TransMedics Group, Inc. (NASDAQ:TMDX) President & CEO, Waleed H. Hassanein, has recently sold a significant portion of his company stock, totaling over $6.4 million. The transactions were carried out in a series of sales at prices ranging from $105.56 to $120.25 per share.
On May 1 and 2, Hassanein executed multiple sales transactions of TransMedics common stock. The first set of transactions on May 1 involved the sale of 2,685 shares at a weighted average price of $105.56, with individual sales prices ranging from $105.50 to $106.17. Additional sales included 91 shares at $106.51, 424 shares at an average price of $107.57, ranging from $107.56 to $107.66, 6,800 shares at $110.00, 23,500 shares at a weighted average price of $114.17, with a range from $114.00 to $114.41, and 22,500 shares at an average of $120.25, with prices between $120.00 and $120.74.
The CEO continued selling on May 2, disposing of 6,140 shares at a weighted average price of $120.64, with individual transactions ranging from $120.22 to $120.995, 6,222 shares at an average price of $122.16, with a range from $121.66 to $122.51, and 82 shares at $122.67.
In addition to the sales, Hassanein also acquired 56,000 shares of TransMedics common stock through the exercise of stock options at a price of $13.28 per share, amounting to a total transaction value of $743,680. This transaction was separate from the sales and was part of a prearranged trading plan established on September 6, 2023.
The sales were part of a planned trading strategy, as indicated by the footnotes in the SEC filing, which state that the transactions were effected pursuant to a Rule 10b5-1 trading plan. This plan allows company insiders to set up a predetermined schedule for buying and selling stock to avoid accusations of insider trading.
Following these transactions, Hassanein's direct ownership in TransMedics stands at 61,643 shares. Additionally, the filings reveal indirect ownership of 469,359 shares held by the Waleed H. Hassanein Revocable Trust.
Investors and interested parties can obtain further details about the specific number of shares sold at each price upon request to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission.
InvestingPro Insights
TransMedics Group, Inc. (NASDAQ:TMDX) has been making waves in the market, with recent activity from the company's President & CEO, Waleed H. Hassanein, sparking investor interest. To provide our readers with a deeper understanding of the company's financial health and stock performance, we've gathered key metrics and insights from InvestingPro.
InvestingPro Data indicates a robust revenue growth for TransMedics, with a remarkable increase of 149.23% over the last twelve months as of Q1 2024. This exponential growth is reflected in the quarterly figures as well, with a 133.07% revenue growth in Q1 2024. Despite not paying dividends, the company's gross profit margin stands strong at 62.4%, showcasing its ability to retain a significant portion of revenue after accounting for the cost of goods sold.
Two key InvestingPro Tips for TransMedics are particularly noteworthy. Firstly, the stock is currently in overbought territory according to the Relative Strength Index (RSI), a momentum oscillator that measures the speed and change of price movements. This suggests that the stock may be due for a correction. Secondly, TransMedics has demonstrated a significant return over the last week, with a price total return of 35.14%, which is a compelling figure for short-term traders.
For those looking for more detailed analysis and additional InvestingPro Tips, there are 19 more tips available for TransMedics on InvestingPro. These insights could be particularly useful for investors trying to gauge the company's future profitability and stock price movements. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and unlock the full potential of your investment decisions.
With the CEO's recent stock sales and the company's strong financial performance, TransMedics remains a company to watch in the dynamic healthcare sector.
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