Shares of TransMedics were trading above record highs in Tuesday’s after-hours session, following the release of first-quarter financial results that topped some analysts’ expectations.
The medical technology company’s stock rose 13% to $107.16 post-market, and closed the day’s regular session down 3.2% at $94.13. The stock hit an all-time high of $99.63 on July 19,
After the bell, the company reported first quarter revenue of $96.9 million and earnings per share of 35 cents. Analysts were expecting revenue of $83.8 million and earnings of 8 cents per share, according to FactSet.
In the year-ago period, the company reported revenue of $41.6 million, and a loss of 8 cents per share.
TransMedics also said it was raising its 2024 revenue guidance to $390 million to $400 million, up from its previous range of $360 million to $370 million.