TransMedics Group (NASDAQ:TMDX) Shares Down 4.5% – Here’s What Happened

TransMedics Group, Inc. (NASDAQ:TMDX)’s share price was down 4.5% during trading on Wednesday . The company traded as low as $103.66 and last traded at $104.05. Approximately 570,111 shares were traded during trading, a decline of 34% from the average daily volume of 857,904 shares. The stock had previously closed at $108.92.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC lifted their target price on TransMedics Group from $166.00 to $174.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. increased their price target on TransMedics Group from $114.00 to $149.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Piper Sandler raised their price target on TransMedics Group from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Stifel Nicolaus boosted their price target on TransMedics Group from $115.00 to $130.00 and gave the stock a “hold” rating in a research report on Monday, March 9th. Finally, Oppenheimer upped their price objective on TransMedics Group from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, TransMedics Group currently has an average rating of “Moderate Buy” and a consensus price target of $152.33.

TransMedics Group Stock Down 5.1%

The company has a current ratio of 7.14, a quick ratio of 6.59 and a debt-to-equity ratio of 1.06. The firm’s 50 day moving average price is $133.18 and its two-hundred day moving average price is $127.61. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 21.03 and a beta of 1.98.

Insider Transactions at TransMedics Group

In related news, CFO Gerardo Hernandez sold 7,236 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $147.21, for a total transaction of $1,065,211.56. Following the transaction, the chief financial officer directly owned 14,689 shares of the company’s stock, valued at approximately $2,162,367.69. The trade was a 33.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephanie Lovell sold 1,193 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $149.62, for a total value of $178,496.66. Following the completion of the sale, the director owned 2,866 shares in the company, valued at approximately $428,810.92. This trade represents a 29.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 16,205 shares of company stock valued at $2,353,002. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On TransMedics Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of TransMedics Group by 981.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 227 shares of the company’s stock valued at $26,000 after purchasing an additional 206 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of TransMedics Group during the 3rd quarter worth about $28,000. Harvest Fund Management Co. Ltd bought a new stake in shares of TransMedics Group during the 3rd quarter worth about $29,000. Optiver Holding B.V. boosted its holdings in shares of TransMedics Group by 248.1% during the 3rd quarter. Optiver Holding B.V. now owns 268 shares of the company’s stock worth $30,000 after buying an additional 191 shares during the period. Finally, Allworth Financial LP grew its stake in TransMedics Group by 74.3% in the 3rd quarter. Allworth Financial LP now owns 265 shares of the company’s stock valued at $30,000 after buying an additional 113 shares during the last quarter. 99.67% of the stock is owned by institutional investors.

About TransMedics Group

TransMedics Group, Inc is a medical device company headquartered in Andover, Massachusetts, that specializes in advanced organ preservation and transport systems for transplantation. The company’s flagship technology, the Organ Care System (OCS), maintains donor organs in a near-physiologic, warm, beating state during transportation, with the aim of extending preservation times and improving post?transplant outcomes. TransMedics’ solutions address a critical need in transplantation by reducing ischemic injury and expanding the donor organ pool.

TransMedics currently markets two commercially available OCS platforms.