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TransMedics (TMDX) Stock Sinks As Market Gains: Here's Why

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The most recent trading session ended with TransMedics (TMDX - Free Report) standing at $88.88, reflecting a -1.9% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.02%. Meanwhile, the Dow experienced a drop of 0.11%, and the technology-dominated Nasdaq saw an increase of 0.1%.

Prior to today's trading, shares of the medical technology company had gained 21.63% over the past month. This has outpaced the Medical sector's loss of 4.52% and the S&P 500's loss of 3.01% in that time.

Market participants will be closely following the financial results of TransMedics in its upcoming release. The company plans to announce its earnings on April 30, 2024. The company is expected to report EPS of -$0.05, up 37.5% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $83.32 million, showing a 100.52% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.14 per share and revenue of $367.24 million, which would represent changes of +81.82% and +51.99%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for TransMedics. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 39.73% rise in the Zacks Consensus EPS estimate. Right now, TransMedics possesses a Zacks Rank of #1 (Strong Buy).

The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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