Update: TransMedics Shares Drop After Oppenheimer Downgrade Following Q1 Miss
(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%