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Why TransMedics Group Stock Is Soaring Today

TheMotleyFool

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Why TransMedics Group Stock Is Soaring Today: https://g.foolcdn.com/editorial/images/785530/liver-doctor.jpg

Shares of TransMedics Group (NASDAQ: TMDX) were soaring 11.1% higher as of 11:22 a.m. ET on Thursday. The big gain came after the medical technology company announced its second-quarter results following the market close on Wednesday.

TransMedics reported Q2 revenue of $114.3 million, up 118% year over year. It generated net income of $12.2 million, or $0.35 per diluted share. In the same quarter of 2023, TransMedics posted a net loss of $1 million.

The company also raised its full-year revenue guidance to between $425 million and $445 million, which reflects year-over-year growth of 76% to 84%. TransMedics previously projected full-year revenue in the range of $390 million to $400 million.

Source Fool.com

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