Homepage

TransMedics Group, Inc.

TMDX NASDAQ Categories PDF
Healthcare · Medical - Devices · United States · Updated May 11, 1:56pm
$64.39
Price
$2.2B
Market Cap
728
Employees
2.06
Beta
Waleed H. Hassanein
CEO
Business Description

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. Its Organ Care System includes OCS LUNG for the preservation of standard criteria donor lungs for double-lung transplantation; OCS Heart, a technology for extracorporeal perfusion and preservation of donor hearts; and OCS Liver for the preservation of donor livers. The company was founded in 1998 and is headquartered in Andover, Massachusetts.

Business History
Price Overview
Last updated: May 11, 2026 1:56pm (just now)
$64.39
-3.45 (-5.09%)
Day Range
$63.52 – $69.25
52-Week Range
$63.52 – $156.00
50-Day MA
$111.99
200-Day MA
$121.91
Volume
1,962,949.75
Analyst Price Targets
Low $85.00
Consensus $124.33
High $142.00
(35 analysts)
Share Structure
Outstanding 34,560,900.00
Float 33,379,608.00
Free Float 96.6%
High free float — 96.6% of shares trade freely, ~3.4% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
API
Stock Price / EPS (Diluted)
12.88
Stock Price: $64.39
EPS (Diluted): 5.60
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
8.74
Stock Price: $64.39
Total Equity: $473.10M
Shares: 40,540,694
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
18.80
Market Cap: $2.23B
Total Debt: $469.69M
Cash: $488.37M
EBITDA: $148.49M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$4.1B
Market Cap: $2.23B
Total Debt: $469.69M
Cash: $488.37M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
59.9%
Gross Profit: $362.81M
Revenue: $605.49M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
17.9%
Operating Income: $108.58M
Revenue: $605.49M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
31.4%
Net Income: $190.29M
Revenue: $605.49M
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
41.9%
Net Income: $190.29M
Total Equity: $473.10M
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
6.9%
Operating Income: $108.58M
Tax Rate: -77.0%
Equity: $473.10M
Total Debt: $469.69M
Cash: $488.37M
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
7.14
Current Assets: $637.78M
Current Liabilities: $89.31M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
0.99
Short-Term Debt: $13.31M
Long-Term Debt: $456.38M
Total Debt: $469.69M
Total Equity: $473.10M
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$14.94
Revenue: $605.49M
Shares: 40,540,694
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$11.67
Total Equity: $473.10M
Shares: 40,540,694
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$3.30
Operating CF: $192.84M
CapEx: -$59.25M
Shares: 40,540,694
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $64.39
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $190.29M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares TMDX against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $30.3M $93.5M $241.6M $441.5M $605.5M
Cost of Revenue $9.1M $28.2M $87.5M $179.5M $242.7M
Gross Profit $21.2M $65.3M $154.1M $262.1M $362.8M
Operating Expenses $60.6M $96.7M $182.8M $224.6M $254.2M
Operating Income -$39.4M -$31.4M -$28.7M $37.5M $108.6M
Net Income -$44.2M -$36.2M -$25.0M $35.5M $190.3M
EBITDA -$38.5M -$29.0M -$7.7M $69.9M $148.5M
EPS $-1.60 $-1.23 $-0.77 $1.07 $5.60
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $25.6M $201.2M $394.8M $336.7M $488.4M
Total Current Assets $118.7M $252.3M $510.7M $497.2M $637.8M
Total Assets $134.9M $277.1M $706.0M $804.1M $1.1B
Current Liabilities $23.2M $23.7M $54.9M $59.9M $89.3M
Long-Term Debt $35.2M $58.7M $506.2M $509.3M $456.4M
Total Liabilities $67.0M $89.8M $568.8M $575.5M $595.3M
Total Equity $67.9M $187.4M $137.2M $228.6M $473.1M
Retained Earnings -$442.4M -$478.7M -$503.7M -$468.2M -$278.0M
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow -$28.9M -$45.8M -$13.0M $48.8M $192.8M
Capital Expenditure -$3.5M -$11.9M -$179.1M -$129.7M -$59.3M
Free Cash Flow -$32.4M -$57.7M -$192.1M -$80.9M $133.6M
Acquisitions (net) $0 $107,000 -$14.9M $441,000 $0
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks $0 $0 $0 $0 $-138,000
Net Change in Cash $999,000 $175.6M $193.6M -$58.2M $151.7M
Analyst Estimates (Annual)
Metric 2026 2027 2028 2029
Revenue $732.8M
$727.5M – $738.5M
 $872.3M
$863.8M – $883.1M
 $1.0B
$1.0B – $1.0B
 $1.2B
$1.2B – $1.2B
EBITDA -$137.5M
-$138.5M – -$136.5M
 -$163.7M
-$165.7M – -$162.1M
 -$191.5M
-$192.6M – -$190.4M
 -$228.0M
-$231.7M – -$225.6M
Net Income $79.6M
$74.2M – $100.2M
 $139.2M
$113.4M – $186.3M
 $185.7M
$167.7M – $260.4M
 $287.6M
$283.7M – $293.7M
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +208.8% +158.5% +82.7% +37.1%
Gross Profit Growth +208.5% +136.1% +70.1% +38.4%
Operating Income Growth +20.3% +8.6% +230.5% +189.6%
Net Income Growth +18.1% +30.9% +241.7% +436.6%
EBITDA Growth +24.8% +73.4% +1,008.0% +112.3%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-03-09 Forsyth Matthew S. 0.00 $0.00 $0
2026-03-04 Lovell Stephanie S-Sale 1,193.00 $149.62 $178,497
2026-03-04 Weill David M-Exempt 3,571.00 $14.20 $50,708
2026-03-04 Weill David S-Sale 3,571.00 $146.82 $524,294
2026-03-04 Weill David M-Exempt 3,571.00 $14.20 $50,708
2026-03-04 Hernandez Gerardo M-Exempt 5,912.00 $69.84 $412,894
2026-03-04 Hernandez Gerardo M-Exempt 1,324.00 $77.12 $102,107
2026-03-04 Hernandez Gerardo S-Sale 5,912.00 $147.21 $870,306
2026-03-02 Hernandez Gerardo S-Sale 375.00 $139.12 $52,170
2026-03-04 Hernandez Gerardo M-Exempt 5,912.00 $69.84 $412,894
2026-03-04 Hernandez Gerardo M-Exempt 1,324.00 $77.12 $102,107
2026-03-02 Ranganath Anil P. S-Sale 864.00 $139.12 $120,200
2026-01-23 Corcoran Nicholas F-InKind 984.00 $135.30 $133,135
2026-03-02 Corcoran Nicholas S-Sale 2,966.00 $139.12 $412,630
2026-02-18 Cecere Giovanni A-Award 11,082.00 $0.00 $0
2026-02-18 Cecere Giovanni A-Award 16,734.00 $135.50 $2.3M
2025-03-14 Cecere Giovanni 0.00 $0.00 $0
2026-02-02 Cecere Giovanni 0.00 $0.00 $0
2025-12-03 Weill David M-Exempt 5,000.00 $14.20 $71,000
2025-12-03 Weill David S-Sale 5,000.00 $138.64 $693,200
Community AI Feedback
Sign in to Contribute
No community reviews yet for TMDX. Be the first — export the analysis to your AI and contribute back.
My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27