TransMedics Group (NASDAQ:TMDX) Shares Down 6.8% – Here’s What Happened

TransMedics Group, Inc. (NASDAQ:TMDX) shares fell 6.8% during mid-day trading on Monday . The company traded as low as $69.39 and last traded at $67.66. 152,091 shares traded hands during trading, a decline of 94% from the average session volume of 2,439,527 shares. The stock had previously closed at $72.60.

Analyst Ratings Changes

TMDX has been the topic of several recent research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $75.00 price target (down previously from $116.00) on shares of TransMedics Group in a report on Tuesday, December 17th. TD Cowen lowered their target price on TransMedics Group from $175.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Oppenheimer reissued an “outperform” rating and set a $125.00 price target on shares of TransMedics Group in a research report on Tuesday, December 3rd. Needham & Company LLC restated a “hold” rating on shares of TransMedics Group in a research report on Wednesday, February 5th. Finally, Piper Sandler dropped their price objective 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 investment analysts have rated the stock with a hold rating, seven have issued 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 a consensus price target of $122.70.

TransMedics Group Trading Down 3.0 %

The company has a current ratio of 8.20, a quick ratio of 7.33 and a debt-to-equity ratio of 2.42. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 72.46 and a beta of 2.12. The business has a 50 day simple moving average of $65.81 and a 200-day simple moving average of $108.49.

Insider Buying and Selling

In related news, insider Tamer I. Khayal sold 1,084 shares of TransMedics Group stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.40, for a total value of $93,657.60. Following the transaction, the insider now owns 20,843 shares in the company, valued at approximately $1,800,835.20. This trade represents a 4.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On TransMedics Group

Large investors have recently modified their holdings of the company. Harbour Capital Advisors LLC grew its holdings in shares of TransMedics Group by 1.7% during the 3rd quarter. Harbour Capital Advisors LLC now owns 4,841 shares of the company’s stock worth $760,000 after purchasing an additional 81 shares during the period. Arizona State Retirement System grew its stake in TransMedics Group by 1.9% during the fourth quarter. Arizona State Retirement System now owns 9,668 shares of the company’s stock worth $603,000 after buying an additional 184 shares during the period. Venturi Wealth Management LLC grew its stake in TransMedics Group by 33.7% during the third quarter. Venturi Wealth Management LLC now owns 869 shares of the company’s stock worth $136,000 after buying an additional 219 shares during the period. National Bank of Canada FI increased its position in shares of TransMedics Group by 174.7% in the third quarter. National Bank of Canada FI now owns 412 shares of the company’s stock worth $65,000 after acquiring an additional 262 shares in the last quarter. Finally, Quarry LP raised its stake in shares of TransMedics Group by 557.1% in the 3rd quarter. Quarry LP now owns 368 shares of the company’s stock valued at $58,000 after acquiring an additional 312 shares during the period. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

About TransMedics Group

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.