Shares of TransMedics Group, Inc. (NASDAQ:TMDX – Get Rating) traded down 2.6% during trading on Friday following insider selling activity. The stock traded as low as $52.59 and last traded at $53.02. 1,942 shares changed hands during trading, a decline of 100% from the average session volume of 440,990 shares. The stock had previously closed at $54.44.
Specifically, VP John F. Carey sold 2,956 shares of TransMedics Group stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $32.57, for a total transaction of $96,276.92. Following the transaction, the vice president now owns 379 shares of the company's stock, valued at $12,344.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other TransMedics Group news, VP John F. Carey sold 2,956 shares of the business's stock in a transaction on Friday, June 24th. The stock was sold at an average price of $32.57, for a total value of $96,276.92. Following the transaction, the vice president now owns 379 shares of the company's stock, valued at $12,344.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Tobin sold 48,515 shares of the business's stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $35.00, for a total value of $1,698,025.00. Following the completion of the transaction, the director now directly owns 302,106 shares in the company, valued at approximately $10,573,710. The disclosure for this sale can be found here. Insiders have sold a total of 183,905 shares of company stock valued at $7,240,928 over the last 90 days. Insiders own 8.70% of the company's stock.
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Wall Street Analysts Forecast Growth
Several analysts have issued reports on TMDX shares. Cowen boosted their target price on TransMedics Group from $39.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, July 26th. Cowen boosted their target price on TransMedics Group from $45.00 to $50.00 in a research note on Tuesday, August 2nd. JPMorgan Chase & Co. upgraded TransMedics Group from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $26.00 to $48.00 in a research note on Tuesday, August 2nd. Canaccord Genuity Group boosted their target price on TransMedics Group from $46.00 to $58.00 in a research note on Thursday, August 4th. Finally, Morgan Stanley boosted their price objective on TransMedics Group from $34.00 to $37.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.00.
TransMedics Group Price Performance
The firm has a market capitalization of $1.50 billion, a P/E ratio of -31.04 and a beta of 1.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.41 and a current ratio of 4.18. The business has a 50 day simple moving average of $42.74 and a two-hundred day simple moving average of $31.24.
TransMedics Group (NASDAQ:TMDX – Get Rating) last announced its earnings results on Monday, August 1st. The company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.09). The business had revenue of $20.52 million during the quarter, compared to the consensus estimate of $16.26 million. TransMedics Group had a negative return on equity of 74.20% and a negative net margin of 92.76%. During the same quarter in the prior year, the company earned ($0.39) earnings per share. On average, sell-side analysts expect that TransMedics Group, Inc. will post -1.57 EPS for the current fiscal year.
Hedge Funds Weigh In On TransMedics Group
A number of institutional investors have recently added to or reduced their stakes in TMDX. Envestnet Asset Management Inc. boosted its holdings in shares of TransMedics Group by 1.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 54,236 shares of the company's stock worth $1,039,000 after purchasing an additional 949 shares in the last quarter. Essex Investment Management Co. LLC boosted its holdings in shares of TransMedics Group by 8.4% in the 4th quarter. Essex Investment Management Co. LLC now owns 82,255 shares of the company's stock worth $1,576,000 after purchasing an additional 6,396 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in shares of TransMedics Group in the 4th quarter worth about $97,000. HarbourVest Partners LLC purchased a new position in shares of TransMedics Group in the 4th quarter worth about $2,225,000. Finally, GSA Capital Partners LLP purchased a new position in shares of TransMedics Group in the 4th quarter worth about $642,000. 81.46% of the stock is currently owned by institutional investors.
TransMedics Group Company Profile
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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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