Intersect ENT, Inc. (XENT) COO Sells $677,683.50 in Stock
Intersect ENT, Inc. (NASDAQ:XENT) COO Richard E. Kaufman sold 22,425 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $30.22, for a total value of $677,683.50. Following the sale, the chief operating officer now owns 149,821 shares of the company’s stock, valued at approximately $4,527,590.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Intersect ENT, Inc. (NASDAQ:XENT) traded up 1.18% during trading on Tuesday, hitting $30.10. The company had a trading volume of 196,370 shares. The firm’s 50 day moving average is $29.20 and its 200-day moving average is $22.29. Intersect ENT, Inc. has a 52-week low of $7.65 and a 52-week high of $31.90. The stock’s market capitalization is $878.59 million.
Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.11. Intersect ENT had a negative net margin of 22.94% and a negative return on equity of 17.60%. The company had revenue of $24 million for the quarter, compared to the consensus estimate of $22.62 million. During the same period last year, the firm posted ($0.21) EPS. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities analysts forecast that Intersect ENT, Inc. will post ($0.61) earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in Intersect ENT by 247.7% in the second quarter. FMR LLC now owns 1,482,909 shares of the medical equipment provider’s stock worth $41,447,000 after buying an additional 1,056,389 shares during the last quarter. Alliancebernstein L.P. increased its position in Intersect ENT by 2,746.9% in the second quarter. Alliancebernstein L.P. now owns 931,505 shares of the medical equipment provider’s stock worth $26,036,000 after buying an additional 898,785 shares during the last quarter. Paulson & CO. Inc. acquired a new position in Intersect ENT during the first quarter worth about $10,978,000. Lord Abbett & CO. LLC acquired a new position in Intersect ENT during the second quarter worth about $9,384,000. Finally, Marshall Wace LLP acquired a new position in Intersect ENT during the first quarter worth about $5,129,000. Institutional investors own 83.12% of the company’s stock.
Several brokerages have recently commented on XENT. William Blair reiterated an “outperform” rating on shares of Intersect ENT in a report on Wednesday, May 10th. Northland Securities reiterated a “hold” rating and set a $25.00 price objective on shares of Intersect ENT in a report on Wednesday, August 2nd. Zacks Investment Research lowered Intersect ENT from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub lowered Intersect ENT from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, TheStreet upgraded Intersect ENT from a “d” rating to a “c-” rating in a report on Tuesday, August 1st. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Intersect ENT currently has an average rating of “Buy” and a consensus price target of $24.88.
About Intersect ENT
Intersect ENT, Inc is a commercial-stage drug-device company. The Company develops drugs for patients with ear, nose and throat (ENT) conditions. The Company has developed a drug releasing bioabsorbable implant technology that enables targeted and sustained release of therapeutic agents. This targeted drug delivery technology is designed to allow ENT physicians to manage patient care.
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