TransMedics Group (NASDAQ:TMDX) Stock Price Down 9.5% – What’s Next?

TransMedics Group, Inc. (NASDAQ:TMDX) shares fell 9.5% during mid-day trading on Monday . The company traded as low as $62.24 and last traded at $62.26. 622,869 shares traded hands during trading, a decline of 83% from the average session volume of 3,603,287 shares. The stock had previously closed at $68.81.

Analyst Ratings Changes

A number of research analysts have weighed in on TMDX shares. Robert W. Baird reduced their target price on TransMedics Group from $150.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. TD Cowen decreased their target price on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, November 18th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $75.00 price target (down from $116.00) on shares of TransMedics Group in a report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of TransMedics Group in a report on Wednesday, December 11th. Finally, Piper Sandler reduced their target price on TransMedics Group from $110.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.70.

TransMedics Group Stock Performance

The company has a 50 day simple moving average of $73.15 and a 200-day simple moving average of $119.58. The company has a debt-to-equity ratio of 2.42, a current ratio of 8.20 and a quick ratio of 7.33. The stock has a market cap of $2.10 billion, a P/E ratio of 66.53 and a beta of 2.12.

TransMedics Group (NASDAQ:TMDX) last issued its earnings results on Monday, October 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.17). The firm had revenue of $108.76 million during the quarter, compared to analysts’ expectations of $115.00 million. TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The firm’s quarterly revenue was up 63.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.12) EPS. On average, equities analysts expect that TransMedics Group, Inc. will post 1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TransMedics Group news, Director Edward M. Basile sold 6,750 shares of TransMedics Group stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.55, for a total value of $563,962.50. Following the transaction, the director now directly owns 732 shares of the company’s stock, valued at $61,158.60. The trade was a 90.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tamer I. Khayal sold 1,084 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $86.40, for a total value of $93,657.60. Following the sale, the insider now directly owns 20,843 shares of the company’s stock, valued at approximately $1,800,835.20. This trade represents a 4.94 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TMDX. USA Financial Formulas bought a new stake in TransMedics Group in the 3rd quarter worth $55,000. Quarry LP increased its holdings in TransMedics Group by 557.1% during the 3rd quarter. Quarry LP now owns 368 shares of the company’s stock valued at $58,000 after purchasing an additional 312 shares during the period. National Bank of Canada FI raised its position in TransMedics Group by 174.7% during the 3rd quarter. National Bank of Canada FI now owns 412 shares of the company’s stock valued at $65,000 after purchasing an additional 262 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in TransMedics Group by 187.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 485 shares of the company’s stock worth $76,000 after buying an additional 316 shares during the period. Finally, Rakuten Securities Inc. bought a new stake in shares of TransMedics Group in the 3rd quarter worth approximately $126,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

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.