Richard E. Kaufman Sells 12,500 Shares of Intersect ENT, Inc. (NASDAQ:XENT) Stock
Intersect ENT, Inc. (NASDAQ:XENT) COO Richard E. Kaufman sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $28.25, for a total transaction of $353,125.00. Following the completion of the sale, the chief operating officer now owns 169,821 shares of the company’s stock, valued at approximately $4,797,443.25. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Intersect ENT, Inc. (NASDAQ:XENT) traded down 0.88% during midday trading on Wednesday, hitting $28.20. 301,498 shares of the stock traded hands. The company’s market capitalization is $811.37 million. Intersect ENT, Inc. has a 52 week low of $7.65 and a 52 week high of $29.55. The firm’s 50-day moving average is $27.31 and its 200 day moving average is $19.57.
Intersect ENT (NASDAQ:XENT) last posted its earnings results on Tuesday, May 2nd. The medical equipment provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. The firm had revenue of $20.47 million during the quarter, compared to analysts’ expectations of $19.39 million. Intersect ENT had a negative net margin of 28.71% and a negative return on equity of 20.49%. Equities analysts forecast that Intersect ENT, Inc. will post ($0.74) earnings per share for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC purchased a new position in Intersect ENT during the first quarter valued at about $148,000. Cornerstone Capital Management Holdings LLC. increased its position in Intersect ENT by 109.1% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 11,500 shares of the medical equipment provider’s stock valued at $196,000 after buying an additional 6,000 shares in the last quarter. American International Group Inc. increased its position in Intersect ENT by 7.1% in the first quarter. American International Group Inc. now owns 15,704 shares of the medical equipment provider’s stock valued at $269,000 after buying an additional 1,037 shares in the last quarter. Personal Capital Advisors Corp purchased a new position in Intersect ENT during the second quarter valued at about $273,000. Finally, Russell Investments Group Ltd. purchased a new position in Intersect ENT during the fourth quarter valued at about $377,000. 76.12% of the stock is owned by institutional investors.
XENT has been the subject of several research reports. Canaccord Genuity restated a “buy” rating on shares of Intersect ENT in a research report on Wednesday, May 3rd. BidaskClub cut shares of Intersect ENT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Intersect ENT from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded shares of Intersect ENT from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Northland Securities cut shares of Intersect ENT from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 31st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Intersect ENT currently has a consensus rating of “Buy” and an average target price of $18.60.
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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