TransMedics Group (NASDAQ:TMDX) Trading Down 5% - Here's Why

Key Points

• TransMedics shares fell about 5% on Thursday to roughly $110 intraday, with volume of 510,054 shares—about 41% below its average session volume and down from a prior close of $116.11.
• Wall Street remains broadly positive: the stock carries an average rating of "Moderate Buy" with a consensus price target of $152.33, implying roughly a 38% upside from current levels.
• Insiders have been net sellers recently—16,205 shares worth about $2.35M were sold over the last 90 days—while institutional ownership is very high at 99.67% and insiders still hold 7% of the company.

TransMedics Group, Inc. (NASDAQ:TMDX - Get Free Report)'s stock price traded down 5% during trading on Thursday . The company traded as low as $109.71 and last traded at $110.3250. 510,054 shares were traded during trading, a decline of 41% from the average session volume of 860,920 shares. The stock had previously closed at $116.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. TD Cowen reiterated a "buy" rating on shares of TransMedics Group in a research report on Monday, March 16th. Piper Sandler raised their target price on TransMedics Group from $140.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. raised their price objective on TransMedics Group from $114.00 to $149.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 25th. Oppenheimer increased their target price on shares of TransMedics Group from $150.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, February 25th. Finally, Canaccord Genuity Group boosted their price target on shares of TransMedics Group from $147.00 to $148.00 and gave the stock a "buy" rating in a research report on Wednesday, December 17th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, TransMedics Group currently has an average rating of "Moderate Buy" and a consensus price target of $152.33.

TransMedics Group Trading Down 6.0%

The firm's 50-day moving average price is $122.74 and its 200 day moving average price is $126.37. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 22.27 and a beta of 2.09. The company has a current ratio of 7.14, a quick ratio of 6.59 and a debt-to-equity ratio of 1.06.

Insider Activity

In other news, insider Nicholas Corcoran sold 2,966 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $139.12, for a total value of $412,629.92. Following the completion of the sale, the insider owned 29,831 shares in the company, valued at $4,150,088.72. This represents a 9.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Anil P. Ranganath sold 864 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $139.12, for a total transaction of $120,199.68. Following the completion of the sale, the insider directly owned 13,091 shares of the company's stock, valued at $1,821,219.92. The trade was a 6.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 16,205 shares of company stock valued at $2,353,002. Corporate insiders own 7.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TMDX. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of TransMedics Group by 981.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 227 shares of the company's stock valued at $26,000 after purchasing an additional 206 shares during the last quarter. Salomon & Ludwin LLC bought a new position in TransMedics Group during the 3rd quarter worth approximately $28,000. Harvest Fund Management Co. Ltd bought a new stake in TransMedics Group in the third quarter valued at approximately $29,000. Optiver Holding B.V. boosted its stake in shares of TransMedics Group by 248.1% during the third quarter. Optiver Holding B.V. now owns 268 shares of the company's stock valued at $30,000 after purchasing an additional 191 shares during the period. Finally, Allworth Financial LP boosted its position in TransMedics Group by 74.3% during the 3rd quarter. Allworth Financial LP now owns 265 shares of the company's stock valued at $30,000 after buying an additional 113 shares during the period. 99.67% of the stock is currently owned by institutional investors.

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.

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