TransMedics Group, Inc. $TMDX Shares Bought by Fred Alger Management LLC

Fred Alger Management LLC boosted its position in shares of TransMedics Group, Inc. (NASDAQ:TMDX) by 303.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,741 shares of the company’s stock after buying an additional 113,408 shares during the period. Fred Alger Management LLC owned 0.44% of TransMedics Group worth $16,913,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC raised its stake in TransMedics Group by 28.9% in the 2nd quarter. Intech Investment Management LLC now owns 34,389 shares of the company’s stock valued at $4,608,000 after purchasing an additional 7,713 shares during the last quarter. Nordea Investment Management AB acquired a new stake in TransMedics Group during the 3rd quarter worth $4,070,000. Peregrine Capital Management LLC grew its holdings in shares of TransMedics Group by 16.5% during the third quarter. Peregrine Capital Management LLC now owns 68,406 shares of the company’s stock worth $7,675,000 after buying an additional 9,676 shares in the last quarter. Intrust Bank NA purchased a new stake in shares of TransMedics Group during the second quarter worth $747,000. Finally, Citigroup Inc. raised its position in shares of TransMedics Group by 29.3% in the third quarter. Citigroup Inc. now owns 76,785 shares of the company’s stock valued at $8,615,000 after buying an additional 17,414 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Insiders Place Their Bets

In other news, insider Nicholas Corcoran sold 2,966 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $139.12, for a total transaction of $412,629.92. Following the completion of the sale, the insider owned 29,831 shares in the company, valued at $4,150,088.72. This trade represents a 9.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephanie Lovell sold 1,193 shares of TransMedics Group stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $149.62, for a total transaction of $178,496.66. Following the sale, the director directly owned 2,866 shares in the company, valued at approximately $428,810.92. The trade was a 29.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,205 shares of company stock worth $2,353,002. 7.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler boosted their price target on shares of TransMedics Group from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Oppenheimer increased their price objective on shares of TransMedics Group from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. TD Cowen reissued a “buy” rating on shares of TransMedics Group in a research note on Monday. Stifel Nicolaus upped their price target on TransMedics Group from $115.00 to $130.00 and gave the company a “hold” rating in a research report on Monday, March 9th. Finally, Needham & Company LLC increased their price target on TransMedics Group from $166.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, TransMedics Group has an average rating of “Moderate Buy” and a consensus price target of $152.33.

TransMedics Group Price Performance

TransMedics Group stock opened at $124.70 on Tuesday. 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 company has a 50-day moving average price of $135.89 and a 200 day moving average price of $127.40. TransMedics Group, Inc. has a 12-month low of $62.23 and a 12-month high of $156.00. The stock has a market cap of $4.28 billion, a P/E ratio of 25.45 and a beta of 1.98.

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.