Parkman Healthcare Partners LLC Makes New Investment in Pulmonx Co. (NASDAQ:LUNG)

Parkman Healthcare Partners LLC acquired a new position in shares of Pulmonx Co. (NASDAQ:LUNG) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 206,444 shares of the company’s stock, valued at approximately $1,711,000. Parkman Healthcare Partners LLC owned 0.52% of Pulmonx as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Pulmonx by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 2,077,859 shares of the company’s stock valued at $19,262,000 after purchasing an additional 11,417 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Pulmonx by 4.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,720 shares of the company’s stock valued at $332,000 after acquiring an additional 1,633 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Pulmonx by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 157,902 shares of the company’s stock worth $1,001,000 after purchasing an additional 17,740 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Pulmonx by 7.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,059,018 shares of the company’s stock worth $6,714,000 after purchasing an additional 69,595 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Pulmonx by 1.0% in the second quarter. Victory Capital Management Inc. now owns 834,301 shares of the company’s stock valued at $5,289,000 after purchasing an additional 8,004 shares during the period. 91.04% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pulmonx news, Director Glendon E. French III sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $6.52, for a total value of $130,400.00. Following the completion of the transaction, the director now directly owns 1,091,974 shares of the company’s stock, valued at $7,119,670.48. This trade represents a 1.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 60,000 shares of company stock worth $424,800 in the last quarter. 5.70% of the stock is owned by company insiders.

Pulmonx Stock Performance

NASDAQ:LUNG opened at $6.61 on Wednesday. The company has a fifty day moving average of $6.80 and a 200-day moving average of $6.99. The firm has a market capitalization of $261.03 million, a P/E ratio of -4.50 and a beta of 0.69. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40. Pulmonx Co. has a twelve month low of $5.46 and a twelve month high of $14.84.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. Pulmonx had a negative net margin of 72.01% and a negative return on equity of 53.88%. The firm had revenue of $20.39 million during the quarter, compared to the consensus estimate of $20.39 million. During the same period in the prior year, the firm earned ($0.39) EPS. As a group, sell-side analysts anticipate that Pulmonx Co. will post -1.53 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lowered their price objective on Pulmonx from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Pulmonx has an average rating of “Moderate Buy” and an average price target of $14.67.

About Pulmonx

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.