Arizona State Retirement System Invests $235,000 in Pulmonx Co. (NASDAQ:LUNG)

Arizona State Retirement System bought a new position in shares of Pulmonx Co. (NASDAQ:LUNG) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 5,336 shares of the company’s stock, valued at approximately $235,000.

Other large investors have also added to or reduced their stakes in the company. Greenspring Associates LLC bought a new stake in shares of Pulmonx during the first quarter worth $26,000. Royal Bank of Canada raised its holdings in shares of Pulmonx by 119.0% in the first quarter. Royal Bank of Canada now owns 863 shares of the company’s stock valued at $40,000 after acquiring an additional 469 shares in the last quarter. Siguler Guff Advisers LLC bought a new stake in shares of Pulmonx in the second quarter valued at about $43,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Pulmonx in the first quarter valued at about $207,000. Finally, UBS Group AG raised its holdings in shares of Pulmonx by 118.1% in the first quarter. UBS Group AG now owns 4,534 shares of the company’s stock valued at $207,000 after acquiring an additional 2,455 shares in the last quarter. Institutional investors and hedge funds own 70.42% of the company’s stock.

Separately, Canaccord Genuity decreased their price objective on Pulmonx from $65.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, August 4th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Pulmonx presently has an average rating of “Buy” and an average price target of $56.50.

In related news, major shareholder Scientific Corp Boston sold 2,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 13th. The stock was sold at an average price of $37.45, for a total value of $93,625,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel P. Florin bought 2,222 shares of the company’s stock in a transaction that occurred on Friday, June 25th. The stock was purchased at an average price of $44.12 per share, for a total transaction of $98,034.64. Following the transaction, the director now owns 5,032 shares of the company’s stock, valued at $222,011.84. The disclosure for this purchase can be found here. Insiders have sold 2,591,159 shares of company stock worth $97,197,634 in the last 90 days. Insiders own 12.56% of the company’s stock.

LUNG opened at $37.85 on Wednesday. The business’s 50-day moving average is $39.41 and its two-hundred day moving average is $43.85. Pulmonx Co. has a 1 year low of $35.81 and a 1 year high of $69.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 14.28 and a quick ratio of 13.46. The firm has a market capitalization of $1.39 billion and a PE ratio of -16.31.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings results on Monday, August 2nd. The company reported ($0.34) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.03. Pulmonx had a negative return on equity of 33.72% and a negative net margin of 89.71%. As a group, sell-side analysts expect that Pulmonx Co. will post -1.43 EPS for the current year.

Pulmonx Profile

Pulmonx Corporation, a medical technology company, designs, develops, manufactures, and markets minimally invasive medical devices for the diagnosis and 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 with flow and pressure sensors that are used to assess the presence of collateral ventilation.

See Also: How does inflation affect different investments?

Want to see what other hedge funds are holding LUNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pulmonx Co. (NASDAQ:LUNG).

Institutional Ownership by Quarter for Pulmonx (NASDAQ:LUNG)

Receive News & Ratings for Pulmonx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pulmonx and related companies with MarketBeat.com's FREE daily email newsletter.