Short Interest in TransMedics Group, Inc. (NASDAQ:TMDX) Rises By 30.9%

TransMedics Group, Inc. (NASDAQ:TMDX) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 8,430,000 shares, an increase of 30.9% from the October 15th total of 6,440,000 shares. Based on an average trading volume of 1,390,000 shares, the short-interest ratio is presently 6.1 days.

TransMedics Group Price Performance

NASDAQ TMDX traded down $7.88 during trading hours on Friday, reaching $80.48. 2,305,980 shares of the company’s stock were exchanged, compared to its average volume of 969,652. TransMedics Group has a one year low of $63.85 and a one year high of $177.37. The stock has a market cap of $2.70 billion, a PE ratio of 85.62 and a beta of 2.08. The company has a current ratio of 8.20, a quick ratio of 7.33 and a debt-to-equity ratio of 2.42. The firm has a fifty day moving average of $125.63 and a 200-day moving average of $139.09.

TransMedics Group (NASDAQ:TMDX) last released its quarterly earnings data on Monday, October 28th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.17). TransMedics Group had a net margin of 8.14% and a return on equity of 18.74%. The firm had revenue of $108.76 million during the quarter, compared to the consensus estimate of $115.00 million. During the same quarter in the prior year, the company earned ($0.12) EPS. TransMedics Group’s quarterly revenue was up 63.7% on a year-over-year basis. On average, equities research analysts predict that TransMedics Group will post 1.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Canaccord Genuity Group reduced their target price on TransMedics Group from $169.00 to $109.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Robert W. Baird reduced their target price on shares of TransMedics Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price target on shares of TransMedics Group in a report on Tuesday, October 29th. Baird R W upgraded shares of TransMedics Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Needham & Company LLC reduced their price objective on shares of TransMedics Group from $208.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TransMedics Group currently has an average rating of “Buy” and an average target price of $144.80.

Insider Activity at TransMedics Group

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

Institutional Trading of TransMedics Group

A number of institutional investors have recently modified their holdings of TMDX. Geode Capital Management LLC increased its position in shares of TransMedics Group by 1.3% during the third quarter. Geode Capital Management LLC now owns 763,790 shares of the company’s stock worth $119,938,000 after buying an additional 10,106 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in TransMedics Group in the 3rd quarter worth about $368,000. MML Investors Services LLC raised its stake in TransMedics Group by 140.3% in the 3rd quarter. MML Investors Services LLC now owns 4,123 shares of the company’s stock valued at $647,000 after acquiring an additional 2,407 shares during the period. Zacks Investment Management purchased a new stake in shares of TransMedics Group during the 3rd quarter valued at approximately $1,607,000. Finally, National Bank of Canada FI boosted its holdings in shares of TransMedics Group by 174.7% in the third quarter. National Bank of Canada FI now owns 412 shares of the company’s stock worth $65,000 after acquiring an additional 262 shares during the period. 99.67% of the stock is currently owned by institutional investors.

About TransMedics Group

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.