Geode Capital Management LLC Raises Stock Holdings in Pulmonx Co. (NASDAQ:LUNG)

Geode Capital Management LLC boosted its holdings in shares of Pulmonx Co. (NASDAQ:LUNG) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 892,786 shares of the company’s stock after purchasing an additional 11,151 shares during the quarter. Geode Capital Management LLC’s holdings in Pulmonx were worth $7,403,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in LUNG. FMR LLC grew its position in shares of Pulmonx by 11.2% during the third quarter. FMR LLC now owns 5,872,882 shares of the company’s stock worth $48,686,000 after buying an additional 591,859 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Pulmonx by 5.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,114,297 shares of the company’s stock valued at $9,238,000 after acquiring an additional 55,279 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Pulmonx by 1.0% during the 2nd quarter. Victory Capital Management Inc. now owns 834,301 shares of the company’s stock worth $5,289,000 after acquiring an additional 8,004 shares in the last quarter. State Street Corp increased its position in shares of Pulmonx by 2.6% in the 3rd quarter. State Street Corp now owns 747,028 shares of the company’s stock worth $6,193,000 after purchasing an additional 18,592 shares during the last quarter. Finally, PFM Health Sciences LP bought a new stake in shares of Pulmonx in the 3rd quarter worth about $3,058,000. 91.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on LUNG. Stifel Nicolaus decreased their price target on Pulmonx from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company reduced their target price on Pulmonx from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Finally, Citigroup reiterated a “neutral” rating and issued a $7.50 price target (down from $17.00) on shares of Pulmonx in a report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.75.

Pulmonx Price Performance

LUNG opened at $6.52 on Friday. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $6.51 and its 200 day moving average price is $6.84. Pulmonx Co. has a fifty-two week low of $5.46 and a fifty-two week high of $14.84. The firm has a market cap of $257.46 million, a price-to-earnings ratio of -4.44 and a beta of 0.69.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. Pulmonx had a negative return on equity of 53.88% and a negative net margin of 72.01%. The business had revenue of $20.39 million for the quarter, compared to analysts’ expectations of $20.39 million. During the same period in the prior year, the firm earned ($0.39) EPS. As a group, sell-side analysts expect that Pulmonx Co. will post -1.53 earnings per share for the current year.

Insiders Place Their Bets

In other Pulmonx news, Director Glendon E. French III sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $6.52, for a total value of $130,400.00. Following the sale, the director now owns 1,091,974 shares in the company, valued at approximately $7,119,670.48. This trade represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David Aaron Lehman sold 5,497 shares of Pulmonx stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $6.19, for a total value of $34,026.43. Following the sale, the general counsel now directly owns 197,851 shares in the company, valued at approximately $1,224,697.69. This trade represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,873 shares of company stock valued at $324,070 over the last three months. Company insiders own 5.70% of the company’s stock.

Pulmonx Company 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.