TransMedics Group (NASDAQ:TMDX) Sees Unusually-High Trading Volume – Here’s What Happened

TransMedics Group, Inc. (NASDAQ:TMDX) shares saw unusually-high trading volume on Thursday . Approximately 976,788 shares were traded during mid-day trading, a decline of 8% from the previous session’s volume of 1,057,560 shares.The stock last traded at $66.92 and had previously closed at $62.35.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TMDX. Robert W. Baird lowered their price objective on TransMedics Group from $150.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Canaccord Genuity Group dropped their price target on shares of TransMedics Group from $109.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday, November 20th. TD Cowen reduced their price objective on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Oppenheimer restated an “outperform” rating and issued a $125.00 target price on shares of TransMedics Group in a report on Tuesday, December 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of TransMedics Group in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, TransMedics Group has an average rating of “Moderate Buy” and a consensus target price of $122.70.

TransMedics Group Trading Up 3.9 %

The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 73.50 and a beta of 2.06. The business’s 50 day simple moving average is $75.83 and its 200 day simple moving average is $123.54. The company has a debt-to-equity ratio of 2.42, a current ratio of 8.20 and a quick ratio of 7.33.

TransMedics Group (NASDAQ:TMDX) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.12 EPS 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 analysts’ expectations of $115.00 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The firm’s revenue was up 63.7% on a year-over-year basis. Research analysts anticipate that TransMedics Group, Inc. will post 1 EPS for the current year.

Insider Activity at TransMedics Group

In other TransMedics Group news, Director Edward M. Basile sold 6,750 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.55, for a total transaction of $563,962.50. Following the sale, the director now directly owns 732 shares in the company, valued at approximately $61,158.60. The trade was a 90.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tamer I. Khayal sold 1,084 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $86.40, for a total transaction of $93,657.60. Following the completion of the transaction, the insider now owns 20,843 shares of the company’s stock, valued at $1,800,835.20. This represents a 4.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,459 shares of company stock worth $1,802,244 in the last three months. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC grew its holdings in shares of TransMedics Group by 15.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,486,073 shares of the company’s stock worth $223,832,000 after acquiring an additional 202,867 shares during the period. Principal Financial Group Inc. raised its stake in shares of TransMedics Group by 260.1% during the 3rd quarter. Principal Financial Group Inc. now owns 202,287 shares of the company’s stock worth $31,759,000 after buying an additional 146,115 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in shares of TransMedics Group in the 2nd quarter worth about $18,854,000. Canada Pension Plan Investment Board purchased a new position in TransMedics Group during the 2nd quarter valued at about $16,086,000. Finally, Public Sector Pension Investment Board acquired a new position in TransMedics Group during the third quarter worth about $11,079,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

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.