Mackenzie Financial Corp acquired a new stake in Intersect ENT Inc (NASDAQ:XENT) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 42,160 shares of the medical equipment provider’s stock, valued at approximately $1,313,000. Mackenzie Financial Corp owned approximately 0.14% of Intersect ENT at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Great West Life Assurance Co. Can acquired a new position in shares of Intersect ENT during the 3rd quarter worth about $116,000. Legal & General Group Plc increased its stake in shares of Intersect ENT by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 6,939 shares of the medical equipment provider’s stock worth $193,000 after purchasing an additional 255 shares during the last quarter. Moors & Cabot Inc. acquired a new position in shares of Intersect ENT during the 2nd quarter worth about $205,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Intersect ENT during the 3rd quarter worth about $228,000. Finally, Prudential Financial Inc. acquired a new position in shares of Intersect ENT during the 2nd quarter worth about $229,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intersect ENT Inc (NASDAQ:XENT) traded up $2.40 during trading on Tuesday, hitting $34.80. 835,979 shares of the stock were exchanged, compared to its average volume of 526,150. Intersect ENT Inc has a 12 month low of $11.55 and a 12 month high of $35.10. The company has a market cap of $1,030.00, a P/E ratio of -56.13 and a beta of 0.67.
Intersect ENT (NASDAQ:XENT) last issued its quarterly earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.05. The company had revenue of $22.31 million during the quarter, compared to the consensus estimate of $21.53 million. Intersect ENT had a negative net margin of 19.81% and a negative return on equity of 15.96%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.22) EPS. equities research analysts forecast that Intersect ENT Inc will post -0.63 EPS for the current year.
In related news, insider Lisa D. Earnhardt sold 20,000 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $28.37, for a total value of $567,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeryl L. Hilleman sold 12,833 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $29.96, for a total transaction of $384,476.68. The disclosure for this sale can be found here. In the last three months, insiders sold 126,884 shares of company stock valued at $3,838,019. 13.70% of the stock is owned by insiders.
XENT has been the topic of several recent analyst reports. Canaccord Genuity boosted their price objective on shares of Intersect ENT from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, September 13th. Northland Securities reiterated a “hold” rating and issued a $25.00 price target on shares of Intersect ENT in a research note on Friday, November 3rd. Bank of America upped their price target on shares of Intersect ENT from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, September 11th. JPMorgan Chase & Co. upgraded shares of Intersect ENT from a “neutral” rating to an “overweight” rating in a research note on Tuesday. Finally, BidaskClub lowered shares of Intersect ENT from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Intersect ENT presently has a consensus rating of “Buy” and a consensus price target of $33.38.
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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