Stephens Inc. AR Sells 122,983 Shares of Pulmonx Co. (NASDAQ:LUNG)

Stephens Inc. AR lessened its holdings in shares of Pulmonx Co. (NASDAQ:LUNG) by 20.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 480,199 shares of the company’s stock after selling 122,983 shares during the quarter. Stephens Inc. AR’s holdings in Pulmonx were worth $21,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Pulmonx by 153.4% during the 2nd quarter. BlackRock Inc. now owns 2,323,639 shares of the company’s stock valued at $102,520,000 after buying an additional 1,406,718 shares in the last quarter. Primecap Management Co. CA grew its holdings in Pulmonx by 64.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,959,343 shares of the company’s stock valued at $86,446,000 after purchasing an additional 767,343 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its position in Pulmonx by 102.2% in the 1st quarter. Deerfield Management Company L.P. Series C now owns 937,032 shares of the company’s stock valued at $42,860,000 after buying an additional 473,521 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Pulmonx by 94.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,923 shares of the company’s stock worth $32,838,000 after purchasing an additional 348,008 shares during the period. Finally, TimesSquare Capital Management LLC lifted its position in shares of Pulmonx by 85.0% in the 2nd quarter. TimesSquare Capital Management LLC now owns 651,110 shares of the company’s stock worth $28,727,000 after purchasing an additional 299,110 shares during the period. Institutional investors own 70.42% of the company’s stock.

Separately, Canaccord Genuity cut their price target on shares of Pulmonx from $65.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, August 4th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $56.50.

In other news, major shareholder Scientific Corp Boston sold 2,500,000 shares of the stock in a transaction that occurred on Tuesday, July 13th. The stock was sold at an average price of $37.45, for a total transaction of $93,625,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel P. Florin acquired 2,500 shares of Pulmonx stock in a transaction that occurred on Monday, July 12th. The shares were purchased at an average price of $40.00 per share, for a total transaction of $100,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 2,624,730 shares of company stock worth $98,354,637 over the last quarter. Insiders own 12.56% of the company’s stock.

Shares of NASDAQ:LUNG traded down $0.72 during trading on Tuesday, hitting $37.78. 4,366 shares of the company were exchanged, compared to its average volume of 352,978. The stock has a market capitalization of $1.39 billion and a P/E ratio of -16.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 14.28 and a quick ratio of 13.46. Pulmonx Co. has a 12-month low of $35.81 and a 12-month high of $69.48. The firm’s 50 day moving average price is $39.22 and its 200-day moving average price is $42.70.

Pulmonx (NASDAQ:LUNG) last announced its earnings results on Monday, August 2nd. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.03. The business had revenue of $12.20 million for the quarter, compared to analysts’ expectations of $10.26 million. Pulmonx had a negative net margin of 89.71% and a negative return on equity of 33.72%. As a group, equities research analysts anticipate that Pulmonx Co. will post -1.43 EPS for the current year.

Pulmonx Profile

Pulmonx Corporation, a medical technology company, designs, develops, manufactures, and markets minimally invasive medical devices for the diagnosis and treatment of chronic obstructive pulmonary diseases. It offers Zephyr Endobronchial Valve, a solution for the treatment of bronchoscopic in adult patients with hyperinflation associated with severe emphysema; and Chartis Pulmonary Assessment System, a balloon catheter and console with flow and pressure sensors that are used to assess the presence of collateral ventilation.

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Institutional Ownership by Quarter for Pulmonx (NASDAQ:LUNG)

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