TransMedics Group (NASDAQ:TMDX) Shares Down 4.5% – What’s Next?

TransMedics Group, Inc. (NASDAQ:TMDX)’s share price traded down 4.5% during mid-day trading on Wednesday . The stock traded as low as $103.66 and last traded at $104.05. 570,111 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 857,904 shares. The stock had previously closed at $108.92.

Analysts Set New Price Targets

Several analysts have weighed in on TMDX shares. Piper Sandler boosted their price objective on TransMedics Group from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. TD Cowen reiterated a “buy” rating on shares of TransMedics Group in a research report on Monday, March 16th. Morgan Stanley boosted their price target on shares of TransMedics Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. Needham & Company LLC increased their price objective on shares of TransMedics Group from $166.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, Oppenheimer lifted their target price on shares of TransMedics Group from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $152.33.

TransMedics Group Trading Down 2.8%

The company has a market capitalization of $3.51 billion, a P/E ratio of 20.86 and a beta of 1.98. 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 business has a 50 day moving average price of $131.61 and a 200 day moving average price of $127.27.

Insider Transactions at TransMedics Group

In other TransMedics Group news, Director David Weill sold 3,571 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $146.82, for a total transaction of $524,294.22. Following the completion of the sale, the director directly owned 12,134 shares in the company, valued at $1,781,513.88. This represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Corcoran sold 2,966 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $139.12, for a total value of $412,629.92. Following the transaction, the insider directly owned 29,831 shares in the company, valued at $4,150,088.72. This trade represents a 9.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 16,205 shares of company stock worth $2,353,002. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On TransMedics Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kensington Investment Counsel LLC bought a new stake in shares of TransMedics Group during the third quarter valued at approximately $1,926,000. Nordea Investment Management AB bought a new stake in shares of TransMedics Group in the third quarter worth $4,070,000. Peregrine Capital Management LLC increased its holdings in TransMedics Group by 16.5% during the third quarter. Peregrine Capital Management LLC now owns 68,406 shares of the company’s stock valued at $7,675,000 after buying an additional 9,676 shares during the last quarter. Fieldview Capital Management LLC bought a new position in shares of TransMedics Group during the 3rd quarter valued at approximately $1,716,000. Finally, Citigroup Inc. increased its stake in TransMedics Group by 29.3% in the 3rd quarter. Citigroup Inc. now owns 76,785 shares of the company’s stock worth $8,615,000 after buying an additional 17,414 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

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.