Bank of Montreal Can lifted its holdings in Intersect ENT Inc (NASDAQ:XENT) by 44.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,841 shares of the medical equipment provider’s stock after purchasing an additional 19,860 shares during the period. Bank of Montreal Can owned about 0.21% of Intersect ENT worth $1,865,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in XENT. Principal Financial Group Inc. grew its holdings in Intersect ENT by 10.1% during the first quarter. Principal Financial Group Inc. now owns 16,564 shares of the medical equipment provider’s stock valued at $651,000 after purchasing an additional 1,524 shares during the period. UBS Group AG lifted its position in shares of Intersect ENT by 81.1% in the first quarter. UBS Group AG now owns 4,679 shares of the medical equipment provider’s stock valued at $184,000 after acquiring an additional 2,096 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Intersect ENT by 298.8% in the first quarter. Royal Bank of Canada now owns 115,103 shares of the medical equipment provider’s stock valued at $4,522,000 after acquiring an additional 86,239 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Intersect ENT in the second quarter valued at about $247,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Intersect ENT in the second quarter valued at about $242,000. 90.03% of the stock is currently owned by institutional investors.
Shares of Intersect ENT stock opened at $31.16 on Friday. Intersect ENT Inc has a 52 week low of $25.15 and a 52 week high of $42.95. The stock has a market capitalization of $997.32 million, a PE ratio of -55.64 and a beta of 0.57.
Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings data on Monday, November 5th. The medical equipment provider reported ($0.25) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.02. The business had revenue of $24.70 million for the quarter, compared to the consensus estimate of $24.09 million. Intersect ENT had a negative return on equity of 17.62% and a negative net margin of 20.00%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.15) earnings per share. As a group, sell-side analysts predict that Intersect ENT Inc will post -0.73 EPS for the current fiscal year.
Several brokerages have recently commented on XENT. Zacks Investment Research upgraded Intersect ENT from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Wednesday. Northland Securities restated a “hold” rating and issued a $28.00 price objective on shares of Intersect ENT in a research report on Monday, November 5th. BidaskClub downgraded Intersect ENT from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. ValuEngine upgraded Intersect ENT from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Finally, BTIG Research restated a “hold” rating on shares of Intersect ENT in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $37.17.
In related news, insider Lisa D. Earnhardt sold 20,000 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $29.63, for a total value of $592,600.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jeryl L. Hilleman sold 12,833 shares of the business’s stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $27.99, for a total value of $359,195.67. The disclosure for this sale can be found here. Insiders sold 85,666 shares of company stock worth $2,435,926 over the last quarter. 5.90% of the stock is owned by company insiders.
Intersect ENT Company Profile
Intersect ENT, Inc, a drug delivery company, researches and develops products for the treatment of patients with ear, nose and throat conditions in the United States. It offers PROPEL and PROPEL mini drug releasing implants for patients undergoing sinus surgery to treat chronic sinusitis; and PROPEL Contour, a steroid releasing implant to frontal and maxillary sinus ostia, or openings, of the dependent sinuses.
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