TransMedics Group Stock Sinks On Q3 Earnings: The Details
Portfolio Pulse from Adam Eckert
TransMedics Group Inc (NASDAQ:TMDX) shares fell nearly 24% in after-hours trading following disappointing Q3 earnings. The company reported revenue of $108.76 million, missing estimates of $115 million, and EPS of 12 cents, below the expected 30 cents. Despite a 64% year-over-year revenue increase, driven by the Organ Care System and logistics services, the market reacted negatively. TransMedics maintains a positive outlook for 2024 and beyond, with a full-year revenue forecast between $425 million and $445 million.
October 28, 2024 | 9:11 pm
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TransMedics Group's Q3 earnings report showed a revenue miss and lower-than-expected EPS, leading to a 24% drop in after-hours trading. Despite a 64% YoY revenue increase, the market reacted negatively to the earnings miss.
The significant drop in TMDX's stock price is due to the company's Q3 earnings missing analyst expectations for both revenue and EPS. Despite a strong year-over-year revenue increase, the market focused on the earnings miss, leading to a negative short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100