TransMedics Group (NASDAQ:TMDX) Stock Price Down 4.3% - Here's What Happened

TransMedics Group, Inc. (NASDAQ:TMDX) experienced a significant drop of 4.3% in stock price on Thursday. The share price fell to a low of $58.90 before stabilizing at $59.29 during trading. Overall, approximately 310,211 shares were traded, which marks a staggering decline of 91% compared to the average daily volume of 3,289,978 shares. Prior to this decline, the stock had closed at $61.97.

Wall Street Analysts Forecast Growth

Several analysts have recently issued their opinions on TransMedics Group. Robert W. Baird reduced their price target from $150.00 to $120.00 while maintaining an "outperform" rating. Similarly, Oppenheimer affirmed their "outperform" rating, setting a target price of $125.00 for the shares. Additionally, TD Cowen lowered its price outlook from $175.00 to $120.00; they also retain a "buy" rating. Needham & Company LLC has reiterated a "hold" rating, while Piper Sandler cut their price target from $110.00 to $90.00, maintaining an "overweight" rating. Current consensus among analysts includes three holding ratings, seven buy ratings, and one strong buy rating, providing TransMedics Group with an average target price of $122.70, according to MarketBeat.com.

TransMedics Group Price Performance

The company's financial ratios reveal a quick ratio of 7.33, a current ratio of 8.20, and a debt-to-equity ratio of 2.42. With a market capitalization of $2.07 billion, TransMedics Group has a P/E ratio of 65.78 and a beta of 2.12. Its 50-day and 200-day simple moving averages stand at $69.56 and $115.95, respectively. The last quarterly earnings report, released on October 28th, showed earnings per share of $0.12, which was lower than analysts' expectations of $0.29, indicating a $0.17 miss. Revenue for the quarter was reported at $108.76 million, below the consensus estimate of $115.00 million. Interestingly, this represents a remarkable 63.7% revenue increase compared to the same quarter last year.

Insider Transactions at TransMedics Group

Recent insider transactions include Director Edward M. Basile selling 6,750 shares on November 5th, with an average sale price of $83.55. This sale totaled approximately $563,962.50, reducing his ownership significantly. Another insider, Tamer I. Khayal, sold 1,084 shares on December 2nd, averaging $86.40 per share, accumulating around $93,657.60. Following this, Khayal currently holds approximately 20,843 shares in the company. Insiders own about 7.00% of TransMedics Group’s stock.

Institutional Trading of TransMedics Group

Several large investors have recently adjusted their holdings in TransMedics Group. Sachetta LLC initiated a new stake valued at $40,000, while USA Financial Formulas acquired approximately $55,000 worth of shares. Quarry LP significantly increased its holdings by 557.1%, now owning 368 shares after purchasing an additional 312 shares. National Bank of Canada FI also raised its investment, owning 412 shares valued at $65,000. Furthermore, Farther Finance Advisors LLC enhanced their stake by 187.0%, holding 485 shares afterward. Overall, institutional investors possess 99.67% of the company's stock.

TransMedics Group Company Profile

TransMedics Group, Inc. is a commercial-stage medical technology firm that focuses on improving organ transplant therapy for patients facing end-stage organ failure, both in the U.S. and globally. Its flagship product, the Organ Care System (OCS), provides a portable solution for organ perfusion, optimization, and monitoring, utilizing innovative technology designed to closely mimic physiological conditions for donor organs outside the human body.

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