TransMedics Group (NASDAQ:TMDX) Hits New 1-Year High at $89.98

Posted by on Apr 23rd, 2023

TransMedics Group, Inc. (NASDAQ:TMDX – Get Rating) hit a new 52-week high on Friday . The company traded as high as $89.98 and last traded at $86.87, with a volume of 520329 shares changing hands. The stock had previously closed at $79.05.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TMDX shares. JPMorgan Chase & Co. lifted their price objective on shares of TransMedics Group from $67.00 to $81.00 and gave the company an “overweight” rating in a report on Thursday, February 23rd. Canaccord Genuity Group upped their price objective on shares of TransMedics Group from $68.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Cowen increased their price objective on shares of TransMedics Group from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, February 23rd. Morgan Stanley lifted their price objective on shares of TransMedics Group from $63.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. Finally, Oppenheimer upped their target price on TransMedics Group from $55.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 23rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $71.57.

TransMedics Group Stock Performance

The firm’s 50 day simple moving average is $74.08 and its 200-day simple moving average is $62.40. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -70.98 and a beta of 1.44. The company has a debt-to-equity ratio of 0.31, a quick ratio of 9.79 and a current ratio of 10.66.

TransMedics Group (NASDAQ:TMDX – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.07. TransMedics Group had a negative return on equity of 29.82% and a negative net margin of 38.77%. The business had revenue of $31.38 million during the quarter, compared to analysts’ expectations of $23.60 million. During the same period in the prior year, the business posted ($0.46) EPS. The company’s revenue was up 224.5% compared to the same quarter last year. On average, sell-side analysts predict that TransMedics Group, Inc. will post -0.88 EPS for the current year.

Insider Transactions at TransMedics Group

In other news, CEO Waleed H. Hassanein sold 12,362 shares of the company’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $65.42, for a total value of $808,722.04. Following the completion of the transaction, the chief executive officer now owns 398,785 shares in the company, valued at approximately $26,088,514.70. The sale was disclosed in a document filed with the SEC, which is available at this link. In other TransMedics Group news, CEO Waleed H. Hassanein sold 2,173 shares of TransMedics Group stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $70.08, for a total value of $152,283.84. Following the sale, the chief executive officer now owns 389,112 shares of the company’s stock, valued at approximately $27,268,968.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Waleed H. Hassanein sold 12,362 shares of the firm’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $65.42, for a total value of $808,722.04. Following the completion of the sale, the chief executive officer now directly owns 398,785 shares of the company’s stock, valued at $26,088,514.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,438 shares of company stock valued at $10,169,318. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of TransMedics Group

Several hedge funds and other institutional investors have recently made changes to their positions in TMDX. Oakworth Capital Inc. purchased a new stake in TransMedics Group in the 4th quarter valued at approximately $25,000. MinichMacGregor Wealth Management LLC acquired a new stake in shares of TransMedics Group in the fourth quarter worth $42,000. MCF Advisors LLC purchased a new stake in shares of TransMedics Group during the 3rd quarter valued at about $43,000. Royal Bank of Canada lifted its position in shares of TransMedics Group by 643.0% during the third quarter. Royal Bank of Canada now owns 1,122 shares of the company’s stock worth $46,000 after purchasing an additional 971 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in TransMedics Group by 125.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,603 shares of the company’s stock worth $109,000 after buying an additional 1,448 shares in the last quarter. Institutional investors and hedge funds own 88.58% of the company’s stock.

About TransMedics Group

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TransMedics Group, Inc operates as a commercial stage medical technology company. The firm engages in the development and commercialization of organ care system platform. It focuses on the preservation of human organs for transplant in a near-physiologic condition to address the limitations of cold storage organ preservation.

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