TransMedics Group (NASDAQ:TMDX) Announces Earnings Results, Beats Expectations By $0.40 EPS

TransMedics Group (NASDAQ:TMDX) released its earnings results on Tuesday. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.40, Briefing.com reports. The company had revenue of $96.90 million for the quarter, compared to the consensus estimate of $83.78 million. TransMedics Group had a negative net margin of 3.43% and a positive return on equity of 8.29%. TransMedics Group’s revenue was up 132.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) EPS. TransMedics Group updated its FY 2024 guidance to EPS.

TransMedics Group Price Performance

NASDAQ:TMDX traded up $1.06 during trading hours on Thursday, hitting $118.66. 152,500 shares of the stock were exchanged, compared to its average volume of 741,134. The company has a debt-to-equity ratio of 3.69, a current ratio of 9.30 and a quick ratio of 8.49. The firm’s fifty day moving average price is $83.85 and its 200 day moving average price is $75.92. TransMedics Group has a 52-week low of $36.42 and a 52-week high of $124.18.

Analysts Set New Price Targets

Several analysts have commented on TMDX shares. Morgan Stanley lifted their price objective on shares of TransMedics Group from $75.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. Oppenheimer raised their target price on TransMedics Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen boosted their target price on shares of TransMedics Group from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $120.00 price objective (up previously from $95.00) on shares of TransMedics Group in a research report on Wednesday. Finally, Canaccord Genuity Group increased their target price on shares of TransMedics Group from $102.00 to $117.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, TransMedics Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.00.

Insider Activity at TransMedics Group

In other news, insider Tamer I. Khayal sold 736 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $90.09, for a total value of $66,306.24. Following the transaction, the insider now directly owns 14,375 shares of the company’s stock, valued at $1,295,043.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Stephen Gordon sold 15,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $74.01, for a total transaction of $1,110,150.00. Following the transaction, the chief financial officer now owns 23,299 shares of the company’s stock, valued at approximately $1,724,358.99. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Tamer I. Khayal sold 736 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $90.09, for a total transaction of $66,306.24. Following the sale, the insider now owns 14,375 shares of the company’s stock, valued at $1,295,043.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,078 shares of company stock valued at $8,691,221. 7.00% of the stock is owned by insiders.

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.