Pulmonx Co. (NASDAQ:LUNG) Given Average Recommendation of “Buy” by Analysts

Pulmonx Co. (NASDAQ:LUNG – Get Rating) has earned a consensus rating of “Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $34.29.

A number of brokerages have issued reports on LUNG. Wells Fargo & Company reduced their target price on Pulmonx from $55.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, February 24th. Canaccord Genuity Group dropped their price target on Pulmonx from $53.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, February 28th. Citigroup dropped their price target on Pulmonx from $32.00 to $23.00 in a research report on Tuesday, May 17th. Morgan Stanley dropped their price target on Pulmonx from $37.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Friday, February 25th. Finally, Bank of America started coverage on Pulmonx in a research report on Wednesday, March 2nd. They issued a “neutral” rating and a $28.00 target price on the stock.

In other Pulmonx news, CEO Glendon E. French III sold 2,523 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $18.05, for a total transaction of $45,540.15. Following the transaction, the chief executive officer now owns 1,104,994 shares of the company’s stock, valued at approximately $19,945,141.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 4,599 shares of company stock worth $83,012 in the last ninety days. Insiders own 8.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. bought a new position in shares of Pulmonx during the 4th quarter worth approximately $26,000. Nisa Investment Advisors LLC bought a new position in shares of Pulmonx during the 4th quarter worth approximately $37,000. Point72 Hong Kong Ltd bought a new position in shares of Pulmonx during the 1st quarter worth approximately $40,000. Emerald Advisers LLC bought a new position in shares of Pulmonx during the 1st quarter worth approximately $50,000. Finally, Royal Bank of Canada boosted its stake in shares of Pulmonx by 113.1% during the 2nd quarter. Royal Bank of Canada now owns 1,839 shares of the company’s stock worth $81,000 after acquiring an additional 976 shares during the period. Institutional investors own 92.85% of the company’s stock.

Shares of LUNG opened at $16.52 on Tuesday. The company has a current ratio of 11.33, a quick ratio of 10.30 and a debt-to-equity ratio of 0.09. Pulmonx has a 1 year low of $15.06 and a 1 year high of $45.81. The stock has a market cap of $613.17 million, a P/E ratio of -11.80 and a beta of 1.69. The stock’s 50-day moving average price is $21.82 and its two-hundred day moving average price is $25.57.

Pulmonx (NASDAQ:LUNG – Get Rating) last issued its earnings results on Tuesday, May 3rd. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). Pulmonx had a negative return on equity of 26.08% and a negative net margin of 102.87%. The company had revenue of $10.79 million for the quarter, compared to the consensus estimate of $9.26 million. During the same quarter last year, the business posted ($0.34) EPS. Pulmonx’s quarterly revenue was up 16.7% on a year-over-year basis. As a group, equities analysts forecast that Pulmonx will post -1.6 EPS for the current year.

Pulmonx Company Profile (Get Rating)

Pulmonx Corporation, a medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. It offers Zephyr Endobronchial Valve, a solution for the treatment of bronchoscopic in adult 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.

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