Principal Financial Group Inc. Buys 146,115 Shares of TransMedics Group, Inc. (NASDAQ:TMDX)

Principal Financial Group Inc. lifted its stake in TransMedics Group, Inc. (NASDAQ:TMDX - Free Report) by 260.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 202,287 shares of the company's stock after acquiring an additional 146,115 shares during the period. Principal Financial Group Inc. owned 0.61% of TransMedics Group worth $31,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of TransMedics Group in the 2nd quarter valued at approximately $47,000. USA Financial Formulas acquired a new position in TransMedics Group in the 3rd quarter valued at approximately $55,000. J.Safra Asset Management Corp increased its stake in TransMedics Group by 649.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 442 shares of the company's stock valued at $67,000 after buying an additional 383 shares during the period. Signaturefd LLC increased its stake in TransMedics Group by 26.6% in the 2nd quarter. Signaturefd LLC now owns 443 shares of the company's stock valued at $67,000 after buying an additional 93 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in TransMedics Group by 187.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 485 shares of the company's stock valued at $76,000 after buying an additional 316 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of TransMedics Group from $173.00 to $116.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Piper Sandler restated an "overweight" rating and set a $180.00 price target on shares of TransMedics Group in a research note on Tuesday, October 29th. Baird R W upgraded shares of TransMedics Group to a "strong-buy" rating in a research note on Tuesday, September 24th. Morgan Stanley increased their price target on shares of TransMedics Group from $104.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Monday, July 15th. Finally, Canaccord Genuity Group dropped their price target on shares of TransMedics Group from $169.00 to $109.00 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $144.80.

Insiders Place Their Bets

In other TransMedics Group news, Director Edward M. Basile sold 6,750 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.55, for a total value of $563,962.50. Following the sale, the director now directly owns 732 shares in the company, valued at approximately $61,158.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Waleed H. Hassanein sold 8,625 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $153.42, for a total value of $1,323,247.50. Following the completion of the transaction, the chief executive officer now owns 61,643 shares of the company's stock, valued at approximately $9,457,269.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward M. Basile sold 6,750 shares of the firm's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.55, for a total transaction of $563,962.50. Following the completion of the transaction, the director now directly owns 732 shares of the company's stock, valued at approximately $61,158.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,958 shares of company stock worth $5,230,528. Company insiders own 7.00% of the company's stock.

TransMedics Group Stock Performance

Shares of TMDX traded up $2.17 during trading hours on Tuesday, reaching $91.28. 1,318,378 shares of the company traded hands, compared to its average volume of 955,913. The stock's fifty day moving average is $130.45 and its 200 day moving average is $139.89. The stock has a market cap of $3.06 billion, a P/E ratio of 101.04 and a beta of 2.08. The company has a debt-to-equity ratio of 2.42, a quick ratio of 7.33 and a current ratio of 8.20. TransMedics Group, Inc. has a 1-year low of $56.83 and a 1-year high of $177.37.

TransMedics Group (NASDAQ:TMDX - Get Free Report) last announced its earnings results on Monday, October 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.17). TransMedics Group had a return on equity of 18.74% and a net margin of 8.14%. The company had revenue of $108.76 million for the quarter, compared to analyst estimates of $115.00 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. TransMedics Group's revenue for the quarter was up 63.7% on a year-over-year basis. Equities research analysts anticipate that TransMedics Group, Inc. will post 1.07 earnings per share for the current fiscal year.

TransMedics Group Company Profile

TransMedics Group, Inc, a commercial-stage medical technology company, engages in transforming organ transplant therapy for end-stage organ failure patients in the United States and internationally. The company offers Organ Care System (OCS), a portable organ perfusion, optimization, and monitoring system that utilizes its proprietary and customized technology to replicate near-physiologic conditions for donor organs outside of the human body.