TransMedics Group (NASDAQ:TMDX) Sets New 52-Week High After Strong Earnings

TransMedics Group, Inc. (NASDAQ:TMDX)’s share price hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $121.92 and last traded at $119.11, with a volume of 1457982 shares. The stock had previously closed at $94.13.

The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.40. The company had revenue of $96.90 million during the quarter, compared to analysts’ expectations of $83.78 million. TransMedics Group had a negative return on equity of 2.35% and a negative net margin of 10.36%. TransMedics Group’s quarterly revenue was up 132.9% on a year-over-year basis. During the same period last year, the business earned ($0.08) earnings per share.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Oppenheimer lifted their price target on TransMedics Group from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $120.00 price target (up from $95.00) on shares of TransMedics Group in a research report on Wednesday. Morgan Stanley lifted their price target on TransMedics Group from $75.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. boosted their price objective on TransMedics Group from $105.00 to $127.00 and gave the company an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.40.

Insider Activity

In other news, insider Tamer I. Khayal sold 15,512 shares of TransMedics Group stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $90.45, for a total value of $1,403,060.40. Following the sale, the insider now directly owns 25,185 shares of the company’s stock, valued at $2,277,983.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Tamer I. Khayal sold 15,512 shares of TransMedics Group stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $90.45, for a total value of $1,403,060.40. Following the sale, the insider now directly owns 25,185 shares of the company’s stock, valued at $2,277,983.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Waleed H. Hassanein sold 4,000 shares of TransMedics Group stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $95.12, for a total value of $380,480.00. Following the completion of the sale, the chief executive officer now directly owns 74,087 shares in the company, valued at $7,047,155.44. The disclosure for this sale can be found here. Insiders sold 117,078 shares of company stock worth $9,972,971 over the last three months. 6.70% of the stock is currently owned by corporate insiders.

Institutional Trading of TransMedics Group

Several large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its holdings in TransMedics Group by 3.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 730,010 shares of the company’s stock valued at $53,977,000 after buying an additional 21,737 shares in the last quarter. Peregrine Capital Management LLC grew its holdings in shares of TransMedics Group by 9.6% during the 1st quarter. Peregrine Capital Management LLC now owns 75,267 shares of the company’s stock worth $5,565,000 after purchasing an additional 6,580 shares during the period. SYSTM Wealth Solutions LLC grew its holdings in shares of TransMedics Group by 5.3% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 15,851 shares of the company’s stock worth $1,172,000 after purchasing an additional 801 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of TransMedics Group during the 1st quarter worth $30,000. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of TransMedics Group by 59.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 27,577 shares of the company’s stock worth $2,039,000 after purchasing an additional 10,325 shares during the period. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

TransMedics Group Trading Up 24.2 %

The firm has a market capitalization of $3.83 billion, a PE ratio of -155.06 and a beta of 1.99. The company has a current ratio of 9.30, a quick ratio of 8.49 and a debt-to-equity ratio of 3.69. The business has a fifty day moving average price of $83.23 and a two-hundred day moving average price of $75.63.

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.