TransMedics Group (NASDAQ:TMDX) Trading Up 6.5% – Still a Buy?

TransMedics Group, Inc. (NASDAQ:TMDX)’s share price rose 6.5% on Tuesday . The company traded as high as $73.00 and last traded at $73.21. Approximately 277,077 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 2,631,531 shares. The stock had previously closed at $68.76.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TMDX. Piper Sandler lowered their price objective on TransMedics Group from $110.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Canaccord Genuity Group lowered their target price on TransMedics Group from $109.00 to $104.00 and set a “buy” rating for the company in a report on Wednesday, November 20th. TD Cowen cut their price target on TransMedics Group from $175.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Robert W. Baird dropped their target price on TransMedics Group from $150.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of TransMedics Group in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, TransMedics Group has an average rating of “Moderate Buy” and an average target price of $122.70.

TransMedics Group Stock Performance

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 market capitalization of $2.43 billion, a P/E ratio of 76.84 and a beta of 2.12. The business’s 50 day simple moving average is $67.28 and its two-hundred day simple moving average is $111.73.

Insider Activity at TransMedics Group

In related news, insider Tamer I. Khayal sold 1,084 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $86.40, for a total value of $93,657.60. Following the transaction, the insider now owns 20,843 shares of the company’s stock, valued at $1,800,835.20. This trade represents a 4.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TransMedics Group

A number of large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in shares of TransMedics Group by 732.3% in the fourth quarter. IFP Advisors Inc now owns 6,783 shares of the company’s stock worth $423,000 after purchasing an additional 5,968 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in TransMedics Group in the fourth quarter valued at $72,000. Handelsbanken Fonder AB boosted its position in TransMedics Group by 27.2% during the fourth quarter. Handelsbanken Fonder AB now owns 81,900 shares of the company’s stock worth $5,106,000 after purchasing an additional 17,500 shares in the last quarter. Global Retirement Partners LLC grew its stake in TransMedics Group by 4,132.5% in the 4th quarter. Global Retirement Partners LLC now owns 3,259 shares of the company’s stock valued at $203,000 after acquiring an additional 3,182 shares during the period. Finally, Peregrine Capital Management LLC increased its holdings in TransMedics Group by 64.0% in the 4th quarter. Peregrine Capital Management LLC now owns 66,140 shares of the company’s stock worth $4,124,000 after acquiring an additional 25,814 shares in the last quarter. 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.