TransMedics Group (NASDAQ:TMDX) Releases Earnings Results, Beats Estimates By $0.14 EPS

TransMedics Group (NASDAQ:TMDX) released its earnings results on Wednesday. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.14, Briefing.com reports. TransMedics Group had a negative net margin of 3.43% and a positive return on equity of 7.95%. The firm had revenue of $114.30 million during the quarter, compared to the consensus estimate of $98.84 million. During the same period in the prior year, the firm earned ($0.03) EPS. The company’s revenue was up 117.7% compared to the same quarter last year. TransMedics Group updated its FY 2024 guidance to EPS.

TransMedics Group Price Performance

NASDAQ TMDX traded up $9.25 on Thursday, hitting $151.51. The stock had a trading volume of 2,916,684 shares, compared to its average volume of 755,758. TransMedics Group has a 52-week low of $36.42 and a 52-week high of $171.98. The company has a debt-to-equity ratio of 3.18, a quick ratio of 8.76 and a current ratio of 9.72. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of -445.62 and a beta of 1.98. The firm has a 50-day moving average of $143.82 and a 200-day moving average of $110.58.

Insiders Place Their Bets

In other TransMedics Group news, CEO Waleed H. Hassanein sold 8,625 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $145.17, for a total value of $1,252,091.25. Following the sale, the chief executive officer now directly owns 61,643 shares in the company, valued at approximately $8,948,714.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other TransMedics Group news, CEO Waleed H. Hassanein sold 8,625 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $145.17, for a total value of $1,252,091.25. Following the sale, the chief executive officer now directly owns 61,643 shares in the company, valued at approximately $8,948,714.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Tobin sold 12,025 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $125.05, for a total transaction of $1,503,726.25. Following the completion of the sale, the director now owns 193,146 shares in the company, valued at $24,152,907.30. The disclosure for this sale can be found here. Insiders have sold 113,367 shares of company stock worth $15,145,741 in the last three months. 7.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TMDX shares. Canaccord Genuity Group increased their target price on shares of TransMedics Group from $117.00 to $169.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price on shares of TransMedics Group from $105.00 to $127.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Piper Sandler increased their target price on shares of TransMedics Group from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday. Cantor Fitzgerald assumed coverage on shares of TransMedics Group in a research note on Thursday, June 6th. They set an “overweight” rating and a $161.00 price target on the stock. Finally, Morgan Stanley upped their price target on shares of TransMedics Group from $104.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, TransMedics Group currently has an average rating of “Moderate Buy” and an average target price of $163.50.

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.