Northern Trust Corp Has $2.53 Million Stock Position in Pulmonx Co. (NASDAQ:LUNG)

Northern Trust Corp grew its holdings in shares of Pulmonx Co. (NASDAQ:LUNG) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 372,659 shares of the company’s stock after acquiring an additional 10,433 shares during the period. Northern Trust Corp owned about 0.94% of Pulmonx worth $2,530,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LUNG. R Squared Ltd bought a new position in shares of Pulmonx during the fourth quarter valued at $46,000. Stifel Financial Corp bought a new position in shares of Pulmonx during the fourth quarter valued at $81,000. SG Americas Securities LLC raised its stake in shares of Pulmonx by 27.0% during the fourth quarter. SG Americas Securities LLC now owns 15,555 shares of the company’s stock valued at $106,000 after acquiring an additional 3,310 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Pulmonx by 48.7% during the fourth quarter. Wells Fargo & Company MN now owns 18,418 shares of the company’s stock valued at $125,000 after acquiring an additional 6,033 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Pulmonx during the fourth quarter valued at $146,000. Institutional investors own 91.04% of the company’s stock.

Pulmonx Trading Down 0.3%

LUNG opened at $3.11 on Friday. Pulmonx Co. has a 1-year low of $2.97 and a 1-year high of $9.37. The company has a current ratio of 7.70, a quick ratio of 6.77 and a debt-to-equity ratio of 0.40. The company has a market cap of $125.20 million, a P/E ratio of -2.16 and a beta of 0.65. The company has a fifty day moving average price of $5.07 and a two-hundred day moving average price of $6.20.

Pulmonx (NASDAQ:LUNG) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.01. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. The firm had revenue of $22.54 million during the quarter, compared to the consensus estimate of $22.03 million. Analysts predict that Pulmonx Co. will post -1.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Citigroup dropped their price target on shares of Pulmonx from $6.50 to $4.15 and set a “neutral” rating for the company in a research note on Thursday. Morgan Stanley started coverage on shares of Pulmonx in a research note on Monday, March 10th. They set an “equal weight” rating for the company. Jefferies Financial Group started coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a “buy” rating for the company. Piper Sandler reissued an “overweight” rating and set a $9.00 target price (down previously from $10.00) on shares of Pulmonx in a research note on Thursday, May 1st. Finally, D. Boral Capital reissued a “buy” rating and set a $17.00 target price on shares of Pulmonx in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Pulmonx currently has an average rating of “Moderate Buy” and an average price target of $11.59.

Insider Buying and Selling

In other Pulmonx news, Director Glendon E. French III sold 20,000 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $7.85, for a total value of $157,000.00. Following the transaction, the director now directly owns 991,974 shares in the company, valued at $7,786,995.90. The trade was a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven S. Williamson sold 27,689 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $7.14, for a total transaction of $197,699.46. Following the completion of the transaction, the chief executive officer now owns 194,342 shares in the company, valued at approximately $1,387,601.88. The trade was a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,207 shares of company stock worth $669,334. 6.80% of the stock is owned by insiders.

Pulmonx 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.