Pulmonx (NASDAQ:LUNG) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

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

Pulmonx Stock Up 21.5 %

Shares of LUNG traded up $1.66 during trading hours on Thursday, hitting $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 50 day simple moving average of $8.65 and a 200-day simple moving average of $10.69. Pulmonx has a 1-year low of $7.11 and a 1-year high of $14.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 6.50 and a quick ratio of 5.77. The firm has a market capitalization of $361.51 million, a P/E ratio of -5.86 and a beta of 0.66.

Analyst Ratings Changes

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

Insider Buying and Selling at Pulmonx

In other Pulmonx news, insider Geoffrey Beran Rose sold 3,097 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $9.06, for a total transaction of $28,058.82. Following the transaction, the insider now owns 239,952 shares in the company, valued at $2,173,965.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Glendon E. French III sold 20,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.60, for a total value of $292,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,121,344 shares of the company’s stock, valued at approximately $16,371,622.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Geoffrey Beran Rose sold 3,097 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $9.06, for a total value of $28,058.82. Following the transaction, the insider now owns 239,952 shares in the company, valued at $2,173,965.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,032 shares of company stock valued at $469,012. Company insiders own 5.70% of the company’s stock.

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.