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Home » TransMedics slides on Q1 earnings miss

TransMedics slides on Q1 earnings miss

May 5, 2021 By Sean Whooley

TransMedicsTransMedics (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.

Filed Under: Business/Financial News, Featured, MassDevice Earnings Roundup, Transplants, Wall Street Beat Tagged With: transmedics

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About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at [email protected].

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