Zacks Investment Research Lowers 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 research report issued on Tuesday.
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 research analysts also recently issued reports on ENTL. BidaskClub downgraded Entellus Medical from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Canaccord Genuity reiterated a “hold” rating and set a $17.00 price target on shares of Entellus Medical in a report on Tuesday, October 17th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $21.00 price target on shares of Entellus Medical in a report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $21.86.
Entellus Medical (NASDAQ ENTL) traded down 2.53% during midday trading on Tuesday, hitting $16.93. The stock had a trading volume of 128,668 shares. The stock’s market capitalization is $429.53 million. Entellus Medical has a 1-year low of $11.47 and a 1-year high of $20.34. The stock’s 50-day moving average is $18.25 and its 200-day moving average is $18.23.
Entellus Medical (NASDAQ:ENTL) last announced its quarterly earnings results on Thursday, August 3rd. The medical technology company reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.03). Entellus Medical had a negative return on equity of 60.34% and a negative net margin of 41.11%. The company had revenue of $22.10 million for the quarter, compared to the consensus estimate of $21.87 million. During the same quarter last year, the company posted ($0.27) EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities research analysts anticipate that Entellus Medical will post ($1.61) EPS for the current fiscal year.
In other Entellus Medical news, Director Brian E. Farley sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $19.78, for a total value of $791,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Stephen R. Paidosh sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $17.54, for a total value of $438,500.00. The disclosure for this sale can be found here. Insiders have sold 92,150 shares of company stock valued at $1,740,652 in the last quarter. 7.70% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in Entellus Medical by 29.4% in the second quarter. Bank of New York Mellon Corp now owns 40,783 shares of the medical technology company’s stock worth $675,000 after purchasing an additional 9,270 shares during the last quarter. Citadel Advisors LLC purchased a new position in Entellus Medical in the first quarter worth $290,000. Nicholas Company Inc. boosted its position in Entellus Medical by 1,052.3% in the second quarter. Nicholas Company Inc. now owns 247,685 shares of the medical technology company’s stock worth $4,101,000 after purchasing an additional 226,190 shares during the last quarter. Swiss National Bank boosted its position in Entellus Medical by 98.9% in the first quarter. Swiss National Bank now owns 17,700 shares of the medical technology company’s stock worth $244,000 after purchasing an additional 8,800 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in Entellus Medical by 10.5% in the second quarter. William Blair Investment Management LLC now owns 431,187 shares of the medical technology company’s stock worth $7,140,000 after purchasing an additional 40,853 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.
About Entellus Medical
Entellus Medical, Inc is a medical technology company. The Company is focused on delivering patient and physician experiences through products designed for the minimally invasive treatment of chronic and recurrent sinusitis in both adult and pediatric patients. Its three core product lines, XprESS Multi-Sinus Dilation Systems, MiniFESS Surgical Instruments, and FocESS Imaging & Navigation, are designed to enable ear, nose and throat (ENT), physicians to perform a range of procedures in the ENT physician office and to simplify operating room-based treatment.
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