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Update: TransMedics Shares Drop After Oppenheimer Downgrade Following Q1 Miss

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-- (Updates with the latest stock price movement and Oppenheimer downgrade in the headline and the first paragraph.)

TransMedics (TMDX) shares fell past 25% in afternoon trading on Wednesday after Oppenheimer downgraded the stock to market perform from outperform, a day after the company posted lower-than-expected Q1 results.

The company reported Q1 adjusted net income late Tuesday of $0.30 per diluted share, down from $0.74 a year earlier.

Analysts polled by FactSet expected $0.60.

Revenue in the three months ended March 31 rose to $173.9 million from $143.5 million a year earlier.

Analysts surveyed by FactSet expected $174.5 million.

The company reiterated its 2026 revenue guidance of $727 million to $757 million. Analysts expect $740.2 million.

Price: $71.15, Change: $-23.78, Percent Change: -25.05%

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