PNC Financial Services Group Inc. Increases Stake in TransMedics Group, Inc. $TMDX

PNC Financial Services Group Inc. grew its position in shares of TransMedics Group, Inc. (NASDAQ:TMDX) by 13.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,294 shares of the company’s stock after buying an additional 278 shares during the quarter. PNC Financial Services Group Inc.’s holdings in TransMedics Group were worth $154,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of TMDX. Legal & General Group Plc raised its position in TransMedics Group by 2.5% during the 4th quarter. Legal & General Group Plc now owns 95,539 shares of the company’s stock worth $5,957,000 after buying an additional 2,363 shares during the last quarter. Raymond James Financial Inc. purchased a new position in TransMedics Group during the 4th quarter worth $3,845,000. NewEdge Advisors LLC raised its position in TransMedics Group by 86.2% during the 4th quarter. NewEdge Advisors LLC now owns 24,635 shares of the company’s stock worth $1,536,000 after buying an additional 11,406 shares during the last quarter. Dimensional Fund Advisors LP raised its position in TransMedics Group by 1,565.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 269,825 shares of the company’s stock worth $16,820,000 after buying an additional 253,624 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in TransMedics Group by 6.0% during the 4th quarter. MetLife Investment Management LLC now owns 19,640 shares of the company’s stock worth $1,225,000 after buying an additional 1,116 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Insiders Place Their Bets

In other TransMedics Group news, insider Anil P. Ranganath sold 686 shares of TransMedics Group stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $139.80, for a total transaction of $95,902.80. Following the completion of the transaction, the insider 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Weill sold 732 shares of TransMedics Group stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $123.88, for a total transaction of $90,680.16. Following the transaction, the director owned 12,134 shares of the company’s stock, valued at approximately $1,503,159.92. The trade was a 5.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,418 shares of company stock worth $818,833. Insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler restated an “overweight” rating and set a $145.00 price objective (up previously from $125.00) on shares of TransMedics Group in a research report on Wednesday, June 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of TransMedics Group in a research note on Tuesday, June 17th. Oppenheimer upped their price target on shares of TransMedics Group from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 17th. Canaccord Genuity Group upped their price target on shares of TransMedics Group from $129.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen raised shares of TransMedics Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

TransMedics Group Stock Performance

Shares of TMDX opened at $125.65 on Tuesday. The company has a current ratio of 9.86, a quick ratio of 9.17 and a debt-to-equity ratio of 1.61. The stock has a market cap of $4.28 billion, a P/E ratio of 65.10 and a beta of 2.09. The company has a 50-day moving average of $123.38 and a two-hundred day moving average of $100.34. TransMedics Group, Inc. has a 12-month low of $55.00 and a 12-month high of $177.37.

TransMedics Group (NASDAQ:TMDX) last announced its earnings results on Wednesday, July 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.44. The company had revenue of $157.37 million during the quarter, compared to analysts’ expectations of $146.64 million. TransMedics Group had a net margin of 13.49% and a return on equity of 28.02%. The firm’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 earnings per share. As a group, research analysts predict that TransMedics Group, Inc. will post 1 EPS for the current fiscal 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.