TransMedics slides on Q1 earnings miss

May 5, 2021 By Sean Whooley

TransMedics (NSDQ:TMDX) shares took a massive hit today on first-quarter results that missed the consensus earnings forecast.

TMDX shares were down -12.4% at $24.58 per share in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down -1.2%.

The Andover, Mass.-based organ transplant technology developer posted losses of -$7.9 million, or -29¢ per share, on sales of $7.1 million for the three months ended March 31, 2021, for a 10.6% bottom-line gain on a sales decline of -6.3%.

TransMedics’ EPS of -29¢ came in 1¢ shy of projections on Wall Street, although the company’s revenues topped analysts’ estimates by 1.8%.

“We are pleased with our progress as we advance quickly toward several near term regulatory and commercial catalysts expected in 2021,” TransMedics president & CEO Dr. Waleed Hassanein said in a news release. “Following the favorable FDA advisory panel vote for OCS Heart, we are working with FDA to map out the process to a decision on our PMA. In addition, we are making significant progress towards our key 2021 catalysts and strategic initiatives, which gives us confidence in our long-term outlook.”

TransMedics did not offer financial guidance for 2021.

Smart clothes powered by AI could monitor health
Purdue University engineers are touting a method for turning cloth items into battery-free, wearable and wireless “smart clothes.” The engineers at the West Lafayette, Ind.–based university developed a new spray/sewing method designed to transform any conventional cloth item into these smart clothes that can also be cleaned in the washing machine like normal clothing. “By… […]
Zeus Industrial Products onboards CathX Medical
Zeus Industrial Products has agreed to integrate catheter-based contract manufacturer CathX Medical into its organization. The financial terms of the agreement were not disclosed in yesterday’s announcement. San Jose, Calif.–based CathX provides catheter design engineering services, rapid prototyping, manufacturing, and full or sub-assemblies. CathX’s leadership will continue to manage the San Jose facility, services, and […]
DePuy Synthes launches next-gen variable angle clavicle plate system
Johnson & Johnson (NYSE:JNJ) unit DePuy Synthes announced that it launched the 2.7 mm variable angle locking compression plate (VA LCP) clavicle plate system. West Chester, Pa.-based DePuy Synthes designed the VA LCP clavicle plate system to treat lateral, shaft and medial fractures for small, medium and large clavicles. According to a news release, the new system offers… […]
Synopsys launches new software for Simpleware ScanIP Medical
Synopsys announced today that it launched a new software version to update the Simpleware ScanIP Medical program with FDA 510(k) clearance. According to Synopsys, the new software includes 3D medical printing and point-of-care 3D printing, making Simpleware ScanIP Medical one of just a handful of software programs to garner such clearance with 3D-printed models created… […]
This medtech is giving hope to migraine sufferers
Migraines are an ancient condition. In about 400 B.C., Hippocrates described visual symptoms of migraine aura that precede headache onset. But up until recently, neurologists had relatively few tools at their disposal to help migraine patients. The treatment landscape has evolved considerably in recent years, explains Alexander Feoktistov, a neurologist at the Synergy Integrative Headache… […]
DJO acquires Mathys AG Bettlach
Colfax Corp.’s DJO this week announced that it entered into a definitive agreement to acquire Mathys AG Bettlach for an undisclosed amount. Mathys makes and distributes products for artificial joint replacement, synthetic bone graft solutions and sports medicine. The acquisition is expected to strengthen DJO’s patient-focused innovation pipeline and broaden its reconstructive portfolio. “We are… […]
Private equity firms making majority investment in Medline
Medline Industries will stay a privately-held, family-run medtech giant after a majority investment from private equity firms. Blackstone, Carlyle and Hellman & Friedman are making the investment in Medline, which media reports peg at $34 billion. Medline will continue to be family-led by CEO Charlie Mills, President Andy Mills and COO Jim Abrams will continue… […]
MTD Micro Molding holds grand opening for facility expansion
MTD Micro Molding recently held a ribbon-cutting and grand opening for its expanded medical micro injection molding facility in Charlton, Mass. The May 27 event enabled industry partners and community leaders to tour the new space. The company in the fall completed the exterior of the 11,700 ft2 expansion, which roughly doubled cleanroom manufacturing space… […]
BD is upping its game on cybersecurity
BD (NYSE: BDX) is touting that it is the first medical technology company authorized as a Common Vulnerability and Exposures (CVE) Numbering Authority by the CVE Program. BD officials say the authorization further boosts the company’s healthcare cybersecurity leadership. Cybersecurity has become a major issue for the medical device industry, with FDA even appointing its… […]
Dabir Surfaces inks separate deals with group-purchasing companies Vizient, Premier
Dabir Surfaces (Harwood Heights, Ill.) announced this week that it has landed two new contracts with group-purchasing firms. Under the contract with Vizient, effective April 1, 2021, Dabir will provide powered overlay surfaces for patients at risk of developing pressure injuries in perioperative care and inpatient care, among other settings. The second agreement is a… […]
7 startups grabbing the medtech spotlight in Minnesota
Minnesota has long been one of the nation’s top three medtech hubs and a good place for startups to get their footing. For 17 years, the MN Cup contest has offered cash prizes and the opportunity for medtech (and other) startups to tap into expert help to accelerate their businesses. MN Cup is a community-led,… […]