Pulmonx executive sells over $30,000 in company stock

Pulmonx Corp (NASDAQ:LUNG) Chief Commercial Officer, Rose Geoffrey Beran, has recently sold a significant amount of company stock, according to the latest SEC filings. Beran sold shares in a series of transactions, all taking place on September 3, 2024, with prices ranging from $6.69 to $6.71 per share.

The transactions included the sale of 410 shares at $6.71 each, 724 shares at $6.69, 1,842 shares also at $6.69, and finally, 1,610 shares at $6.71. The total value of the shares sold at the $6.71 price point was approximately $13,554, while the sales at $6.69 per share amounted to approximately $17,165. In total, Beran disposed of company stock worth over $30,000.

The SEC filing indicated that these sales were made by Beran to cover tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs) granted on various dates ranging from June 1, 2021, to March 1, 2024. Following these transactions, Beran's remaining ownership in Pulmonx Corp consists of 295,433 shares.

Investors often keep a close eye on insider transactions such as these, as they can provide insights into an executive's view of the company's current valuation and future prospects. Pulmonx Corp, known for its surgical and medical instruments and apparatus, remains a notable player in the medical technology sector.

In other recent news, Pulmonx Corp. reported a significant 21% year-over-year increase in its second-quarter revenue, amounting to $20.8 million. This figure surpassed both the estimates from Canaccord Genuity and the consensus. Pulmonx's earnings per share (EPS) for the quarter were reported at ($0.39), better than both Canaccord's and consensus estimates. Canaccord Genuity maintained a Buy rating on Pulmonx and increased the price target to $16.00, following these strong results.

Additionally, Pulmonx's disciplined approach to operating expenses and its successful expansion into new centers contributed to its robust financial performance. In the U.S., Pulmonx's revenue reached $13.9 million, exceeding Canaccord's forecast, and the company added 17 new centers in the second quarter.

Lake Street Capital Markets also initiated coverage on Pulmonx with a Buy rating. Despite the company's decision to reiterate its full-year 2024 guidance, Canaccord Genuity maintained its positive outlook, citing Pulmonx's ongoing commercial efforts in the U.S. and its post-approval study in Japan. These are all recent developments in the company's operations.

InvestingPro Insights

Pulmonx Corp's (NASDAQ:LUNG) recent insider stock sale by Chief Commercial Officer Rose Geoffrey Beran has drawn attention to the company's financial health and market performance. To provide investors with a more comprehensive view, InvestingPro data reveals key metrics about Pulmonx's current financial standing.

The company holds a market capitalization of approximately $270.54 million, which is an important indicator of its size in the competitive medical technology sector. Despite this, the company's P/E ratio stands at -4.52, reflecting investor concerns about its profitability in the near term. This is further underscored by a negative PEG ratio of -0.64, indicating that the market may not expect future earnings growth to justify the current P/E ratio.

In terms of revenue, Pulmonx has experienced a growth of 26.26% over the last twelve months as of Q2 2024, a positive sign of the company's ability to increase sales. However, it's worth noting that the company's operating income margin is currently at -77.37%, suggesting that despite growing revenues, profitability remains a challenge.

InvestingPro Tips indicate that Pulmonx holds more cash than debt on its balance sheet, which can be a sign of financial stability and the ability to invest in growth opportunities or weather economic downturns. Additionally, liquid assets exceed short term obligations, providing the company with flexibility in managing its finances.

Yet, analysts have revised their earnings expectations downwards for the upcoming period, and they do not anticipate the company will be profitable this year. This may have contributed to the stock's significant decline over the last week, with a price total return of -9.84%.

For those seeking further insights into Pulmonx Corp's financial outlook and stock performance, InvestingPro offers additional tips, which can be found at https://www.investing.com/pro/LUNG.

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