Khayal Tamer I, the Chief Commercial Officer of TransMedics Group, Inc. (NASDAQ:TMDX), executed a series of stock transactions as reported in a recent SEC filing. The company, currently valued at $2.4 billion, has seen its stock decline by 17% in the past week, trading near its 52-week low of $68.84. On December 2, Tamer sold 1,084 shares of common stock, generating a total of $93,657. The shares were sold at a weighted average price of $86.40, with individual transactions occurring between $86.21 and $86.89.
In addition to the sales, Tamer exercised stock options to acquire 1,084 shares at a price of $13.28 per share, totaling $14,395. These transactions were conducted under a Rule 10b5-1 trading plan established on September 6, 2023. Following these transactions, Tamer holds 20,843 shares of TransMedics common stock directly.
In other recent news, TransMedics Group has experienced several significant developments. The company announced the appointment of Gerardo Hernandez as the new Chief Financial Officer. This comes alongside a revised revenue guidance for fiscal year 2024, with expected revenues now ranging between $428 million and $432 million.
TransMedics also reported a substantial 64% year-over-year increase in its third-quarter revenue, totaling $108.8 million. This growth was primarily driven by a 76% rise in U.S. sales. Despite these promising figures, Needham downgraded TransMedics from Buy to Hold due to increasing competitive pressures.
Conversely, Canaccord Genuity (TSX:CF) maintained a Buy rating but adjusted its price target for TransMedics to $104 from the previous $109. Oppenheimer also continued its Outperform rating on TransMedics' stock, indicating confidence in the company's performance. These recent developments reflect the evolving business dynamics and financial outlook of TransMedics Group.
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