Primecap Management Co. CA Reduces Holdings in Pulmonx Co. (NASDAQ:LUNG)

Primecap Management Co. CA reduced its holdings in shares of Pulmonx Co. (NASDAQ:LUNG) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,512,291 shares of the company’s stock after selling 163,720 shares during the quarter. Primecap Management Co. CA owned approximately 13.96% of Pulmonx worth $37,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. 272 Capital LP purchased a new position in Pulmonx during the 3rd quarter valued at about $25,000. R Squared Ltd purchased a new position in Pulmonx during the 4th quarter valued at about $46,000. SG Americas Securities LLC increased its holdings in Pulmonx by 27.0% during the 4th quarter. SG Americas Securities LLC now owns 15,555 shares of the company’s stock valued at $106,000 after acquiring an additional 3,310 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Pulmonx by 4.9% during the 4th quarter. Rhumbline Advisers now owns 53,503 shares of the company’s stock worth $363,000 after purchasing an additional 2,488 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Pulmonx during the 3rd quarter worth about $480,000. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LUNG shares. Morgan Stanley started coverage on shares of Pulmonx in a research note on Monday, March 10th. They set an “equal weight” rating on the stock. Citigroup started coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a “buy” rating on the stock. D. Boral Capital started coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a “buy” rating and a $17.00 price target on the stock. Jefferies Financial Group started coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company decreased their price target on shares of Pulmonx from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.36.

Insider Buying and Selling at Pulmonx

In other Pulmonx news, Director Glendon E. French III sold 55,453 shares of Pulmonx stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.28, for a total transaction of $459,150.84. Following the transaction, the director now directly owns 1,011,974 shares of the company’s stock, valued at $8,379,144.72. The trade was a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Geoffrey Beran Rose sold 5,779 shares of Pulmonx stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $7.13, for a total transaction of $41,204.27. Following the transaction, the insider now directly owns 285,278 shares in the company, valued at approximately $2,034,032.14. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,986 shares of company stock valued at $986,673 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.

Pulmonx Price Performance

LUNG opened at $7.97 on Wednesday. The company’s 50 day simple moving average is $7.07 and its 200 day simple moving average is $6.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70. Pulmonx Co. has a 1 year low of $5.46 and a 1 year high of $10.01. The stock has a market capitalization of $317.17 million, a PE ratio of -5.53 and a beta of 0.50.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.12. The firm had revenue of $23.77 million for the quarter, compared to analysts’ expectations of $22.29 million. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. As a group, sell-side analysts expect that Pulmonx Co. will post -1.55 EPS for the current year.

Pulmonx 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.