,513.88. The trade was a 22.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Corcoran sold 2,966 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 $412,629.92. Following the completion of the transaction, the insider owned 29,831 shares of the company's stock, valued at approximately $4,150,088.72. This represents a 9.04% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 16,205 shares of company stock worth $2,353,002. Insiders own 7.00% of the company's stock.

Hedge Funds Weigh In On TransMedics Group

Institutional investors have recently added to or reduced their stakes in the company. Values First Advisors Inc. grew its stake in shares of TransMedics Group by 3.1% during the first quarter. Values First Advisors Inc. now owns 5,944 shares of the company's stock valued at $591,000 after acquiring an additional 181 shares in the last quarter. Campbell Newman Asset Management Inc. grew its stake in TransMedics Group by 1.7% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 12,248 shares of the company's stock valued at $1,218,000 after purchasing an additional 209 shares in the last quarter. Strong Tower Advisory Services purchased a new stake in TransMedics Group during the 1st quarter worth approximately $884,000. Corient Private Wealth LLC raised its position in shares of TransMedics Group by 32.5% in the 4th quarter. Corient Private Wealth LLC now owns 3,084 shares of the company's stock valued at $375,000 after purchasing an additional 757 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of TransMedics Group during the 4th quarter valued at approximately $162,000. Institutional investors and hedge funds own 99.67% of the company's stock.

About TransMedics Group

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.

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