Principal Financial Group Inc. Has $23.01 Million Stock Holdings in TransMedics Group, Inc. $TMDX

Key Points

• Principal Financial Group increased its stake in TransMedics Group by 19.4% in the first quarter, ending with 231,433 shares worth about $23.0 million.
• TransMedics reported Q1 earnings of $0.30 per share, missing estimates of $0.62, while revenue of $173.93 million came in roughly in line with expectations and rose 21.2% year over year.
• Analyst sentiment remains mixed: the stock has a Hold consensus rating with an average price target of $134.50, though several firms recently cut ratings or lowered targets.

Principal Financial Group Inc. lifted its holdings in shares of TransMedics Group, Inc. (NASDAQ:TMDX - Free Report) by 19.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,433 shares of the company's stock after purchasing an additional 37,656 shares during the period. Principal Financial Group Inc. owned 0.67% of TransMedics Group worth $23,007,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in TransMedics Group by 50.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 965,931 shares of the company's stock valued at $117,506,000 after buying an additional 322,353 shares during the period. Two Sigma Investments LP increased its stake in shares of TransMedics Group by 54.2% in the 3rd quarter. Two Sigma Investments LP now owns 635,394 shares of the company's stock valued at $71,291,000 after acquiring an additional 223,409 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of TransMedics Group by 100.5% in the 4th quarter. Wellington Management Group LLP now owns 433,321 shares of the company's stock valued at $52,713,000 after acquiring an additional 217,180 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of TransMedics Group by 43.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 569,970 shares of the company's stock valued at $69,338,000 after acquiring an additional 171,810 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of TransMedics Group by 11.9% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,069,492 shares of the company's stock valued at $119,997,000 after acquiring an additional 113,817 shares during the period. Institutional investors and hedge funds own 99.67% of the company's stock.

TransMedics Group Price Performance

Shares of TMDX opened at $73.47 on Tuesday. The business's fifty day moving average is $71.02 and its 200 day moving average is $104.11. TransMedics Group, Inc. has a 12-month low of $60.10 and a 12-month high of $156.00. The company has a quick ratio of 6.19, a current ratio of 6.74 and a debt-to-equity ratio of 1.70. The stock has a market cap of $2.54 billion, a P/E ratio of 16.70 and a beta of 1.89.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.32). TransMedics Group had a net margin of 27.04% and a return on equity of 22.38%. The business had revenue of $173.93 million for the quarter, compared to the consensus estimate of $174.44 million. During the same quarter last year, the firm posted $0.70 EPS. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. Sell-side analysts anticipate that TransMedics Group, Inc. will post 1.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on TMDX shares. Zacks Research cut shares of TransMedics Group from a "hold" rating to a "strong sell" rating in a report on Monday, July 6th. UBS Group reiterated a "hold" rating on shares of TransMedics Group in a report on Tuesday, May 26th. Wall Street Zen cut shares of TransMedics Group from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Piper Sandler reduced their target price on TransMedics Group from $160.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, May 6th. Finally, Stifel Nicolaus boosted their target price on TransMedics Group from $75.00 to $80.00 and gave the company a "hold" rating in a research report on Thursday, June 18th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $134.50.

Insider Activity

In other news, Director Thomas J. Gunderson sold 9,624 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $75.06, for a total transaction of $722,377.44. Following the completion of the sale, the director directly owned 16,642 shares of the company's stock, valued at $1,249,148.52. The trade was a 36.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.90% of the stock is owned by corporate insiders.

TransMedics Group Profile

TransMedics Group, Inc is a medical device company headquartered in Andover, Massachusetts, that specializes in advanced organ preservation and transport systems for transplantation. The company's flagship technology, the Organ Care System (OCS), maintains donor organs in a near-physiologic, warm, beating state during transportation, with the aim of extending preservation times and improving post‐transplant outcomes. TransMedics' solutions address a critical need in transplantation by reducing ischemic injury and expanding the donor organ pool.

TransMedics currently markets two commercially available OCS platforms.

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