Bank of New York Mellon Corp Decreases Stake in TransMedics Group, Inc. (NASDAQ:TMDX)

Bank of New York Mellon Corp lessened its holdings in shares of TransMedics Group, Inc. (NASDAQ:TMDX) by 62.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,677 shares of the company’s stock after selling 343,585 shares during the period. Bank of New York Mellon Corp owned approximately 0.62% of TransMedics Group worth $14,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Braidwell LP acquired a new position in TransMedics Group in the fourth quarter valued at about $57,493,000. Norges Bank purchased a new position in shares of TransMedics Group in the 4th quarter worth $22,861,000. Mackenzie Financial Corp grew its stake in TransMedics Group by 73.0% during the fourth quarter. Mackenzie Financial Corp now owns 828,147 shares of the company’s stock worth $51,635,000 after buying an additional 349,403 shares during the period. Dimensional Fund Advisors LP grew its position in TransMedics Group by 1,565.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 269,825 shares of the company’s stock valued at $16,820,000 after acquiring an additional 253,624 shares in the last quarter. Finally, Emerald Advisers LLC grew its holdings in TransMedics Group by 146.3% during the 4th quarter. Emerald Advisers LLC now owns 371,711 shares of the company’s stock worth $23,176,000 after acquiring an additional 220,804 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

TransMedics Group Trading Down 2.3%

NASDAQ TMDX opened at $109.88 on Friday. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 80.79 and a beta of 2.06. The company has a quick ratio of 8.32, a current ratio of 9.10 and a debt-to-equity ratio of 1.92. The business’s fifty day moving average is $127.13 and its 200 day moving average is $92.46. TransMedics Group, Inc. has a twelve month low of $55.00 and a twelve month high of $177.37.

TransMedics Group (NASDAQ:TMDX) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.41. The company had revenue of $143.54 million for the quarter, compared to analyst estimates of $123.39 million. TransMedics Group had a net margin of 10.03% and a return on equity of 21.88%. The company’s quarterly revenue was up 48.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 EPS. As a group, sell-side analysts expect that TransMedics Group, Inc. will post 1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TMDX has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of TransMedics Group in a report on Tuesday, June 17th. Oppenheimer lifted their target price on shares of TransMedics Group from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, June 17th. Piper Sandler restated an “overweight” rating and set a $145.00 target price (up from $125.00) on shares of TransMedics Group in a research report on Wednesday, June 4th. Finally, Canaccord Genuity Group lifted their price target on shares of TransMedics Group from $129.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $129.88.

Insider Buying and Selling at TransMedics Group

In related news, Director Edward M. Basile sold 5,000 shares of TransMedics Group stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $126.45, for a total transaction of $632,250.00. Following the transaction, the director owned 2,866 shares of the company’s stock, valued at $362,405.70. The trade was a 63.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anil P. Ranganath sold 686 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $139.80, for a total transaction of $95,902.80. Following the completion of the sale, the insider directly owned 13,955 shares in the company, valued at approximately $1,950,909. The trade was a 4.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,418 shares of company stock valued at $1,512,613. Company 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.