Piper Sandler Reaffirms “Overweight” Rating for Pulmonx (NASDAQ:LUNG)

Pulmonx (NASDAQ:LUNGGet Free Report)‘s stock had its “overweight” rating restated by analysts at Piper Sandler in a report issued on Wednesday, Benzinga reports. They currently have a $17.00 price target on the stock. Piper Sandler’s price objective indicates a potential upside of 108.08% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus upped their price objective on shares of Pulmonx from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Wells Fargo & Company reissued an “equal weight” rating and issued a $14.00 price objective (down from $16.00) on shares of Pulmonx in a research report on Friday, February 23rd. Finally, Citigroup upped their price objective on shares of Pulmonx from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.83.

View Our Latest Stock Report on LUNG

Pulmonx Stock Down 4.0 %

Pulmonx stock traded down $0.34 during trading on Wednesday, reaching $8.17. 84,205 shares of the company’s stock were exchanged, compared to its average volume of 490,731. The company’s 50-day moving average is $11.32 and its two-hundred day moving average is $11.02. 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 52-week low of $7.75 and a 52-week high of $14.84. The firm has a market cap of $314.87 million, a price-to-earnings ratio of -5.12 and a beta of 0.60.

Pulmonx (NASDAQ:LUNGGet Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.02. The firm had revenue of $19.30 million during the quarter, compared to analysts’ expectations of $18.24 million. Pulmonx had a negative net margin of 88.60% and a negative return on equity of 46.63%. The firm’s revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.38) EPS. On average, analysts predict that Pulmonx will post -1.79 earnings per share for the current year.

Insider Activity

In other news, CEO Glendon E. French III sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $12.77, for a total value of $127,700.00. Following the sale, the chief executive officer now owns 1,141,344 shares in the company, valued at approximately $14,574,962.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Glendon E. French III sold 20,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.60, for a total transaction of $292,000.00. Following the sale, the chief executive officer now owns 1,121,344 shares in the company, valued at $16,371,622.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Glendon E. French III sold 10,000 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $12.77, for a total transaction of $127,700.00. Following the sale, the chief executive officer now owns 1,141,344 shares in the company, valued at approximately $14,574,962.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,032 shares of company stock worth $603,390. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pulmonx

Several institutional investors and hedge funds have recently bought and sold shares of LUNG. Swiss National Bank raised its stake in Pulmonx by 8.9% during the first quarter. Swiss National Bank now owns 47,900 shares of the company’s stock worth $1,188,000 after acquiring an additional 3,900 shares during the period. MetLife Investment Management LLC raised its stake in Pulmonx by 58.5% during the first quarter. MetLife Investment Management LLC now owns 15,791 shares of the company’s stock worth $392,000 after acquiring an additional 5,828 shares during the period. Rhumbline Advisers increased its stake in shares of Pulmonx by 6.4% in the first quarter. Rhumbline Advisers now owns 26,701 shares of the company’s stock valued at $662,000 after purchasing an additional 1,617 shares during the period. BlackRock Inc. increased its stake in shares of Pulmonx by 1.5% in the first quarter. BlackRock Inc. now owns 2,760,055 shares of the company’s stock valued at $68,477,000 after purchasing an additional 41,724 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Pulmonx by 36.0% in the first quarter. Sei Investments Co. now owns 111,500 shares of the company’s stock valued at $2,766,000 after purchasing an additional 29,500 shares during the period. Institutional investors and hedge funds own 91.04% of the company’s stock.

About Pulmonx

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Pulmonx (NASDAQ:LUNG)

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