Why Shares of TransMedics Group Are Falling Friday
Shares of TransMedics Group (NASDAQ: TMDX) were down around 10% by 2:45 p.m. E.T. on Friday after the company announced second-quarter earnings. The healthcare stock is up more than 27% this year.
TransMedics is a medical technology company that developed the Organ Care System (OCS), an organ transplant therapy for end-stage organ failure patients, to improve and speed transplant outcomes. The company reported second-quarter earnings on Thursday after the markets closed. It said that revenue for the quarter was $52.5 million, up 156% year over year.
The company said the increase was due to a greater use of its OCS products for lungs, hearts, and livers. The company also substantially trimmed its losses to $1 million, compared to a loss of $11.5 million in the same period a year ago.
Source Fool.com
