Pulmonx (NASDAQ:LUNG) Issues Earnings Results

Pulmonx (NASDAQ:LUNG) announced its quarterly earnings results on Wednesday. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.07, Zacks reports. Pulmonx had a negative net margin of 88.60% and a negative return on equity of 46.63%. The company had revenue of $18.85 million for the quarter, compared to the consensus estimate of $17.54 million. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. Pulmonx updated its FY 2024 guidance to EPS.

Pulmonx Trading Up 21.5 %

Shares of Pulmonx stock traded up $1.66 during trading hours on Thursday, reaching $9.38. The stock had a trading volume of 1,503,319 shares, compared to its average volume of 514,849. The firm has a market capitalization of $361.51 million, a price-to-earnings ratio of -5.86 and a beta of 0.66. Pulmonx has a 1 year low of $7.11 and a 1 year high of $14.84. The company has a current ratio of 6.50, a quick ratio of 5.77 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $8.65 and a two-hundred day simple moving average of $10.69.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LUNG shares. Canaccord Genuity Group lowered their target price on Pulmonx from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup lifted their price objective on Pulmonx from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $17.00 price target on shares of Pulmonx in a research note on Wednesday, April 3rd. Wells Fargo & Company reissued an “equal weight” rating and set a $14.00 price objective (down previously from $16.00) on shares of Pulmonx in a research note on Friday, February 23rd. Finally, Stifel Nicolaus increased their price target on Pulmonx from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pulmonx currently has a consensus rating of “Moderate Buy” and an average price target of $16.33.

Insider Buying and Selling

In other Pulmonx news, CEO Glendon E. French III sold 6,954 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $9.06, for a total transaction of $63,003.24. Following the completion of the sale, the chief executive officer now directly owns 1,116,758 shares in the company, valued at $10,117,827.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Geoffrey Beran Rose sold 3,097 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $9.06, for a total transaction of $28,058.82. Following the transaction, the insider now directly owns 239,952 shares of the company’s stock, valued at approximately $2,173,965.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Glendon E. French III sold 6,954 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $9.06, for a total transaction of $63,003.24. Following the completion of the sale, the chief executive officer now directly owns 1,116,758 shares of the company’s stock, valued at approximately $10,117,827.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,032 shares of company stock valued at $469,012. 5.70% of the stock is currently owned by corporate insiders.

Pulmonx Company Profile

Pulmonx Corporation, a commercial-stage medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. The company offers Zephyr Endobronchial Valve, a solution for the treatment of patients with hyperinflation associated with severe emphysema; and Chartis Pulmonary Assessment System, a balloon catheter and console system with flow and pressure sensors that are used to assess the presence of collateral ventilation.