TransMedics Group (NASDAQ:TMDX) Trading Down 9% – Here’s What Happened

TransMedics Group, Inc. (NASDAQ:TMDX)’s stock price fell 9% during trading on Friday . The stock traded as low as $80.38 and last traded at $80.38. 1,600,575 shares traded hands during trading, an increase of 66% from the average session volume of 966,487 shares. The stock had previously closed at $88.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Oppenheimer lowered their target price on shares of TransMedics Group from $200.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Robert W. Baird lowered their price objective on TransMedics Group from $200.00 to $150.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. cut their target price on TransMedics Group from $173.00 to $116.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Baird R W upgraded TransMedics Group to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Canaccord Genuity Group dropped their price objective on TransMedics Group from $169.00 to $109.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, TransMedics Group has a consensus rating of “Buy” and a consensus price target of $144.80.

TransMedics Group Price Performance

The stock has a market cap of $2.70 billion, a P/E ratio of 85.62 and a beta of 2.08. The business has a 50 day simple moving average of $125.63 and a 200-day simple moving average of $139.09. The company has a debt-to-equity ratio of 2.42, a quick ratio of 7.33 and a current ratio of 8.20.

TransMedics Group (NASDAQ:TMDX) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.17). TransMedics Group had a net margin of 8.14% and a return on equity of 18.74%. The company had revenue of $108.76 million for the quarter, compared to the consensus estimate of $115.00 million. During the same quarter in the previous year, the company posted ($0.12) EPS. TransMedics Group’s quarterly revenue was up 63.7% compared to the same quarter last year. On average, sell-side analysts forecast that TransMedics Group, Inc. will post 1.07 EPS for the current year.

Insider Activity at TransMedics Group

In other news, insider Nicholas Corcoran sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $176.02, for a total transaction of $1,760,200.00. Following the transaction, the insider now owns 21,105 shares of the company’s stock, valued at $3,714,902.10. This represents a 32.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward M. Basile sold 6,750 shares of the stock in a transaction 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 owns 732 shares of the company’s stock, valued at $61,158.60. The trade was a 90.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,958 shares of company stock worth $5,230,528. Insiders own 7.00% of the company’s stock.

Institutional Trading of TransMedics Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. grew its stake 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 valued at $1,997,000 after buying an additional 26,997 shares in the last quarter. ProShare Advisors LLC grew its position in shares of TransMedics Group by 7.8% in the first quarter. ProShare Advisors LLC now owns 5,871 shares of the company’s stock valued at $434,000 after purchasing an additional 427 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of TransMedics Group in the first quarter valued at $201,000. State Board of Administration of Florida Retirement System raised its stake in shares of TransMedics Group by 8.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 9,843 shares of the company’s stock valued at $745,000 after purchasing an additional 780 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in TransMedics Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,889,094 shares of the company’s stock worth $139,680,000 after purchasing an additional 23,979 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

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.