Insider Selling

TransMedics Insiders file Form 144s while the Stock progresses

Transmedics Group Inc (TMDX: US) is the world's leader in portable extracorporeal warm perfusion and assessment of donor organs for transplantation. The company was founded in 1998 and went public in 2019. 

The company has focused on developing a new technology that transports the transplanted organ - currently the liver, heart, & lungs - in a portable, warm vessel that will pump oxygenated blood into the organ allowing the organ to be transported in a functioning state as opposed to the cold storage. This is the core principle of the TransMedics Organ Care System (OCS) platform. 

Insiders with Plans to sell

On July 5, 2022, three insiders at Transmedics made plans to sell company stock. All insiders, save for one, filed their form via JP Morgan Securities LLC:

  • James R. Tobin has served as the company Chairman for nearly 11 years. He filed a form 144. This form was for 97,030 shares worth almost $3.41 million. 

  • Tamer I. Khayal joined the company in 2001 and was appointed Chief Commercial Officer in 2018. He made plans to sell 27,008 TMDX shares for a rough estimate of $950,000. 

  • CFO, Stephen Gordon, who joined in 2015, filed his first form of the year for almost 10,000 shares at a value of $351,000. He was the only insider whose form’s broker was GW & Wade Asset Management Company LLC. 

Later on July 11, John F. Carey, Vice President, filed his Form for 16,000 stocks at a total worth of $527,200. His form was filed via JP Morgan Securities LLC as well, along with being Carey’s eighth form filed this year.

Financial Results & Sector News

Ironically, TMDX’s stock price has been riding high this year. The share value is up by approx. 55.09%. Currently possessing an M Cap of $883 million, the company disclosed its financial results for the first quarter of 2022 on May 3.

Net revenue had risen to $15.9 million which was a whopping 125% increase year on year. According to Waleed Hassanein, the company’s Founder, President & CEO, its growth can be attributed mainly to its National OCS™ Program (NOP). Earlier on April 28, 2022, the company received FDA approval for its OCS™ Heart system. 

A recent article about the Organ Transport Devices market mentioned TransMedics multiple times, naming the company as a key player. It also stated that the market was valued at approximately $105.9 million in 2021, and could grow to $115.1 million this year. If that is the case, TransMedics is on the right track with its research and ongoing developments. But neither of these explains the mystery behind multiple company Insiders filing forms in a single month, especially when considering all these individuals have almost a decade of experience behind them. 

Recent Articles