Alps Advisors Inc. boosted its position in shares of Intersect ENT Inc (NASDAQ:XENT) by 23.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 53,893 shares of the medical equipment provider’s stock after purchasing an additional 10,160 shares during the quarter. Alps Advisors Inc. owned about 0.18% of Intersect ENT worth $1,549,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its stake in shares of Intersect ENT by 565.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,987 shares of the medical equipment provider’s stock worth $149,000 after purchasing an additional 3,388 shares during the period. UBS Group AG raised its stake in Intersect ENT by 81.1% during the 1st quarter. UBS Group AG now owns 4,679 shares of the medical equipment provider’s stock worth $184,000 after acquiring an additional 2,096 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Intersect ENT during the 2nd quarter worth approximately $242,000. Xact Kapitalforvaltning AB bought a new stake in Intersect ENT during the 2nd quarter worth approximately $247,000. Finally, PNC Financial Services Group Inc. raised its stake in Intersect ENT by 2,091.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,707 shares of the medical equipment provider’s stock worth $252,000 after acquiring an additional 6,401 shares during the period. 79.59% of the stock is currently owned by institutional investors.
In other Intersect ENT news, insider Lisa D. Earnhardt sold 20,000 shares of Intersect ENT stock in a transaction on Monday, September 17th. The shares were sold at an average price of $29.14, for a total transaction of $582,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeryl L. Hilleman sold 12,833 shares of Intersect ENT stock in a transaction on Monday, October 8th. The stock was sold at an average price of $27.99, for a total transaction of $359,195.67. The disclosure for this sale can be found here. Insiders have sold 85,666 shares of company stock valued at $2,505,926 over the last ninety days. 5.90% of the stock is owned by insiders.
A number of equities research analysts have commented on XENT shares. BidaskClub cut shares of Intersect ENT from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Northland Securities reiterated a “hold” rating and set a $28.00 price objective on shares of Intersect ENT in a research report on Wednesday, October 17th. ValuEngine upgraded shares of Intersect ENT from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. BTIG Research reiterated a “hold” rating on shares of Intersect ENT in a research report on Thursday, August 2nd. Finally, Piper Jaffray Companies reduced their price objective on shares of Intersect ENT from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $37.17.
Shares of XENT stock traded up $0.47 on Thursday, reaching $29.15. The company’s stock had a trading volume of 112,206 shares, compared to its average volume of 436,587. Intersect ENT Inc has a 1 year low of $25.15 and a 1 year high of $42.95. The firm has a market cap of $876.33 million, a PE ratio of -52.05 and a beta of 0.57.
Intersect ENT (NASDAQ:XENT) last posted its earnings results on Monday, November 5th. The medical equipment provider reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. The firm had revenue of $24.70 million during the quarter, compared to analyst estimates of $24.09 million. Intersect ENT had a negative net margin of 20.00% and a negative return on equity of 17.62%. Intersect ENT’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.15) earnings per share. As a group, research analysts anticipate that Intersect ENT Inc will post -0.73 EPS for the current fiscal year.
Intersect ENT Company Profile
Intersect ENT, Inc, a drug delivery company, researches and develops products for the treatment of patients with ear, nose and throat conditions in the United States. It offers PROPEL and PROPEL mini drug releasing implants for patients undergoing sinus surgery to treat chronic sinusitis; and PROPEL Contour, a steroid releasing implant to frontal and maxillary sinus ostia, or openings, of the dependent sinuses.
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