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

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

Pulmonx Price Performance

Shares of LUNG traded up $1.67 during mid-day trading on Thursday, hitting $9.39. The company’s stock had a trading volume of 907,636 shares, compared to its average volume of 510,685. Pulmonx has a fifty-two week low of $7.11 and a fifty-two week high of $14.84. The firm has a 50-day moving average price of $8.65 and a 200 day moving average price of $10.69. The stock has a market capitalization of $361.89 million, a price-to-earnings ratio of -6.07 and a beta of 0.66. The company has a debt-to-equity ratio of 0.30, a current ratio of 6.50 and a quick ratio of 5.77.

Wall Street Analysts Forecast Growth

LUNG has been the topic of several analyst reports. Citigroup upped their price target on shares of Pulmonx from $16.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Stifel Nicolaus increased their price objective on shares of Pulmonx from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Wells Fargo & Company restated an “equal weight” rating and set a $14.00 price objective (down from $16.00) on shares of Pulmonx in a research report on Friday, February 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $17.00 price target on shares of Pulmonx in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Pulmonx currently has an average rating of “Moderate Buy” and an average price target of $15.83.

Insider Buying and Selling

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