TransMedics Group (NASDAQ:TMDX) stock price drops 6.4% on insider selling

Shares of TransMedics Group, Inc. (NASDAQ:TMDX – Get Rating) fell 6.4% on Tuesday after an insider sold shares in the company. The stock traded as low as $44.09 and last traded at $44.55. Approximately 6,895 shares were traded during trading, down 99% from the average daily volume of 569,014 shares. The stock had previously closed at $47.60. Specifically, Vice Chairman John F. Carey sold 1,500 shares of the company in a trade dated Wednesday, June 1. The stock was sold at an average price of $28.19, for a total value of $42,285.00. Following the sale, the vice president now directly owns 379 shares of the company, valued at approximately $10,684.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Separately, director James R. Tobin sold 48,515 shares of the company in a trade on Tuesday, July 5. The stock was sold at an average price of $35.00, for a total transaction of $1,698,025.00. Following the sale, the administrator now directly owns 302,106 shares of the company, valued at approximately $10,573,710. The transaction was disclosed in a document filed with the SEC, accessible via the SEC’s website. Additionally, Vice Chairman John F. Carey sold 1,500 shares of the company in a trade dated Wednesday, June 1. The stock was sold at an average price of $28.19, for a total value of $42,285.00. Following the completion of the transaction, the vice president now owns 379 shares of the company, valued at approximately $10,684.01. The disclosure of this sale can be found here. Insiders sold a total of 164,743 shares of the company worth $6,237,637 in the past ninety days. 8.70% of the shares are currently held by insiders of the company.

Analysts set new price targets

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Several analysts have released reports on TMDX shares. Cowen raised his price target on TransMedics Group stock from $39.00 to $45.00 and gave the stock an “outperform” rating in a Tuesday, July 26 research note. Morgan Stanley raised its price target on TransMedics Group from $34.00 to $37.00 and gave the company an “equal weight” rating in a Wednesday, Aug. 3 research note. Oppenheimer raised its price target on TransMedics Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a Tuesday, Aug. 2 research note. JPMorgan Chase & Co. upgraded TransMedics Group from a “neutral” rating to an “overweight” rating and raised its price target for the company from $26.00 to $48.00 in a research report from the Tuesday August 2. Finally, Canaccord Genuity Group raised its price target on TransMedics Group shares from $46.00 to $58.00 in a Thursday, August 4 research report. One investment analyst gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat, TransMedics Group has an average rating of “Moderate Buy” and an average target price of $46.00.

Performance of TransMedics Group shares

The company has a debt ratio of 0.70, a current ratio of 4.18 and a quick ratio of 3.41. The company has a 50-day simple moving average of $34.49 and a 200-day simple moving average of $26.60. The company has a market capitalization of $1.23 billion, a PE ratio of -25.69 and a beta of 1.63.

TransMedics Group (NASDAQ:TMDX – Get Rating) last released its results on Monday, August 1. The company reported ($0.41) EPS for the quarter, missing analyst consensus estimates of ($0.32) by ($0.09). TransMedics Group had a negative return on equity of 74.20% and a negative net margin of 92.76%. In the same quarter a year earlier, the company posted ($0.39) earnings per share. As a group, equity research analysts expect TransMedics Group, Inc. to post -1.57 EPS for the current year.

Hedge funds weigh on TransMedics Group

Major investors have recently been buying and selling stocks. Nisa Investment Advisors LLC increased its stake in TransMedics Group by 3.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 15,550 shares of the company valued at $489,000 after buying an additional 450 shares in the last quarter. Park Avenue Securities LLC increased its stake in TransMedics Group by 3.3% in the second quarter. Park Avenue Securities LLC now owns 17,505 shares of the company worth $551,000 after purchasing an additional 560 shares during the period. Advisor Group Holdings Inc. increased its stake in shares of TransMedics Group by 7.8% during the first quarter. Advisor Group Holdings Inc. now owns 13,173 shares of the company valued at $354,000 after purchasing an additional 948 shares during the period. Envestnet Asset Management Inc. increased its holdings of TransMedics Group shares by 1.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 54,236 shares of the company valued at $1,039,000 after acquiring 949 additional shares last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in TransMedics Group in the second quarter at a value of $31,000. 71.75% of the shares are held by hedge funds and other institutional investors.

About TransMedics Group

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TransMedics Group, Inc., a commercial-stage medical technology company, is committed to transforming organ transplantation therapy for patients with end-stage organ failure in the United States and around the world. The Company offers Organ Care System (OCS), a portable organ perfusion, optimization and monitoring system that uses its proprietary and customized technology to replicate near-physiological conditions for donor organs outside the human body.

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