Shares of TransMedics Group, Inc. (NASDAQ:TMDX – Get Free Report) reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $171.98 and last traded at $161.33, with a volume of 740111 shares trading hands. The stock had previously closed at $142.26.
The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.14. TransMedics Group had a net margin of 0.84% and a return on equity of 17.37%. The company had revenue of $114.30 million during the quarter, compared to the consensus estimate of $98.84 million. During the same period last year, the firm earned ($0.03) EPS. The company’s revenue for the quarter was up 117.7% on a year-over-year basis.
Analyst Ratings Changes
TMDX has been the subject of a number of research reports. Oppenheimer lifted their price target on shares of TransMedics Group from $125.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Piper Sandler raised their price objective on shares of TransMedics Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley raised their price objective on shares of TransMedics Group from $104.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Stephens raised their price objective on shares of TransMedics Group from $151.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Canaccord Genuity Group raised their price objective on shares of TransMedics Group from $117.00 to $169.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $166.88.
Read Our Latest Research Report on TransMedics Group
Insiders Place Their Bets
In other news, CEO Waleed H. Hassanein sold 8,625 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $145.17, for a total transaction of $1,252,091.25. Following the completion of the sale, the chief executive officer now directly owns 61,643 shares of the company’s stock, valued at approximately $8,948,714.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Stephen Gordon sold 15,000 shares of TransMedics Group stock in a transaction on Monday, May 6th. The shares were sold at an average price of $128.00, for a total transaction of $1,920,000.00. Following the transaction, the chief financial officer now owns 23,299 shares in the company, valued at approximately $2,982,272. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Waleed H. Hassanein sold 8,625 shares of TransMedics Group stock in a transaction on Monday, July 15th. The shares were sold at an average price of $145.17, for a total transaction of $1,252,091.25. Following the transaction, the chief executive officer now owns 61,643 shares in the company, valued at approximately $8,948,714.31. The disclosure for this sale can be found here. In the last three months, insiders sold 101,342 shares of company stock valued at $13,642,015. Company insiders own 7.00% of the company’s stock.
Hedge Funds Weigh In On TransMedics Group
Several hedge funds and other institutional investors have recently made changes to their positions in TMDX. Vanguard Group Inc. lifted its holdings in TransMedics Group by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,814,442 shares of the company’s stock worth $99,341,000 after buying an additional 29,798 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in TransMedics Group by 10.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 397,283 shares of the company’s stock worth $31,358,000 after buying an additional 38,951 shares in the last quarter. Moody Aldrich Partners LLC lifted its holdings in TransMedics Group by 110.3% in the 4th quarter. Moody Aldrich Partners LLC now owns 46,312 shares of the company’s stock worth $3,655,000 after buying an additional 24,290 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new position in TransMedics Group in the 4th quarter worth $500,000. Finally, Russell Investments Group Ltd. lifted its holdings in TransMedics Group by 337,462.5% in the 1st quarter. Russell Investments Group Ltd. now owns 27,005 shares of the company’s stock worth $1,997,000 after buying an additional 26,997 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.
TransMedics Group Price Performance
The business’s fifty day simple moving average is $144.02 and its 200 day simple moving average is $111.05. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of -441.47 and a beta of 1.99. The company has a debt-to-equity ratio of 3.18, a quick ratio of 8.76 and a current ratio of 9.72.
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.
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