TransMedics Group Stock Tumbles 23% as Profit Hit Overshadows Organ-Transplant Growth
TransMedics Group shares slid roughly 23% on Wednesday after the organ-transplant tech company disclosed a steep decline in first-quarter profit. Sales actually increased, and executives stuck to their full-year revenue outlook. By late session, the stock had dropped $22.05 to $72.88. Volume had already cleared 3.5 million shares. This wasn’t a referendum on TransMedics’ growth—that’s still happening. The bigger issue: how pricey that growth is turning out to be, and if the company’s aircraft-driven transplant network can keep getting bigger without putting even more pressure on earnings.
