TransMedics Group (NASDAQ:TMDX) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of TransMedics Group (NASDAQ:TMDX) from a hold rating to a strong sell rating in a report published on Monday,Zacks.com reports.

TMDX has been the subject of several other research reports. Needham & Company LLC reduced their price objective on shares of TransMedics Group from $174.00 to $142.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. UBS Group reiterated a “hold” rating on shares of TransMedics Group in a report on Tuesday, May 26th. Wall Street Zen lowered shares of TransMedics Group from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. TD Cowen reissued a “buy” rating and set a $120.00 price target on shares of TransMedics Group in a research report on Wednesday, July 1st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $124.00 target price on shares of TransMedics Group in a report on Tuesday, June 30th. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, TransMedics Group has an average rating of “Hold” and an average price target of $134.50.

TransMedics Group Stock Performance

TMDX stock opened at $71.11 on Monday. The business has a 50 day moving average of $73.40 and a 200-day moving average of $107.39. The company has a quick ratio of 6.19, a current ratio of 6.74 and a debt-to-equity ratio of 1.70. The firm has a market cap of $2.46 billion, a PE ratio of 16.16 and a beta of 1.89. TransMedics Group has a 12-month low of $60.10 and a 12-month high of $156.00.

TransMedics Group (NASDAQ:TMDX) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.32). TransMedics Group had a return on equity of 22.38% and a net margin of 27.04%.The company had revenue of $173.93 million for the quarter, compared to analysts’ expectations of $174.44 million. During the same quarter last year, the business posted $0.70 EPS. The business’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, sell-side analysts expect that TransMedics Group will post 1.92 earnings per share for the current year.

Insider Buying and Selling at TransMedics Group

In other news, Director Thomas J. Gunderson sold 9,624 shares of TransMedics Group stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.06, for a total value of $722,377.44. Following the sale, the director directly owned 16,642 shares of the company’s stock, valued at approximately $1,249,148.52. The trade was a 36.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TMDX. Harvest Fund Management Co. Ltd bought a new position in TransMedics Group during the third quarter valued at $29,000. North Star Investment Management Corp. bought a new stake in TransMedics Group during the 1st quarter valued at $30,000. Ascentis Independent Advisors purchased a new stake in TransMedics Group in the first quarter worth about $30,000. Allworth Financial LP lifted its position in shares of TransMedics Group by 74.3% in the 3rd quarter. Allworth Financial LP now owns 265 shares of the company’s stock worth $30,000 after purchasing an additional 113 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in TransMedics Group during the third quarter worth $34,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

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.