Zacks Investment Research Downgrades Entellus Medical Inc. (ENTL) to Hold
Entellus Medical Inc. (NASDAQ:ENTL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Entellus Medical, Inc. is a medical technology company. It is engaged in the designing, development and commercialization of products for the treatment of chronic sinusitis. The company operates primarily in the United States and Canada. Entellus Medical, Inc. is headquartered in Plymouth, Minnesota. “
Several other equities analysts have also commented on ENTL. BTIG Research started coverage on shares of Entellus Medical in a report on Tuesday, June 14th. They issued a “buy” rating and a $22.00 price objective on the stock. Canaccord Genuity restated a “buy” rating and issued a $23.00 price objective on shares of Entellus Medical in a report on Wednesday, June 29th. Finally, Bank of America Corp. restated a “buy” rating on shares of Entellus Medical in a report on Monday, July 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Entellus Medical has an average rating of “Buy” and a consensus target price of $22.75.
Shares of Entellus Medical (NASDAQ:ENTL) opened at 21.73 on Wednesday. The firm’s market capitalization is $409.59 million. The firm has a 50-day moving average of $19.81 and a 200 day moving average of $18.04. Entellus Medical has a 52 week low of $13.72 and a 52 week high of $22.57.
Entellus Medical (NASDAQ:ENTL) last issued its quarterly earnings data on Wednesday, August 3rd. The medical technology company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.08. Entellus Medical had a negative net margin of 33.54% and a negative return on equity of 41.83%. The firm had revenue of $18.73 million for the quarter, compared to analyst estimates of $18.48 million. During the same period in the prior year, the business posted ($0.15) EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities research analysts expect that Entellus Medical will post ($1.23) EPS for the current fiscal year.
In related news, VP Timothy B. Petrick sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $18.15, for a total transaction of $54,450.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian E. Farley sold 17,006 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $19.33, for a total transaction of $328,725.98. Following the sale, the director now directly owns 560,265 shares in the company, valued at $10,829,922.45. The disclosure for this sale can be found here. Corporate insiders own 9.10% of the company’s stock.
A number of large investors have recently made changes to their positions in ENTL. Murphy Michael R increased its stake in shares of Entellus Medical by 30.1% in the second quarter. Murphy Michael R now owns 627,441 shares of the medical technology company’s stock valued at $11,463,000 after buying an additional 145,304 shares during the last quarter. Cortina Asset Management LLC increased its stake in shares of Entellus Medical by 39.2% in the second quarter. Cortina Asset Management LLC now owns 421,897 shares of the medical technology company’s stock worth $7,708,000 after buying an additional 118,745 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Entellus Medical by 5.1% in the second quarter. Vanguard Group Inc. now owns 215,395 shares of the medical technology company’s stock worth $3,936,000 after buying an additional 10,532 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Entellus Medical by 40.1% in the second quarter. BlackRock Fund Advisors now owns 195,518 shares of the medical technology company’s stock worth $3,572,000 after buying an additional 55,996 shares in the last quarter. Finally, Ghost Tree Capital LLC increased its stake in shares of Entellus Medical by 9.1% in the second quarter. Ghost Tree Capital LLC now owns 120,000 shares of the medical technology company’s stock worth $2,192,000 after buying an additional 10,000 shares in the last quarter. 66.22% of the stock is currently owned by hedge funds and other institutional investors.
About Entellus Medical
Entellus Medical, Inc is a medical technology company. The Company is focused on the design, development and commercialization of products for the minimally invasive treatment of patients who are suffering from chronic sinusitis. The Company’s XprESS family of products is used by ear, nose and throat (ENT) physicians to treat patients with symptomatic inflammation of the nasal sinuses by opening narrowed or obstructed sinus drainage pathways using balloon sinus dilation.
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