TransMedics Ushers In New CFO, Tightens 2024 Revenue Goals

TransMedics Group, Inc. (NASDAQ:TMDX) shares are trading lower premarket on Tuesday. On Monday, the company announced the appointment of Gerardo Hernandez as Chief Financial Officer, effective December 2, 2024.

Gerardo Hernandez will be succeeding Stephen Gordon, who will remain with the company as a non-executive employee until March 31, 2025, to ensure a seamless transition.

Waleed Hassanein, M.D., President and Chief Executive Officer, commented, “I am delighted to welcome Gerardo to the TransMedics leadership team as our new Chief Financial Officer. His proven record over two decades of leadership across FP&A functions within high-growth, complex global organizations makes him an ideal addition to our team.”

Moreover, the company also tweaked its financial outlook for 2024 and now expects revenue in the range of $428 million – $432 million versus the consensus of $432.36 million.

This compares with a prior view of $425 million – $445 million.

In October, the company reported a third-quarter EPS of $0.12, missing the consensus of $0.30, and sales of $108.8 million, up 64% year over year, but missing the consensus of $115 million.

At that time, the company said that they are on track to reach the target of achieving 10,000 OCS transplant cases per year in the U.S. by 2028.

TransMedics plans to host the Investor & Analyst Day on December 10, 2024.

Price Action: TMDX shares are down 8.37% at $78.01 premarket at the last check Tuesday.

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