Investors Buy Large Volume of Put Options on Intersect ENT (XENT)

Intersect ENT Inc (NASDAQ:XENT) was the target of some unusual options trading activity on Monday. Investors acquired 2,291 put options on the company. This represents an increase of 2,191% compared to the typical daily volume of 100 put options.

Shares of XENT stock opened at $32.64 on Wednesday. The company has a market cap of $880.44 million, a price-to-earnings ratio of -58.29 and a beta of 0.57. Intersect ENT has a 52 week low of $25.15 and a 52 week high of $42.95.

Intersect ENT (NASDAQ:XENT) last announced its earnings results on Monday, November 5th. The medical equipment provider reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.02. The firm had revenue of $24.70 million for the quarter, compared to the consensus estimate of $24.09 million. Intersect ENT had a negative net margin of 17.22% and a negative return on equity of 15.01%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the company posted ($0.15) EPS. Equities analysts anticipate that Intersect ENT will post -0.86 earnings per share for the current fiscal year.

In related news, insider Lisa D. Earnhardt sold 20,000 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $29.14, for a total value of $582,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jeryl L. Hilleman sold 12,833 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $28.92, for a total transaction of $371,130.36. The disclosure for this sale can be found here. Insiders sold a total of 85,666 shares of company stock worth $2,435,926 over the last quarter. 5.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management & Equity Research Inc. raised its holdings in Intersect ENT by 45.7% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 39,972 shares of the medical equipment provider’s stock worth $1,149,000 after buying an additional 12,530 shares during the period. Russell Investments Group Ltd. raised its holdings in Intersect ENT by 18.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 49,408 shares of the medical equipment provider’s stock worth $1,421,000 after buying an additional 7,589 shares during the period. Alps Advisors Inc. raised its holdings in Intersect ENT by 23.2% during the 3rd quarter. Alps Advisors Inc. now owns 53,893 shares of the medical equipment provider’s stock worth $1,549,000 after buying an additional 10,160 shares during the period. Bank of Montreal Can raised its holdings in Intersect ENT by 44.2% during the 3rd quarter. Bank of Montreal Can now owns 64,841 shares of the medical equipment provider’s stock worth $1,865,000 after buying an additional 19,860 shares during the period. Finally, Northern Trust Corp raised its holdings in Intersect ENT by 10.7% during the 2nd quarter. Northern Trust Corp now owns 392,794 shares of the medical equipment provider’s stock worth $14,710,000 after buying an additional 37,818 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

A number of brokerages recently weighed in on XENT. Northland Securities reiterated a “hold” rating and issued a $28.00 price target on shares of Intersect ENT in a research report on Monday. BidaskClub downgraded shares of Intersect ENT from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. ValuEngine upgraded shares of Intersect ENT from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. BTIG Research reiterated a “hold” rating on shares of Intersect ENT in a research report on Thursday, August 2nd. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Intersect ENT in a research report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Intersect ENT currently has an average rating of “Buy” and a consensus price target of $39.67.

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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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