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

Pulmonx (NASDAQ:LUNG) posted its earnings results on Wednesday. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07, Zacks reports. Pulmonx had a negative return on equity of 46.61% and a negative net margin of 80.46%. The business had revenue of $18.85 million during the quarter, compared to analyst estimates of $17.54 million. During the same quarter last year, the firm earned ($0.42) earnings per share. Pulmonx updated its FY 2024 guidance to EPS.

Pulmonx Price Performance

Shares of LUNG stock traded up $0.44 during mid-day trading on Friday, hitting $9.82. 999,822 shares of the stock traded hands, compared to its average volume of 523,770. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.77 and a current ratio of 6.50. The firm has a market cap of $378.46 million, a price-to-earnings ratio of -6.27 and a beta of 0.66. The company’s 50-day simple moving average is $8.60 and its 200-day simple moving average is $10.69. Pulmonx has a twelve month low of $7.11 and a twelve month high of $14.84.

Analyst Upgrades and Downgrades

A number of research firms have commented on LUNG. Canaccord Genuity Group reduced their target price on Pulmonx from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday. Piper Sandler restated an “overweight” rating and issued a $17.00 target price on shares of Pulmonx in a research report on Wednesday, April 3rd. Stifel Nicolaus raised their target price on Pulmonx from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Wells Fargo & Company reiterated an “equal weight” rating and set a $14.00 price target (down from $16.00) on shares of Pulmonx in a research report on Friday, February 23rd. Finally, Citigroup lifted their price target on Pulmonx from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. 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 stock currently has an average rating of “Moderate Buy” and an average target price of $16.33.

Insider Buying and Selling

In related news, insider Geoffrey Beran Rose sold 3,097 shares of Pulmonx stock in a transaction on Friday, March 1st. The stock was sold at an average price of $9.06, for a total value of $28,058.82. Following the transaction, the insider now directly owns 239,952 shares in the company, valued at approximately $2,173,965.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pulmonx news, CEO Glendon E. French III sold 20,000 shares of the business’s stock in a transaction dated 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 owns 1,121,344 shares of the company’s stock, valued at $16,371,622.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Geoffrey Beran Rose sold 3,097 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $9.06, for a total value of $28,058.82. Following the completion of the sale, the insider now directly owns 239,952 shares of the company’s stock, valued at approximately $2,173,965.12. The disclosure for this sale can be found here. Insiders have sold 39,032 shares of company stock worth $469,012 in the last three months. 5.70% of the stock is currently owned by 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.