Sei Investments Co. increased its stake in shares of Intersect ENT, Inc. (NASDAQ:XENT) by 250.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,916 shares of the medical equipment provider’s stock after acquiring an additional 38,516 shares during the quarter. Sei Investments Co. owned approximately 0.16% of Intersect ENT worth $821,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC lifted its stake in shares of Intersect ENT by 5.6% in the second quarter. FMR LLC now owns 1,670,000 shares of the medical equipment provider’s stock valued at $22,612,000 after buying an additional 89,037 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Intersect ENT by 0.9% in the second quarter. Vanguard Group Inc. now owns 1,649,690 shares of the medical equipment provider’s stock valued at $22,337,000 after buying an additional 15,235 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Intersect ENT by 58.4% in the third quarter. Jennison Associates LLC now owns 1,007,769 shares of the medical equipment provider’s stock valued at $16,437,000 after buying an additional 371,624 shares in the last quarter. Great Point Partners LLC bought a new position in shares of Intersect ENT in the third quarter valued at $12,199,000. Finally, Bellevue Group AG lifted its stake in shares of Intersect ENT by 3.3% in the second quarter. Bellevue Group AG now owns 563,090 shares of the medical equipment provider’s stock valued at $7,624,000 after buying an additional 18,068 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on XENT shares. BTIG Research raised shares of Intersect ENT from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Thursday, November 19th. BidaskClub lowered shares of Intersect ENT from a “hold” rating to a “sell” rating in a research report on Friday, October 23rd. ValuEngine lowered shares of Intersect ENT from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 3rd. SVB Leerink raised their price target on shares of Intersect ENT from $18.00 to $22.00 and gave the company a “market perform” rating in a research report on Thursday, December 3rd. Finally, JPMorgan Chase & Co. downgraded shares of Intersect ENT from an “overweight” rating to a “neutral” rating and set a $19.00 price objective for the company. in a report on Thursday, October 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Intersect ENT presently has an average rating of “Hold” and a consensus target price of $21.14.
Intersect ENT (NASDAQ:XENT) last posted its earnings results on Thursday, November 5th. The medical equipment provider reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.10. The firm had revenue of $22.72 million during the quarter, compared to the consensus estimate of $21.78 million. Intersect ENT had a negative net margin of 71.96% and a negative return on equity of 55.81%. The company’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.41) earnings per share. On average, sell-side analysts expect that Intersect ENT, Inc. will post -1.88 earnings per share 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. The company 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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