TransMedics Group, Inc. (TMDX) shares are experiencing a significant decline today following the company's announcement of worse-than-expected full-year 2024 revenue guidance. The company now anticipates revenue in the range of $425 million to $440 million, which has disappointed investors and analysts alike. This guidance comes on the heels of a previous earnings miss, where TransMedics reported third-quarter earnings per share of $0.12, falling short of the $0.29 expected by analysts. The combination of these factors has led to a negative sentiment around the stock.
Additionally, the market reacted to a recent news release from TransMedics that hinted at slightly slower sales growth in the fourth quarter, projecting a 35% increase. Despite the appointment of a new CFO, Gerardo Hernandez, the market's focus remained on the company's financial outlook, contributing to the stock's decline.
TransMedics Group's stock is currently trading at $71.80, down 15.67% from its previous close of $85.14, and has decreased by 6.76% from its opening price of $77.00.