Eventide Asset Management LLC Trims Stock Position in TransMedics Group, Inc. (NASDAQ:TMDX)

Eventide Asset Management LLC trimmed its stake in shares of TransMedics Group, Inc. (NASDAQ:TMDX) by 39.7% in the third quarter, Holdings Channel.com reports. The fund owned 690,632 shares of the company’s stock after selling 454,798 shares during the quarter. TransMedics Group makes up approximately 1.9% of Eventide Asset Management LLC’s investment portfolio, making the stock its 10th biggest position. Eventide Asset Management LLC’s holdings in TransMedics Group were worth $108,429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TMDX. International Assets Investment Management LLC bought a new position in shares of TransMedics Group in the 2nd quarter worth about $47,000. USA Financial Formulas acquired a new stake in TransMedics Group during the third quarter worth approximately $55,000. J.Safra Asset Management Corp increased its holdings in TransMedics Group by 649.2% in the second quarter. J.Safra Asset Management Corp now owns 442 shares of the company’s stock worth $67,000 after purchasing an additional 383 shares in the last quarter. Signaturefd LLC lifted its stake in TransMedics Group by 26.6% in the second quarter. Signaturefd LLC now owns 443 shares of the company’s stock valued at $67,000 after buying an additional 93 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of TransMedics Group by 187.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 485 shares of the company’s stock worth $76,000 after buying an additional 316 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on TMDX. Canaccord Genuity Group lowered their price objective on shares of TransMedics Group from $109.00 to $104.00 and set a “buy” rating for the company in a research note on Wednesday, November 20th. Piper Sandler reduced their price target on shares of TransMedics Group from $180.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Oppenheimer dropped their price objective on shares of TransMedics Group from $200.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Needham & Company LLC reissued a “hold” rating and set a $109.00 price objective on shares of TransMedics Group in a research report on Friday, November 22nd. Finally, Baird R W raised TransMedics Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, TransMedics Group has a consensus rating of “Moderate Buy” and an average target price of $131.80.

TransMedics Group Stock Performance

Shares of TMDX opened at $87.11 on Friday. The firm has a market capitalization of $2.92 billion, a P/E ratio of 92.67 and a beta of 2.08. TransMedics Group, Inc. has a 52 week low of $67.77 and a 52 week high of $177.37. The stock has a 50 day moving average price of $113.26 and a two-hundred day moving average price of $136.45. The company has a debt-to-equity ratio of 2.42, a quick ratio of 7.33 and a current ratio of 8.20.

TransMedics Group (NASDAQ:TMDX) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.17). TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The company had revenue of $108.76 million for the quarter, compared to the consensus estimate of $115.00 million. During the same quarter last year, the company posted ($0.12) EPS. The company’s quarterly revenue was up 63.7% compared to the same quarter last year. Equities analysts forecast that TransMedics Group, Inc. will post 1 earnings per share for the current fiscal year.

Insider Activity

In other TransMedics Group news, insider Tamer I. Khayal sold 2,958 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $148.24, for a total value of $438,493.92. Following the completion of the transaction, the insider now owns 20,843 shares in the company, valued at $3,089,766.32. This represents a 12.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Waleed H. Hassanein sold 8,625 shares of TransMedics Group stock in a transaction on Monday, September 16th. The stock was sold at an average price of $153.42, for a total value of $1,323,247.50. Following the sale, the chief executive officer now owns 61,643 shares in the company, valued at $9,457,269.06. The trade was a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,958 shares of company stock worth $3,470,328 over the last quarter. Insiders own 7.00% of the company’s stock.

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.