TransMedics Group (NASDAQ:TMDX) Stock Price Down 9% – Should You Sell?

TransMedics Group, Inc. (NASDAQ:TMDX) shares were down 9% on Friday . The company traded as low as $80.38 and last traded at $80.38. Approximately 1,600,575 shares traded hands during mid-day trading, an increase of 66% from the average daily volume of 966,487 shares. The stock had previously closed at $88.36.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TMDX. Piper Sandler reiterated an “overweight” rating and set a $180.00 price target on shares of TransMedics Group in a research report on Tuesday, October 29th. Canaccord Genuity Group reduced their price objective on shares of TransMedics Group from $169.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Needham & Company LLC dropped 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, 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 for the company in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. dropped their price target on TransMedics Group from $173.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. One investment 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 company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $144.80.

TransMedics Group Price Performance

The company has a debt-to-equity ratio of 2.42, a current ratio of 8.20 and a quick ratio of 7.33. The company has a market cap of $2.70 billion, a PE ratio of 89.34 and a beta of 2.08. The stock has a fifty day moving average price of $126.82 and a 200-day moving average price of $139.20.

TransMedics Group (NASDAQ:TMDX) last released its earnings results on Monday, October 28th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.17). The business had revenue of $108.76 million for the quarter, compared to analysts’ expectations of $115.00 million. TransMedics Group had a net margin of 8.14% and a return on equity of 18.74%. The company’s revenue was up 63.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) EPS. On average, equities analysts expect that TransMedics Group, Inc. will post 1.07 earnings per share for the current year.

Insider Activity

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

Institutional Trading of TransMedics Group

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of TransMedics Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 1,889,094 shares of the company’s stock valued at $139,680,000 after buying an additional 23,979 shares during the period. Driehaus Capital Management LLC boosted its holdings in TransMedics Group by 15.8% in the second quarter. Driehaus Capital Management LLC now owns 1,486,073 shares of the company’s stock valued at $223,832,000 after acquiring an additional 202,867 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in TransMedics Group by 5.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 599,116 shares of the company’s stock worth $94,061,000 after purchasing an additional 30,092 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in TransMedics Group by 24.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 329,010 shares of the company’s stock valued at $51,654,000 after purchasing an additional 64,360 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of TransMedics Group by 8.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 297,324 shares of the company’s stock valued at $21,985,000 after purchasing an additional 22,223 shares during the last quarter. Institutional investors and hedge funds own 99.67% 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.