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Mehul Joshi, the Chief Financial Officer of Pulmonx Corp (NASDAQ:LUNG), recently sold a significant portion of the company’s stock. According to a recent SEC filing, Joshi sold 14,384 shares of common stock on March 3, 2025, at an average price of $7.12 per share, amounting to a total transaction value of approximately $102,414. The transaction was executed to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs) granted on May 6, 2024. The sale comes as Pulmonx shares have experienced an 11% decline over the past week, though maintaining a strong 20% gain year-to-date, according to InvestingPro data.
Following this sale, Joshi’s direct ownership of Pulmonx shares stands at 113,986 shares. Additionally, on the same day, Joshi received a grant of 108,000 RSUs, which will vest in equal quarterly installments over four years starting from the grant date of March 3, 2025. While the company currently maintains strong liquidity with a current ratio of 5.58 and holds more cash than debt, InvestingPro analysis reveals several additional key metrics and insights available to subscribers, including detailed Fair Value assessments and comprehensive financial health scores.
In other recent news, Pulmonx Corp reported a strong fourth-quarter performance for 2024, with revenue reaching $23.8 million, marking a 23% year-over-year increase. The company’s earnings per share (EPS) was reported at -$0.33, surpassing the forecast of -$0.4475, indicating an improved financial performance. Pulmonx’s international revenue saw a significant boost, growing by 42%, while U.S. revenue increased by 16%. Citi analysts responded to these results by raising Pulmonx’s stock price target from $7.50 to $8.00, maintaining a Neutral rating. Despite the revenue increase, the company experienced a slight decrease in gross margins to 74.0% from 74.7% the previous year. Pulmonx’s management has provided guidance for 2025, projecting revenue between $96 million and $98 million, representing a growth of 16%-18% excluding foreign exchange impacts. The company continues to focus on expanding its international presence and launching new products to drive future growth. Pulmonx ended the year with $101.5 million in cash, cash equivalents, and marketable securities.
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