ANDOVER, Mass. - TransMedics Group, Inc. (NASDAQ:TMDX), a medical technology company with a current market capitalization of $2.87 billion and an "GREAT" financial health score according to InvestingPro, announced today the appointment of Gerardo Hernandez as Chief Financial Officer, effective immediately. Mr. Hernandez succeeds Stephen Gordon, who will continue to serve the company in a non-executive capacity until March 31, 2025, and then as a senior advisor focusing on transplant stakeholder engagement until March 31, 2026.
Mr. Hernandez brings over 25 years of financial leadership experience, having recently served as Vice President Finance at Alnylam Pharmaceuticals (NASDAQ:ALNY). His tenure includes significant roles at Shire, culminating in his involvement in their acquisition by Takeda, and earlier positions at Unilever (LON:ULVR). His expertise spans global financial planning and analysis across the healthcare and consumer packaged goods sectors.
Dr. Waleed Hassanein, President and CEO of TransMedics, expressed gratitude for Mr. Gordon's contributions to the company's growth and welcomed Mr. Hernandez, highlighting his track record in leading finance functions within global organizations.
TransMedics also revised its financial outlook for the year, projecting revenues between $428 million and $432 million, indicating a 77% to 79% growth compared to the previous year. The company's stock has shown strong momentum with a 10.35% return over the past week, though it trades at a relatively high P/E ratio of 86.6. According to InvestingPro analysis, the company's net income is expected to grow this year, with 14 additional ProTips available for subscribers. The company anticipates discussing these updates and its growth strategy in greater detail during the upcoming TransMedics Investor & Analyst Day on Tuesday, December 10, 2024.
In addition to the Investor & Analyst Day, the management team will participate in the Piper Sandler 36th Annual Healthcare Conference on Tuesday, December 3, 2024, and the J.P. Morgan Healthcare Conference in January 2025. These events will provide further opportunities for engagement with investors and analysts.
TransMedics is recognized for its portable extracorporeal warm perfusion and assessment technologies, which aim to improve organ quality and increase the utilization of donor organs for patients with end-stage organ failure. For investors seeking deeper insights, InvestingPro offers a comprehensive Pro Research Report on TransMedics, one of 1,400+ US equities covered with detailed analysis and actionable intelligence for smarter investment decisions.
This news report is based on a press release statement from TransMedics Group, Inc.
In other recent news, TransMedics Group Inc (NASDAQ:TMDX). reported a substantial 64% year-over-year increase in its third-quarter revenue, totaling $108.8 million. This growth was primarily driven by a 76% rise in U.S. sales, despite a 40% decline in international sales. The company also reported a GAAP operating profit of $3.9 million and a net income of $4.2 million. Meanwhile, Needham downgraded TransMedics from Buy to Hold due to increasing competitive pressures and a potential slowdown in the company's expansion. Canaccord Genuity also adjusted its price target for TransMedics to $104 from the previous $109, maintaining a Buy rating. Both firms predict significant growth for TransMedics in the third quarter of 2025, driven by clinical trials of their next-generation solution technology for heart and liver transplants. TransMedics is investing in clinical and technology infrastructures to enhance heart and lung warm perfusate solutions, anticipating significant growth in heart and lung transplant volumes. These are the recent developments for TransMedics Group Inc.
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