TransMedics Group (NASDAQ:TMDX) Trading Down 7.4% – Here’s What Happened

TransMedics Group, Inc. (NASDAQ:TMDX) shares traded down 7.4% during trading on Wednesday . The stock traded as low as $117.67 and last traded at $115.48. 207,170 shares were traded during mid-day trading, a decline of 74% from the average session volume of 789,739 shares. The stock had previously closed at $124.72.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TMDX shares. Oppenheimer boosted their price objective on TransMedics Group from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Morgan Stanley lifted their target price on TransMedics Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Canaccord Genuity Group boosted their target price on TransMedics Group from $147.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Needham & Company LLC increased their price target on TransMedics Group from $166.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. raised their price target on TransMedics Group from $114.00 to $149.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $152.33.

TransMedics Group Price Performance

The company has a current ratio of 7.14, a quick ratio of 6.59 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $3.90 billion, a PE ratio of 23.21 and a beta of 1.98. The stock’s 50-day moving average is $134.77 and its two-hundred day moving average is $127.27.

Insider Transactions at TransMedics Group

In other TransMedics Group news, Director Stephanie Lovell sold 1,193 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $149.62, for a total value of $178,496.66. Following the transaction, the director owned 2,866 shares of the company’s stock, valued at $428,810.92. This represents a 29.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Weill sold 3,571 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $146.82, for a total value of $524,294.22. Following the completion of the sale, the director owned 12,134 shares in the company, valued at approximately $1,781,513.88. The trade was a 22.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 16,205 shares of company stock valued at $2,353,002. Company insiders own 7.00% of the company’s stock.

Institutional Trading of TransMedics Group

A number of large investors have recently made changes to their positions in the stock. Corient Private Wealth LLC lifted its holdings in TransMedics Group by 32.5% during the 4th quarter. Corient Private Wealth LLC now owns 3,084 shares of the company’s stock valued at $375,000 after buying an additional 757 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of TransMedics Group during the fourth quarter valued at approximately $162,000. Virtu Financial LLC boosted its holdings in shares of TransMedics Group by 467.7% in the fourth quarter. Virtu Financial LLC now owns 26,949 shares of the company’s stock valued at $3,278,000 after purchasing an additional 22,202 shares during the period. Summit Global Investments boosted its holdings in shares of TransMedics Group by 3.6% in the fourth quarter. Summit Global Investments now owns 3,260 shares of the company’s stock valued at $397,000 after purchasing an additional 112 shares during the period. Finally, EP Wealth Advisors LLC bought a new position in TransMedics Group in the fourth quarter worth approximately $210,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

About TransMedics Group

TransMedics Group, Inc is a medical device company headquartered in Andover, Massachusetts, that specializes in advanced organ preservation and transport systems for transplantation. The company’s flagship technology, the Organ Care System (OCS), maintains donor organs in a near-physiologic, warm, beating state during transportation, with the aim of extending preservation times and improving post‐transplant outcomes. TransMedics’ solutions address a critical need in transplantation by reducing ischemic injury and expanding the donor organ pool.

TransMedics currently markets two commercially available OCS platforms.