According to Bloomberg, the eight rating agencies currently monitoring Pulmonx Co (NASDAQ: LUNG) have given the stock an average rating of “Moderate Buy,” indicating that investors should consider purchasing the company’s shares. Rating agencies have assigned this grade to the company’s shares based on their evaluations. Six equity research experts have given the company a buy recommendation, one analyst has given it a hold recommendation, and one analyst has given the stock a sell recommendation.
The company’s stock currently has an average price target of $14.38 per share, determined by analysts who updated their coverage during the previous year.
On February 22, the most recent financial results for Pulmonx, which is traded on the NASDAQ under the symbol LUNG, were made public.
The company reported earnings per share for the period at $0.38, which was $0.03 more than analysts’ consensus estimate of $0.41.
The company’s quarterly revenues came in at $15.40 million, a sizeable increase from the average prediction of $13.98 million in revenue.
Both the net margin for Pulmonx, which was negative by 109.80% and the return on equity for the company, which was negative by 35.08%, were negative. When measured against the same period in the prior year, the company’s quarterly revenue grew by 12.4%.
In the preceding year’s equivalent quarter, the business incurred a loss of $0.35 per share.
Equity research analysts forecast that Pulmonx will report an operating loss of $1.75 per share for its current fiscal year.
When trading started on Thursday, the share price of Pulmonx was established at $11.18 per share.
The company has a debt-to-equity ratio of 0.11, a quick ratio of 8.35, a current ratio of 9.14, and so forth.
A market capitalization of $420.90 million and a beta value of 0.32 have been assigned to the company.
The company has a price-to-earnings ratio of -7.03 at present.
The moving average for the company over the past 50 days is $9.55, and the moving average over the past 200 days is $10.98.
During the previous fifty-two weeks, the cost of a bottle of Pulmonx has ranged anywhere from $4.07 to $28.30, with a price of $28.30 serving as the product’s average.
Recently, various equity analysts have provided feedback to the company, which the company has considered.
In a research report made public on February 24, Citigroup increased the price target for Pulmonx from $10.00 to $12.00, moving it up from its previous level of $10.00.
The analyst firm also gave the company a “buy” rating.
Morgan Stanley upgraded their rating for Pulmonx from “equal weight” to “overweight” and increased their price target for the stock from $9.50 to $11.00 in a research note published on Thursday, February 23.
In a report released on Thursday, February 23, Canaccord Genuity Group upgraded their price target on Pulmonx from $18.00 to $20.00, giving the stock a “buy” rating.
Pulmonx was previously given an “equal weight” rating by Wells Fargo & Company, but that was changed to an “overweight” rating in a study released to the public on February 27.
In addition, they increased the price target for the stock from $10.00 to $15.00, which had previously been set at $10.00.
Last but not least, in a report made public on Tuesday, January 3, Bank of America changed its recommendation for Pulmonx from “neutral” to “underperform” and set its price objective at $8.00.
In other relevant news, on March 1, the company’s CEO, Glendon E. French III, sold 2,895 shares.
A total of $31,931.85 was spent on the stock purchase, which was done at an average price of $11.03 per share. Following the transaction’s conclusion, the company’s chief executive officer is now the direct owner of 1,032,580 shares of the company.
The value of these shares is $11,389,357.40.
If you follow this link, you will be taken to the filing submitted to the Securities and Exchange Commission, where the transaction was discussed, and it will take you there immediately.
During the period of the most recent three months, company insiders were responsible for the sale of 5,365 shares of stock at a total price of $59,176. Corporate insiders hold an equity stake in the company equivalent to 8.50 percent of the total equity.
Recent events have resulted in a shift in the proportion of the company’s stock held by institutional investors.
During the third quarter of the fiscal year, Ensign Peak Advisors, INC paid $30,000 to acquire a new interest in Pulmonx.
Point72 Hong Kong Ltd invested approximately $40,000 in Pulmonx during the first quarter of 2018 to establish a new position for itself in the company.
During the fourth quarter of 2018, Denali Advisors LLC invested approximately $62,000 to acquire a new stake in Pulmonx.
The fourth quarter saw Barclays PLC increase its ownership stake in Pulmonx by 499.0%, making it the largest single increase in the company’s history.
Barclays PLC increased its holdings in the company by 7,734 shares during the fourth quarter, bringing the total number of shares it owns in the company to 9,284 shares.
Each share is worth $79,000, so the company’s total holdings are worth $79,000.
In the final three months of 2018, Principal Financial Group, INC acquired a new holding in Pulmonx with an approximate value of $88,000.
This was not the only investment the company made during this time.
A variety of institutional investors, such as hedge funds and pension funds, collectively own 92.68% of the company’s shares.