SlateStone Wealth LLC Takes $856,000 Position in TransMedics Group, Inc. (NASDAQ:TMDX)

SlateStone Wealth LLC purchased a new stake in shares of TransMedics Group, Inc. (NASDAQ:TMDX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,681 shares of the company’s stock, valued at approximately $856,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pitcairn Co. increased its holdings in TransMedics Group by 1.5% in the 1st quarter. Pitcairn Co. now owns 5,378 shares of the company’s stock worth $398,000 after buying an additional 78 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in TransMedics Group by 26.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,049 shares of the company’s stock worth $83,000 after buying an additional 222 shares in the last quarter. Park Avenue Securities LLC increased its holdings in TransMedics Group by 3.4% in the 1st quarter. Park Avenue Securities LLC now owns 11,374 shares of the company’s stock worth $841,000 after buying an additional 372 shares in the last quarter. J.Safra Asset Management Corp increased its holdings in TransMedics Group by 649.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 442 shares of the company’s stock worth $67,000 after buying an additional 383 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in TransMedics Group in the 1st quarter worth about $30,000. 99.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Needham & Company LLC assumed coverage on TransMedics Group in a report on Wednesday, August 21st. They issued a “buy” rating and a $208.00 price objective for the company. Piper Sandler boosted their price target on TransMedics Group from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Stephens boosted their price target on TransMedics Group from $151.00 to $178.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on TransMedics Group from $105.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Canaccord Genuity Group boosted their price target on TransMedics Group from $117.00 to $169.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $171.44.

Insiders Place Their Bets

In related news, CFO Stephen Gordon sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $141.40, for a total transaction of $2,828,000.00. Following the completion of the sale, the chief financial officer now directly owns 21,299 shares in the company, valued at approximately $3,011,678.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Anil P. Ranganath sold 703 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $135.21, for a total transaction of $95,052.63. Following the completion of the transaction, the insider now owns 8,809 shares of the company’s stock, valued at $1,191,064.89. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stephen Gordon sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $141.40, for a total transaction of $2,828,000.00. Following the transaction, the chief financial officer now owns 21,299 shares of the company’s stock, valued at $3,011,678.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,163 shares of company stock worth $11,556,922. 7.00% of the stock is currently owned by company insiders.

TransMedics Group Stock Performance

NASDAQ TMDX opened at $170.17 on Tuesday. The company has a market cap of $5.60 billion, a P/E ratio of -500.50 and a beta of 1.99. The company has a debt-to-equity ratio of 2.67, a quick ratio of 8.48 and a current ratio of 9.37. The business’s 50 day moving average price is $152.08 and its 200-day moving average price is $120.30. TransMedics Group, Inc. has a fifty-two week low of $36.42 and a fifty-two week high of $177.37.

TransMedics Group (NASDAQ:TMDX) last issued its earnings results on Wednesday, July 31st. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.14. TransMedics Group had a return on equity of 15.98% and a net margin of 0.84%. The business had revenue of $114.30 million during the quarter, compared to analysts’ expectations of $98.84 million. During the same period in the prior year, the business earned ($0.03) EPS. The business’s revenue for the quarter was up 117.7% compared to the same quarter last year. Sell-side analysts predict that TransMedics Group, Inc. will post 1.2 earnings per share for the current year.

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.