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Integra LifeSciences Holdings Corporation (IART) - free report >>
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TransMedics (TMDX) Moves 10.1% Higher: Will This Strength Last?
TransMedics (TMDX - Free Report) shares rallied 10.1% in the last trading session to close at $159.14. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.3% loss over the past four weeks.
TransMedics scored a strong price increase driven by investors’ optimism following the news of the company joining the S&P SmallCap 600. On Sept. 26, per S&P Dow Jones’ press release, Transmedics will replace The Ensign Group in the S&P SmallCap 600 effective before trading on Tuesday, Oct. 1.
This medical technology company is expected to post quarterly earnings of $0.27 per share in its upcoming report, which represents a year-over-year change of +325%. Revenues are expected to be $114.22 million, up 71.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For TransMedics, the consensus EPS estimate for the quarter has been revised 1.9% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TMDX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
TransMedics is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Integra LifeSciences (IART - Free Report) , finished the last trading session 2.3% higher at $17.87. IART has returned -15.7% over the past month.
For Integra, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.39. This represents a change of -48.7% from what the company reported a year ago. Integra currently has a Zacks Rank of #5 (Strong Sell).