In today’s briefing:
- India: Potential Free Float Changes & Passive Flows in 3 Weeks
- 2025 High Conviction Update: TransMedics, Cut Long Exposure and Move To the Sidelines
India: Potential Free Float Changes & Passive Flows in 3 Weeks
- Companies in India have disclosed their shareholding pattern as of end-March in April. There are companies with significant float changes from end-December and/or end-September.
- The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in action from passive trackers.
- Depending on the date that the shareholding was published, there could be 6 stocks with passive inflows from global trackers while 4 could see passive outflows in May.
2025 High Conviction Update: TransMedics, Cut Long Exposure and Move To the Sidelines
- TransMedics Group stock surged ~20% on blowout 1Q’25 earnings on Friday after the company beat earnings expectations and hiked 2025 revenue guidance.
- I launched coverage of the stock in November 2024 and added TransMedics Group to my high conviction list of ideas.
- TransMedics Group shares have massively outperformed in 2025 with shares up ~79% over the year. I acknowledge limited upside and lower my PT to $118 on peer-group multiple compression.
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