TransMedics Group (NASDAQ:TMDX) Announces Earnings Results

TransMedics Group (NASDAQ:TMDX) posted its quarterly earnings results on Monday. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.17), Briefing.com reports. The business had revenue of $108.76 million for the quarter, compared to the consensus estimate of $115.00 million. TransMedics Group had a net margin of 0.84% and a return on equity of 15.98%. TransMedics Group’s revenue was up 63.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.12) earnings per share. TransMedics Group updated its FY 2024 guidance to EPS.

TransMedics Group Trading Down 29.9 %

Shares of NASDAQ TMDX opened at $88.50 on Wednesday. TransMedics Group has a 1-year low of $36.42 and a 1-year high of $177.37. The company has a debt-to-equity ratio of 2.67, a current ratio of 9.37 and a quick ratio of 8.48. The business’s 50 day moving average is $146.02 and its two-hundred day moving average is $140.16. The stock has a market capitalization of $2.95 billion, a P/E ratio of 94.15 and a beta of 1.99.

Wall Street Analysts Forecast Growth

TMDX has been the topic of a number of research analyst reports. Robert W. Baird lowered their price target on TransMedics Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday. Needham & Company LLC lowered their target price on shares of TransMedics Group from $208.00 to $109.00 and set a “buy” rating on the stock in a report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 target price on shares of TransMedics Group in a research note on Tuesday. Baird R W upgraded shares of TransMedics Group to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. cut their price objective on TransMedics Group from $173.00 to $116.00 and set an “overweight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $144.80.

Insider Activity

In other news, Director James R. Tobin sold 20,000 shares of TransMedics Group stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $159.33, for a total value of $3,186,600.00. Following the completion of the transaction, the director now owns 173,146 shares in the company, valued at approximately $27,587,352.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TransMedics Group news, insider Anil P. Ranganath sold 4,289 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $152.20, for a total value of $652,785.80. Following the completion of the sale, the insider now owns 8,893 shares of the company’s stock, valued at $1,353,514.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Tobin sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $159.33, for a total value of $3,186,600.00. Following the transaction, the director now owns 173,146 shares of the company’s stock, valued at $27,587,352.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,205 shares of company stock valued at $9,981,907 in the last ninety days. Insiders own 7.00% 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.