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

Key Points

• Pulmonx beat quarterly expectations: The company reported a loss of $0.19 per share, $0.07 better than consensus, while revenue of $22.84 million exceeded estimates of $21.93 million. However, it remained unprofitable, with a negative net margin of 55.03%.
• Shares remain under pressure: Pulmonx stock closed at $1.98, with a market capitalization of approximately $85 million and a 52-week range of $1.13 to $2.89.
• Analyst sentiment is mixed but leans positive: The stock has a “Moderate Buy” consensus rating and an average price target of $7.67, while insiders recently sold shares to cover tax obligations tied to equity awards.

Pulmonx (NASDAQ:LUNG - Get Free Report) released its earnings results on Tuesday. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.07, FiscalAI reports. Pulmonx had a negative net margin of 55.03% and a negative return on equity of 96.66%. The company had revenue of $22.84 million during the quarter, compared to analysts' expectations of $21.93 million.

Pulmonx Stock Performance

LUNG traded up $0.03 on Tuesday, reaching $1.98. 371,208 shares of the stock were exchanged, compared to its average volume of 472,060. The company's 50-day moving average price is $2.02 and its 200 day moving average price is $1.65. Pulmonx has a fifty-two week low of $1.13 and a fifty-two week high of $2.89. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.32 and a quick ratio of 3.52. The firm has a market capitalization of $85.04 million, a PE ratio of -1.71 and a beta of 0.33.

Insider Buying and Selling at Pulmonx

In other news, insider Srikanth Radhakrishnan sold 14,245 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $2.26, for a total value of $32,193.70. Following the transaction, the insider directly owned 316,994 shares of the company's stock, valued at approximately $716,406.44. This represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Glendon French, III sold 41,882 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $2.26, for a total value of $94,653.32. Following the completion of the transaction, the chief executive officer owned 1,137,936 shares of the company's stock, valued at approximately $2,571,735.36. The trade was a 3.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 78,340 shares of company stock worth $177,048. 7.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Pulmonx from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 25th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.67.

Pulmonx Company Profile

Pulmonx Corporation is a medical device company focused on developing minimally invasive treatments for patients with severe emphysema, a form of chronic obstructive pulmonary disease (COPD). The company's technologies are designed to reduce hyperinflation in damaged portions of the lung and help improve breathing, exercise capacity and quality of life.

Pulmonx's primary product is the Zephyr Endobronchial Valve, a bronchoscopically implanted, one-way valve intended for certain patients with severe emphysema.

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