TransMedics stock plunges 10% on updated guidance after naming new CFO

ANDOVER, MA - TransMedics Group, Inc. (NASDAQ:TMDX ), a pioneer in organ transplant technology, announced today the appointment of Gerardo Hernandez as Chief Financial Officer, effective today. The company also issued updated guidance that sent TMDX shares 10% lower.

Mr. Hernandez succeeds Stephen Gordon, who will transition to a senior advisory role focusing on national transplant stakeholder engagement through March 2026.

Mr. Hernandez brings over 25 years of financial expertise to TransMedics, having previously held leadership roles at Alnylam Pharmaceuticals (NASDAQ:ALNY ) and Shire. His experience spans healthcare and consumer packaged goods sectors, with a track record of guiding companies through periods of rapid growth.

The company released its financial outlook for the full year 2024, projecting revenues to be between $428 million and $432 million. This represents an increase of 77% to 79% compared to the previous year, indicating robust growth, but is lower than the previously guided range.

Dr. Waleed Hassanein, President and CEO of TransMedics, praised Mr. Gordon for his role in the company's transition from a clinical stage organization to a high-growth commercial business. He also expressed enthusiasm for Mr. Hernandez's future contributions to the company's long-term growth and shareholder value.

The leadership team, including Dr. Hassanein, Mr. Hernandez, and Mr. Gordon, will attend several upcoming conferences, including the Piper Sandler Conference today, the TransMedics Investor & Analyst Day on December 10, and the J.P. Morgan Healthcare Conference in January 2025.

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Source: Investing.com