A.R.T. Advisors LLC Reduces Position in Intersect ENT Inc (XENT)

A.R.T. Advisors LLC lowered its position in Intersect ENT Inc (NASDAQ:XENT) by 52.9% during the first quarter, Holdings Channel reports. The institutional investor owned 20,242 shares of the medical equipment provider’s stock after selling 22,700 shares during the period. A.R.T. Advisors LLC’s holdings in Intersect ENT were worth $795,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Intersect ENT during the first quarter valued at approximately $132,000. UBS Group AG grew its holdings in Intersect ENT by 81.1% during the first quarter. UBS Group AG now owns 4,679 shares of the medical equipment provider’s stock valued at $184,000 after purchasing an additional 2,096 shares during the last quarter. Aperio Group LLC acquired a new position in Intersect ENT during the first quarter valued at approximately $213,000. Elkfork Partners LLC acquired a new position in Intersect ENT during the fourth quarter valued at approximately $237,000. Finally, AXA acquired a new position in Intersect ENT during the fourth quarter valued at approximately $252,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Several equities analysts have commented on XENT shares. BidaskClub upgraded Intersect ENT from a “hold” rating to a “buy” rating in a report on Tuesday, April 17th. Zacks Investment Research reiterated a “hold” rating on shares of Intersect ENT in a report on Saturday, April 7th. Canaccord Genuity reiterated a “buy” rating on shares of Intersect ENT in a report on Monday, May 7th. Northland Securities reiterated a “hold” rating and set a $32.00 price target on shares of Intersect ENT in a report on Wednesday, May 2nd. Finally, Berenberg Bank started coverage on Intersect ENT in a report on Friday, April 20th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $38.50.

In related news, CFO Jeryl L. Hilleman sold 12,833 shares of the firm’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $37.66, for a total value of $483,290.78. Following the completion of the transaction, the chief financial officer now directly owns 36,265 shares of the company’s stock, valued at $1,365,739.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lisa D. Earnhardt sold 20,000 shares of the firm’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $36.79, for a total value of $735,800.00. Following the completion of the transaction, the insider now directly owns 489,683 shares of the company’s stock, valued at $18,015,437.57. The disclosure for this sale can be found here. Insiders sold 73,499 shares of company stock valued at $2,860,627 over the last three months. 5.90% of the stock is owned by company insiders.

XENT opened at $36.75 on Thursday. Intersect ENT Inc has a 1-year low of $26.77 and a 1-year high of $42.95. The company has a market capitalization of $1.11 billion, a PE ratio of -65.63 and a beta of 0.76.

Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings data on Tuesday, May 1st. The medical equipment provider reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.02. Intersect ENT had a negative return on equity of 13.67% and a negative net margin of 15.73%. The company had revenue of $24.70 million during the quarter, compared to analysts’ expectations of $23.66 million. During the same period in the prior year, the business earned ($0.23) earnings per share. Intersect ENT’s revenue for the quarter was up 20.5% compared to the same quarter last year. sell-side analysts anticipate that Intersect ENT Inc will post -0.64 EPS for the current fiscal year.

About Intersect ENT

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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Institutional Ownership by Quarter for Intersect ENT (NASDAQ:XENT)

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