TransMedics Group (NASDAQ:TMDX) Sets New 52-Week High Following Better-Than-Expected Earnings

TransMedics Group, Inc. (NASDAQ:TMDX) hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $171.98 and last traded at $161.33, with a volume of 740111 shares. The stock had previously closed at $142.26.

The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.14. TransMedics Group had a negative net margin of 3.43% and a positive return on equity of 7.95%. The business had revenue of $114.30 million for the quarter, compared to the consensus estimate of $98.84 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The firm’s quarterly revenue was up 117.7% on a year-over-year basis.

Analyst Ratings Changes

TMDX has been the topic of several research reports. TD Cowen upped their price objective on TransMedics Group from $130.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Oppenheimer upped their price target on TransMedics Group from $125.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley raised their target price on shares of TransMedics Group from $104.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Piper Sandler lifted their target price on shares of TransMedics Group from $120.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Stephens initiated coverage on TransMedics Group in a research note on Tuesday, June 4th. They issued an “overweight” rating and a $151.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.75.

Insider Activity

In other TransMedics Group news, Director James R. Tobin sold 12,025 shares of TransMedics Group stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $125.05, for a total transaction of $1,503,726.25. Following the transaction, the director now directly owns 193,146 shares in the company, valued at $24,152,907.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other TransMedics Group news, Director James R. Tobin sold 12,025 shares of TransMedics Group stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $125.05, for a total value of $1,503,726.25. Following the transaction, the director now owns 193,146 shares of the company’s stock, valued at $24,152,907.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Weill sold 2,500 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $129.82, for a total transaction of $324,550.00. Following the sale, the director now directly owns 11,193 shares of the company’s stock, valued at approximately $1,453,075.26. The disclosure for this sale can be found here. Insiders sold 113,367 shares of company stock valued at $15,145,741 in the last quarter. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in shares of TransMedics Group during the 2nd quarter worth about $241,000. Commonwealth Equity Services LLC raised its holdings in TransMedics Group by 62.2% during the second quarter. Commonwealth Equity Services LLC now owns 6,497 shares of the company’s stock worth $979,000 after acquiring an additional 2,491 shares in the last quarter. Matisse Capital acquired a new position in TransMedics Group during the second quarter valued at approximately $452,000. International Assets Investment Management LLC bought a new position in TransMedics Group in the second quarter valued at approximately $47,000. Finally, Signaturefd LLC increased its position in shares of TransMedics Group by 26.6% during the 2nd quarter. Signaturefd LLC now owns 443 shares of the company’s stock worth $67,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

TransMedics Group Trading Up 11.8 %

The company has a market cap of $5.24 billion, a P/E ratio of -470.59 and a beta of 1.98. The company has a current ratio of 9.72, a quick ratio of 8.76 and a debt-to-equity ratio of 3.18. The business has a 50 day moving average price of $143.54 and a 200-day moving average price of $110.29.

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.