Dynamic Technology Lab Private Ltd Invests $179,000 in Intersect ENT Inc. (XENT)
Dynamic Technology Lab Private Ltd bought a new stake in shares of Intersect ENT Inc. (NASDAQ:XENT) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,783 shares of the company’s stock, valued at approximately $179,000.
Other large investors have also recently added to or reduced their stakes in the company. Bellevue Group AG purchased a new stake in Intersect ENT during the first quarter valued at approximately $3,976,000. Royce & Associates LP boosted its stake in Intersect ENT by 52.3% in the second quarter. Royce & Associates LP now owns 533,800 shares of the company’s stock valued at $6,902,000 after buying an additional 183,400 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Intersect ENT by 56.8% in the second quarter. UBS Asset Management Americas Inc. now owns 422,368 shares of the company’s stock valued at $5,461,000 after buying an additional 153,028 shares during the last quarter. Granahan Investment Management Inc. MA boosted its stake in Intersect ENT by 28.0% in the first quarter. Granahan Investment Management Inc. MA now owns 549,321 shares of the company’s stock valued at $10,437,000 after buying an additional 120,286 shares during the last quarter. Finally, Granite Point Capital Management L.P. purchased a new stake in Intersect ENT during the second quarter valued at approximately $1,053,000. Hedge funds and other institutional investors own 77.80% of the company’s stock.
Intersect ENT Inc. (NASDAQ:XENT) opened at 16.33 on Friday. Intersect ENT Inc. has a 12-month low of $11.88 and a 12-month high of $23.00. The firm’s market capitalization is $464.65 million. The company’s 50 day moving average price is $15.52 and its 200-day moving average price is $15.49.
Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.05. The business had revenue of $19.30 million for the quarter, compared to analyst estimates of $18.91 million. Intersect ENT had a negative return on equity of 23.31% and a negative net margin of 42.97%. The company’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) earnings per share. On average, equities analysts anticipate that Intersect ENT Inc. will post ($0.96) earnings per share for the current fiscal year.
Several research analysts have weighed in on XENT shares. Zacks Investment Research lowered Intersect ENT from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Wedbush reaffirmed an “outperform” rating and set a $25.00 price target on shares of Intersect ENT in a research report on Wednesday, August 3rd. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $21.00 price target on shares of Intersect ENT in a research report on Friday, August 26th. BTIG Research started coverage on Intersect ENT in a research report on Tuesday, July 12th. They set a “neutral” rating on the stock. Finally, Deutsche Bank AG started coverage on Intersect ENT in a research report on Thursday. They set a “hold” rating and a $17.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $22.00.
In other Intersect ENT news, VP Amy Wolbeck sold 28,664 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $15.83, for a total value of $453,751.12. Following the transaction, the vice president now owns 18,076 shares in the company, valued at $286,143.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP James Stambaugh sold 5,000 shares of the stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $15.33, for a total value of $76,650.00. Following the completion of the transaction, the vice president now owns 29,000 shares in the company, valued at approximately $444,570. The disclosure for this sale can be found here. 13.90% of the stock is owned by company insiders.
Intersect ENT Company Profile
Intersect ENT, Inc is a commercial stage drug-device company. The Company develops drugs for patients with ear, nose and throat (ENT) conditions. It has developed a drug releasing bio-absorbable implant technology that enables targeted and sustained release of therapeutic agents. Its commercial products are the PROPEL and PROPEL mini drug-releasing implants for patients undergoing sinus surgery to treat chronic sinusitis.
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