Entellus Medical Inc. (ENTL) Trading Down 3.1% Following Insider Selling
Entellus Medical Inc. (NASDAQ:ENTL) shares traded down 3.1% during mid-day trading on Friday following insider selling activity. The stock traded as low as $21.00 and last traded at $21.05, with a volume of 63,569 shares trading hands. The stock had previously closed at $21.73.
Specifically, VP James D. Surek sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $18.71, for a total value of $187,100.00. Following the completion of the sale, the vice president now directly owns 95,031 shares of the company’s stock, valued at approximately $1,778,030.01. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian E. Farley sold 30,000 shares of the company’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $22.26, for a total value of $667,800.00. Following the completion of the sale, the director now directly owns 514,581 shares of the company’s stock, valued at $11,454,573.06. The disclosure for this sale can be found here. Company insiders own 9.10% of the company’s stock.
A number of brokerages have recently commented on ENTL. Deutsche Bank AG began coverage on Entellus Medical in a research note on Thursday. They issued a “buy” rating and a $26.00 price target for the company. Zacks Investment Research cut Entellus Medical from a “buy” rating to a “hold” rating in a research note on Wednesday. BTIG Research began coverage on Entellus Medical in a research note on Tuesday, June 14th. They issued a “buy” rating and a $22.00 price target for the company. Bank of America Corp. reaffirmed a “buy” rating on shares of Entellus Medical in a research note on Monday, July 18th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $23.00 price target on shares of Entellus Medical in a research note on Friday, August 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $22.75.
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The company’s market capitalization is $396.77 million. The company’s 50 day moving average price is $19.81 and its 200 day moving average price is $18.04.
Entellus Medical (NASDAQ:ENTL) last released its earnings results on Wednesday, August 3rd. The medical technology company reported ($0.27) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.08. Entellus Medical had a negative return on equity of 41.83% and a negative net margin of 33.54%. The firm had revenue of $18.73 million for the quarter, compared to analysts’ expectations of $18.48 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. Equities analysts predict that Entellus Medical Inc. will post ($1.23) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spark Investment Management LLC purchased a new stake in shares of Entellus Medical during the first quarter worth approximately $440,000. State Street Corp raised its stake in shares of Entellus Medical by 7.9% in the first quarter. State Street Corp now owns 50,773 shares of the medical technology company’s stock worth $923,000 after buying an additional 3,714 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Entellus Medical by 8.2% in the first quarter. Geode Capital Management LLC now owns 41,648 shares of the medical technology company’s stock worth $757,000 after buying an additional 3,160 shares during the last quarter. Murphy Michael R raised its stake in shares of Entellus Medical by 810.2% in the first quarter. Murphy Michael R now owns 482,137 shares of the medical technology company’s stock worth $8,770,000 after buying an additional 429,166 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Entellus Medical during the first quarter worth approximately $207,000. Hedge funds and other institutional investors own 66.22% of the company’s stock.
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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