TransMedics Group, Inc. (NASDAQ:TMDX) director James R. Tobin has sold a significant portion of his holdings in the company, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place on May 1, 2024, amounted to a total sale of over $1.6 million worth of common stock.
The sales were conducted at prices ranging from $105.70 to $110.00 per share. Specifically, Tobin sold 11,236 shares at an average price of $105.70, 1,704 shares at an average of $106.89, 100 shares at $108.47, and 2,000 shares at a flat rate of $110.00. These transactions were part of a pre-arranged Rule 10b5-1 trading plan, which allows company insiders to sell shares at predetermined times to avoid any accusations of trading on nonpublic information.
Following these sales, the remaining holdings of Tobin, indirectly owned through the James R. Tobin 2012 Trust, amount to 205,171 shares of TransMedics Group, Inc. The company, based in Andover, Massachusetts, specializes in electromedical and electrotherapeutic apparatus, providing advanced medical technologies.
Investors often monitor insider transactions as they can provide insights into an insider’s view of the company's financial health and future prospects. The sale by Director Tobin represents a notable change in his investment in the company, which may be of interest to current and potential shareholders.
The transactions were executed in accordance with SEC regulations, and full details of the sales at individual prices within the reported range are available upon request from the issuer or the SEC.
InvestingPro Insights
TransMedics Group, Inc. (NASDAQ:TMDX) has seen notable movements in its stock performance, with data from InvestingPro revealing a significant return over the last week and an impressive growth trajectory over the past year. As of the latest metrics, the company's market capitalization stands at approximately $4.2 billion. Despite not being profitable over the last twelve months, the company's revenue has surged, showing a 149.23% growth for the last twelve months as of Q1 2024. This robust revenue growth is accompanied by a gross profit margin of 62.4%, reflecting the company's strong ability to convert sales into profit.
InvestingPro Tips suggest that while net income is expected to grow this year, the stock is currently in overbought territory according to the Relative Strength Index (RSI). This could indicate a potential retraction in price or a period of consolidation before any further upward movement. Additionally, with the stock trading near its 52-week high and at a high Price / Book multiple of 26.37, the valuation appears rich compared to historical levels.
For investors seeking to delve deeper into TransMedics Group's financials and stock performance, InvestingPro offers a comprehensive set of additional tips. Currently, there are 19 more InvestingPro Tips available, which can provide further guidance on the company's debt levels, valuation multiples, and analyst predictions. To access these insights, visit: https://www.investing.com/pro/TMDX and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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