Prudential Financial Inc. acquired a new position in Intersect ENT, Inc. (NASDAQ:XENT) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 8,200 shares of the medical equipment provider’s stock, valued at approximately $229,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc raised its stake in shares of Intersect ENT by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 6,939 shares of the medical equipment provider’s stock worth $193,000 after buying an additional 255 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Intersect ENT by 109.1% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 11,500 shares of the medical equipment provider’s stock worth $196,000 after buying an additional 6,000 shares in the last quarter. American International Group Inc. raised its stake in shares of Intersect ENT by 7.1% in the 1st quarter. American International Group Inc. now owns 15,704 shares of the medical equipment provider’s stock worth $269,000 after buying an additional 1,037 shares in the last quarter. Personal Capital Advisors Corp bought a new stake in shares of Intersect ENT in the 2nd quarter worth $273,000. Finally, State of Wisconsin Investment Board bought a new stake in shares of Intersect ENT in the 2nd quarter worth $531,000. 83.12% of the stock is currently owned by institutional investors.
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A number of equities research analysts have recently issued reports on XENT shares. Bank of America Corporation boosted their target price on Intersect ENT from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, September 11th. Zacks Investment Research lowered Intersect ENT from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Canaccord Genuity boosted their target price on Intersect ENT from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, September 13th. BidaskClub lowered Intersect ENT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $35.00 target price on shares of Intersect ENT in a research report on Tuesday, August 22nd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $27.70.
In related news, COO Richard E. Kaufman sold 12,500 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $28.25, for a total transaction of $353,125.00. Following the sale, the chief operating officer now owns 169,821 shares of the company’s stock, valued at approximately $4,797,443.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Richard E. Kaufman sold 13,639 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $28.97, for a total value of $395,121.83. Following the sale, the chief operating officer now directly owns 133,757 shares in the company, valued at approximately $3,874,940.29. The disclosure for this sale can be found here. Insiders have sold a total of 147,063 shares of company stock worth $4,381,229 in the last ninety days. 13.70% of the stock is currently owned by company insiders.
Intersect ENT, Inc. (NASDAQ:XENT) opened at 28.40 on Friday. The firm’s market capitalization is $828.97 million. Intersect ENT, Inc. has a 52-week low of $7.65 and a 52-week high of $33.25. The company’s 50-day moving average price is $30.18 and its 200 day moving average price is $26.18.
Intersect ENT (NASDAQ:XENT) last issued its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.11. The business had revenue of $24.00 million for the quarter, compared to the consensus estimate of $22.62 million. Intersect ENT had a negative return on equity of 17.60% and a negative net margin of 22.94%. The firm’s revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) EPS. Equities analysts predict that Intersect ENT, Inc. will post ($0.61) earnings per share for the current fiscal year.
Intersect ENT Profile
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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