Pulmonx corp director Glendon French sells $157,000 in stock

Published 21/03/2025, 23:16
Pulmonx corp director Glendon French sells $157,000 in stock

Glendon E. French III, a director at Pulmonx Corp (NASDAQ:LUNG), recently sold 20,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The medical device company, currently valued at $310 million, has shown strong momentum with a 13.4% return year-to-date according to InvestingPro data. The shares were sold at a weighted average price of $7.85, resulting in a total transaction value of $157,000. This sale was conducted under a Rule 10b5-1 trading plan, which French adopted on June 10, 2024. Following this transaction, French holds 991,974 shares in Pulmonx Corp. The shares were sold in multiple transactions, with prices ranging from $7.71 to $7.95. With analysts setting price targets between $8 and $17, and the stock currently trading near Fair Value, investors can access comprehensive insider trading analysis and 6 additional key insights through InvestingPro’s detailed research reports.

In other recent news, Pulmonx Corp. reported a robust fourth-quarter performance for 2024, with revenue reaching $23.8 million, marking a 23% increase year-over-year. The company also reported an earnings per share (EPS) of -$0.33, surpassing the forecasted -$0.4475. This earnings beat contributed to positive investor sentiment. Citi analysts responded by raising Pulmonx’s price target to $8.00, maintaining a Neutral rating, after the company exceeded revenue expectations and showed strong international growth.

Additionally, Canaccord Genuity reaffirmed its Buy rating on Pulmonx with a $16 price target, noting the company’s ambitious growth initiatives and strategic plans to reach cash flow profitability. Boral (OTC:BOALY) Capital also initiated coverage with a Buy rating and a $17 price target, citing Pulmonx’s innovative treatments and potential for market expansion. Pulmonx’s management emphasized the company’s focus on expanding physician adoption and international presence, projecting 2025 revenue between $96 million and $98 million, representing a growth of 16%-18%.

These recent developments highlight Pulmonx’s strategic focus on innovation and market expansion, as well as the positive outlook from multiple analyst firms.

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