Portolan Capital Management LLC Acquires New Stake in TransMedics Group, Inc. $TMDX

Portolan Capital Management LLC bought a new position in shares of TransMedics Group, Inc. (NASDAQ:TMDX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 68,910 shares of the company’s stock, valued at approximately $7,732,000. Portolan Capital Management LLC owned approximately 0.20% of TransMedics Group at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its stake in shares of TransMedics Group by 28.9% in the 2nd quarter. Intech Investment Management LLC now owns 34,389 shares of the company’s stock worth $4,608,000 after buying an additional 7,713 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of TransMedics Group in the third quarter valued at $4,070,000. Peregrine Capital Management LLC boosted its stake in TransMedics Group by 16.5% during the third quarter. Peregrine Capital Management LLC now owns 68,406 shares of the company’s stock valued at $7,675,000 after buying an additional 9,676 shares in the last quarter. Intrust Bank NA bought a new position in TransMedics Group during the second quarter valued at about $747,000. Finally, Citigroup Inc. grew its holdings in TransMedics Group by 29.3% during the third quarter. Citigroup Inc. now owns 76,785 shares of the company’s stock worth $8,615,000 after acquiring an additional 17,414 shares during the period. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Stephanie Lovell sold 1,193 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 2,866 shares of the company’s stock, valued at approximately $428,810.92. This trade represents a 29.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Corcoran sold 2,966 shares of TransMedics Group stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $139.12, for a total transaction of $412,629.92. Following the transaction, the insider owned 29,831 shares in the company, valued at approximately $4,150,088.72. The trade was a 9.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,205 shares of company stock worth $2,353,002 in the last quarter. Corporate insiders own 7.00% of the company’s stock.

TransMedics Group Stock Performance

Shares of TMDX opened at $123.48 on Friday. The company has a 50-day moving average of $135.92 and a two-hundred day moving average of $127.19. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 25.20 and a beta of 1.98. The company has a debt-to-equity ratio of 1.06, a current ratio of 7.14 and a quick ratio of 6.59. TransMedics Group, Inc. has a one year low of $62.23 and a one year high of $156.00.

Analyst Ratings Changes

Several equities research analysts have commented on TMDX shares. Wall Street Zen cut shares of TransMedics Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Canaccord Genuity Group lifted their price objective on shares of TransMedics Group from $147.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Needham & Company LLC boosted their target price on shares of TransMedics Group from $166.00 to $174.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Piper Sandler increased their target price on shares of TransMedics Group from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Finally, Oppenheimer increased their target price on shares of TransMedics Group from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, TransMedics Group has a consensus rating of “Moderate Buy” and an average target price of $152.33.

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.