TransMedics Group (NASDAQ:TMDX) Stock Price Down 6.8% – Time to Sell?

TransMedics Group, Inc. (NASDAQ:TMDX) traded down 6.8% on Monday . The stock traded as low as $69.39 and last traded at $67.66. 152,091 shares were traded during mid-day trading, a decline of 94% from the average session volume of 2,439,527 shares. The stock had previously closed at $72.60.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TMDX shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $75.00 target price (down from $116.00) on shares of TransMedics Group in a report on Tuesday, December 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of TransMedics Group in a research report on Tuesday, December 3rd. Canaccord Genuity Group reduced their target price on shares of TransMedics Group from $109.00 to $104.00 and set a “buy” rating on the stock in a research report on Wednesday, November 20th. TD Cowen lowered their price target on shares of TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a report on Monday, November 18th. Finally, Piper Sandler dropped their price target on shares of TransMedics Group from $110.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.70.

TransMedics Group Stock Down 3.0 %

The stock has a market capitalization of $2.29 billion, a P/E ratio of 72.46 and a beta of 2.12. The company has a current ratio of 8.20, a quick ratio of 7.33 and a debt-to-equity ratio of 2.42. The stock’s 50 day simple moving average is $65.81 and its 200 day simple moving average is $108.49.

Insider Activity

In other news, insider Tamer I. Khayal sold 1,084 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $86.40, for a total value of $93,657.60. Following the completion of the sale, the insider now directly owns 20,843 shares in the company, valued at approximately $1,800,835.20. The trade was a 4.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On TransMedics Group

A number of hedge funds have recently added to or reduced their stakes in the business. Emerald Advisers LLC raised its holdings in shares of TransMedics Group by 146.3% during the fourth quarter. Emerald Advisers LLC now owns 371,711 shares of the company’s stock worth $23,176,000 after purchasing an additional 220,804 shares during the period. Principal Financial Group Inc. grew its position 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 valued at $31,759,000 after buying an additional 146,115 shares during the last quarter. State of Michigan Retirement System acquired a new stake in TransMedics Group during the fourth quarter worth about $6,734,000. Public Sector Pension Investment Board bought a new position in TransMedics Group in the third quarter worth about $11,079,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in TransMedics Group by 665.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 74,625 shares of the company’s stock valued at $11,716,000 after acquiring an additional 64,872 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

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.