TransMedics Group (NASDAQ:TMDX) Sees Unusually-High Trading Volume – Still a Buy?

TransMedics Group, Inc. (NASDAQ:TMDX) saw unusually-strong trading volume on Wednesday . Approximately 1,236,910 shares changed hands during trading, an increase of 27% from the previous session’s volume of 972,123 shares.The stock last traded at $76.87 and had previously closed at $82.92.

Wall Street Analysts Forecast Growth

TMDX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of TransMedics Group from $173.00 to $116.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Oppenheimer cut their price target on TransMedics Group from $200.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Stephens raised their price target on TransMedics Group from $151.00 to $178.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. TD Cowen dropped their price objective on TransMedics Group from $175.00 to $120.00 and set a “buy” rating for the company in a research note on Monday. Finally, Piper Sandler decreased their target price on TransMedics Group from $180.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, TransMedics Group currently has an average rating of “Buy” and an average price target of $131.80.

TransMedics Group Stock Performance

The company has a quick ratio of 7.33, a current ratio of 8.20 and a debt-to-equity ratio of 2.42. The business has a 50 day moving average of $120.68 and a 200 day moving average of $138.09. The company has a market capitalization of $2.66 billion, a P/E ratio of 84.41 and a beta of 2.08.

TransMedics Group (NASDAQ:TMDX) last posted its earnings results on Monday, October 28th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.17). The business had revenue of $108.76 million during the quarter, compared to the consensus estimate of $115.00 million. TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The business’s quarterly revenue was up 63.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.12) earnings per share. On average, sell-side analysts predict that TransMedics Group, Inc. will post 1 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Edward M. Basile sold 6,750 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.55, for a total value of $563,962.50. Following the completion of the sale, the director now owns 732 shares in the company, valued at approximately $61,158.60. The trade was a 90.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Corcoran sold 10,000 shares of TransMedics Group stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $176.02, for a total value of $1,760,200.00. Following the sale, the insider now directly owns 21,105 shares of the company’s stock, valued at approximately $3,714,902.10. This trade represents a 32.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,958 shares of company stock valued at $5,230,528 over the last three months. 7.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On TransMedics Group

Several institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in TransMedics Group by 337,462.5% during the 1st quarter. Russell Investments Group Ltd. now owns 27,005 shares of the company’s stock worth $1,997,000 after acquiring an additional 26,997 shares in the last quarter. ProShare Advisors LLC increased its holdings in TransMedics Group by 7.8% during the first quarter. ProShare Advisors LLC now owns 5,871 shares of the company’s stock valued at $434,000 after buying an additional 427 shares during the period. State Board of Administration of Florida Retirement System raised its stake in TransMedics Group by 8.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 9,843 shares of the company’s stock worth $745,000 after buying an additional 780 shares in the last quarter. Vanguard Group Inc. lifted its holdings in TransMedics Group by 1.3% during the first quarter. Vanguard Group Inc. now owns 1,889,094 shares of the company’s stock worth $139,680,000 after buying an additional 23,979 shares during the period. Finally, Pitcairn Co. boosted its position in TransMedics Group by 1.5% during the 1st quarter. Pitcairn Co. now owns 5,378 shares of the company’s stock valued at $398,000 after acquiring an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

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.