Pulmonx (NASDAQ:LUNG) Releases Quarterly Earnings Results, Meets Expectations

Key Points

• Pulmonx reported adjusted EPS of ($0.33), matching consensus, and revenue of $20.59 million (vs. $20.43M expected), while showing a negative ROE of 82.79% and a net margin of -59.67%.
• The stock traded at $1.20 (down $0.03) with a market cap of $50.68 million, and Wall Street holds a consensus "Hold" rating with a $5.38 target amid mixed analyst views.
• Insider activity: CEO Glendon E. French III sold 67,813 shares at an average $1.43 (a 4.59% reduction in his position); insiders have sold 98,265 shares in the last 90 days and own 6.8% of the company.

Pulmonx (NASDAQ:LUNG - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.33) earnings per share for the quarter, meeting the consensus estimate of ($0.33), FiscalAI reports. Pulmonx had a negative return on equity of 82.79% and a negative net margin of 59.67%.The firm had revenue of $20.59 million for the quarter, compared to analysts' expectations of $20.43 million.

Pulmonx Price Performance

Shares of LUNG traded down $0.03 during trading hours on Wednesday, reaching $1.20. 1,071,789 shares of the company's stock traded hands, compared to its average volume of 468,777. The stock has a market cap of $50.68 million, a PE ratio of -0.90 and a beta of 0.19. The company has a current ratio of 5.07, a quick ratio of 4.28 and a debt-to-equity ratio of 0.68. The firm's 50 day simple moving average is $1.45 and its 200-day simple moving average is $1.72. Pulmonx has a 12 month low of $1.13 and a 12 month high of $5.46.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Canaccord Genuity Group cut their price target on shares of Pulmonx from $6.00 to $5.00 and set a "buy" rating for the company in a report on Thursday, March 5th. D. Boral Capital reissued a "buy" rating and issued a $14.00 price target on shares of Pulmonx in a report on Thursday, March 5th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Pulmonx in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Pulmonx presently has a consensus rating of "Hold" and a consensus target price of $5.38.

Insider Activity

In other news, CEO Glendon E. French III sold 67,813 shares of Pulmonx stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $1.43, for a total transaction of $96,972.59. Following the completion of the sale, the chief executive officer owned 1,409,511 shares in the company, valued at approximately $2,015,600.73. This trade represents a 4.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 98,265 shares of company stock worth $140,519. Company insiders own 6.80% of the company's stock.

Institutional Trading of Pulmonx

A number of large investors have recently modified their holdings of LUNG. ExodusPoint Capital Management LP bought a new stake in shares of Pulmonx during the 4th quarter valued at about $4,312,000. Vestal Point Capital LP bought a new stake in Pulmonx in the 3rd quarter worth approximately $1,345,000. Bank of America Corp DE lifted its position in Pulmonx by 556.6% in the 2nd quarter. Bank of America Corp DE now owns 481,268 shares of the company's stock worth $1,246,000 after buying an additional 407,971 shares during the last quarter. Birchview Capital LP bought a new stake in Pulmonx in the 4th quarter worth approximately $554,000. Finally, Kotler Kevin bought a new stake in Pulmonx in the 4th quarter worth approximately $442,000. Institutional investors own 91.04% of the company's stock.

Pulmonx Company Profile

Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company's flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.

The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.

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