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

Pulmonx (NASDAQ:LUNG - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.43) by $0.07, Zacks reports. The business had revenue of $18.85 million during the quarter, compared to the consensus estimate 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 in the prior year, the firm posted ($0.42) earnings per share. Pulmonx updated its FY 2024 guidance to EPS.

Pulmonx Price Performance

Shares of LUNG stock traded up $1.66 on Thursday, reaching $9.38. 1,503,319 shares of the company were exchanged, compared to its average volume of 514,849. The company has a market cap of $361.51 million, a price-to-earnings ratio of -5.86 and a beta of 0.66. The business has a 50-day moving average price of $8.65 and a 200 day moving average price of $10.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.77 and a current ratio of 6.50. Pulmonx has a 1 year low of $7.11 and a 1 year high of $14.84.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company reiterated an "equal weight" rating and issued a $14.00 price objective (down previously from $16.00) on shares of Pulmonx in a research report on Friday, February 23rd. Stifel Nicolaus upped their price objective on shares of Pulmonx from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, February 22nd. Piper Sandler reiterated an "overweight" rating and issued a $17.00 price objective on shares of Pulmonx in a research report on Wednesday, April 3rd. Canaccord Genuity Group decreased their price objective on shares of Pulmonx from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Citigroup boosted their target price on shares of Pulmonx from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Pulmonx presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.33.

Insider Transactions at Pulmonx

In related news, CEO Glendon E. French III sold 6,954 shares of the company's stock in a transaction dated 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 owns 1,116,758 shares of the company's stock, valued at approximately $10,117,827.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel David Aaron Lehman sold 4,351 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $9.06, for a total transaction of $39,420.06. Following the completion of the sale, the general counsel now owns 145,488 shares of the company's stock, valued at approximately $1,318,121.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Glendon E. French III sold 6,954 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $9.06, for a total transaction of $63,003.24. Following 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. Insiders sold 39,032 shares of company stock valued at $469,012 over the last 90 days. Corporate insiders own 5.70% of the company's stock.

About Pulmonx

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.