TransMedics Group (NASDAQ:TMDX) Announces Quarterly Earnings Results, Beats Expectations By $0.14 EPS

TransMedics Group (NASDAQ:TMDX) posted its quarterly earnings results on Wednesday. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.14, Briefing.com reports. TransMedics Group had a net margin of 0.84% and a return on equity of 17.37%. The business had revenue of $114.30 million during the quarter, compared to the consensus estimate of $98.84 million. During the same quarter last year, the firm posted ($0.03) EPS. TransMedics Group’s revenue was up 117.7% compared to the same quarter last year. TransMedics Group updated its FY 2024 guidance to EPS.

TransMedics Group Trading Up 6.5 %

Shares of TMDX opened at $151.51 on Friday. TransMedics Group has a twelve month low of $36.42 and a twelve month high of $171.98. The company has a quick ratio of 8.76, a current ratio of 9.72 and a debt-to-equity ratio of 3.18. The stock has a market cap of $4.99 billion, a PE ratio of -445.62 and a beta of 1.99. The business’s 50-day moving average price is $143.82 and its 200-day moving average price is $110.58.

Insider Transactions at TransMedics Group

In other news, CEO Waleed H. Hassanein sold 30,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $130.07, for a total transaction of $3,902,100.00. Following the completion of the transaction, the chief executive officer now owns 61,643 shares of the company’s stock, valued at $8,017,905.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Waleed H. Hassanein sold 30,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $130.07, for a total transaction of $3,902,100.00. Following the completion of the transaction, the chief executive officer now owns 61,643 shares of the company’s stock, valued at $8,017,905.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Corcoran sold 3,222 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $129.91, for a total value of $418,570.02. Following the transaction, the insider now directly owns 21,105 shares of the company’s stock, valued at approximately $2,741,750.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,342 shares of company stock valued at $13,642,015. 7.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TMDX. Canaccord Genuity Group lifted their price target on shares of TransMedics Group from $117.00 to $169.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of TransMedics Group from $105.00 to $127.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Morgan Stanley boosted their price target on shares of TransMedics Group from $104.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Piper Sandler boosted their price target on shares of TransMedics Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Stephens initiated coverage on shares of TransMedics Group in a report 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $163.50.

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.