TransMedics Group (NASDAQ:TMDX) Shares Gap Down on Disappointing Earnings

TransMedics Group, Inc. (NASDAQ:TMDX) shares gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $126.24, but opened at $91.15. TransMedics Group shares last traded at $89.92, with a volume of 2,548,802 shares trading hands.

The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.17). The company had revenue of $108.76 million during the quarter, compared to the consensus estimate of $115.00 million. TransMedics Group had a net margin of 0.84% and a return on equity of 15.98%. The company’s quarterly revenue was up 63.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) earnings per share.

Wall Street Analyst Weigh In

TMDX has been the topic of several analyst reports. Oppenheimer reduced their price target on shares of TransMedics Group from $200.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday. Piper Sandler restated an “overweight” rating and set a $180.00 price objective on shares of TransMedics Group in a research report on Tuesday. Canaccord Genuity Group decreased their target price on TransMedics Group from $169.00 to $109.00 and set a “buy” rating on the stock in a research report on Tuesday. Baird R W raised shares of TransMedics Group to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Needham & Company LLC decreased their price target on shares of TransMedics Group from $208.00 to $109.00 and set a “buy” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, TransMedics Group currently has an average rating of “Buy” and a consensus price target of $144.80.

Insider Buying and Selling at TransMedics Group

In other TransMedics Group news, Director James R. Tobin sold 20,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $159.33, for a total value of $3,186,600.00. Following the completion of the transaction, the director now owns 173,146 shares in the company, valued at approximately $27,587,352.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other TransMedics Group news, Director James R. Tobin sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $159.33, for a total transaction of $3,186,600.00. Following the completion of the sale, the director now directly owns 173,146 shares in the company, valued at approximately $27,587,352.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Waleed H. Hassanein sold 8,625 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $153.42, for a total transaction of $1,323,247.50. Following the completion of the transaction, the chief executive officer now owns 61,643 shares in the company, valued at approximately $9,457,269.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,247 shares of company stock valued at $9,518,181. 7.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TransMedics Group

Several large investors have recently bought and sold shares of the business. Fidelis Capital Partners LLC bought a new stake in shares of TransMedics Group during the 1st quarter valued at about $35,000. International Assets Investment Management LLC purchased a new position in shares of TransMedics Group in the second quarter worth approximately $47,000. USA Financial Formulas bought a new stake in TransMedics Group during the third quarter valued at approximately $55,000. J.Safra Asset Management Corp increased its holdings in TransMedics Group by 649.2% during the second quarter. J.Safra Asset Management Corp now owns 442 shares of the company’s stock valued at $67,000 after buying an additional 383 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in TransMedics Group by 26.6% during the second quarter. Signaturefd LLC now owns 443 shares of the company’s stock valued at $67,000 after buying an additional 93 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors.

TransMedics Group Stock Down 7.4 %

The company’s 50-day simple moving average is $144.20 and its two-hundred day simple moving average is $139.76. The firm has a market capitalization of $2.73 billion, a P/E ratio of 87.15 and a beta of 1.99. The company has a debt-to-equity ratio of 2.67, a current ratio of 9.37 and a quick ratio of 8.48.

TransMedics Group Company Profile

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.