TransMedics Group, Inc. (NASDAQ:TMDX) has reported a significant stock transaction by one of its top executives. Nicholas Corcoran, the company's Senior Vice President of Supply Chain and Operations, has sold 3,222 shares of common stock at a weighted average price of $129.91, resulting in a total transaction value of $418,570.
The sale took place on May 6, 2024, and was disclosed in a recent filing with the Securities and Exchange Commission. According to the details provided, the shares were sold in multiple transactions with prices ranging from $129.795 to $129.975. Following this transaction, Corcoran now directly owns 21,105 shares of TransMedics Group, Inc.
TransMedics Group, Inc. specializes in electromedical and electrotherapeutic apparatus, and its stock is publicly traded under the ticker TMDX. The company is headquartered in Andover, Massachusetts, and continues to be a key player in the medical device industry.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. However, these transactions can occur for various reasons and do not necessarily indicate a change in the company's fundamental outlook.
For those interested in further details of the transactions, the reporting executive has agreed to provide full information regarding the number of shares sold at each separate price within the range upon request.
InvestingPro Insights
TransMedics Group, Inc. (NASDAQ:TMDX), a leader in the medical device sector, has been under the market's spotlight with significant stock movement and insider transactions. The company's market capitalization stands at a robust $4.19 billion, reflecting its substantial presence in the industry. Despite a challenging P/E ratio of -407.15, recent data indicates a remarkable revenue growth of 149.23% in the last twelve months as of Q1 2024, signaling strong business performance.
An InvestingPro Tip highlights the company's net income, which is expected to grow this year, aligning with the positive revenue trends. Additionally, the stock's price has seen a substantial increase, with a 1-year total return of 79.42%, which could be one of the reasons behind the insider transaction by Nicholas Corcoran. It's important to note that the company's stock is currently trading near its 52-week high, at 95.71% of the peak price, which might have presented an opportune moment for the sale.
Investors and potential shareholders looking for a deeper analysis and additional metrics on TransMedics Group, Inc. can find more InvestingPro Tips, including insights on valuation multiples and profitability predictions, by visiting InvestingPro's dedicated page for TMDX. For those considering an InvestingPro subscription, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Currently, there are 19 additional InvestingPro Tips available, offering a comprehensive understanding of TMDX's financial health and stock performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.