Short Interest in Intersect ENT Inc (XENT) Rises By 53.6%
Intersect ENT Inc (NASDAQ:XENT) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,455,562 shares, an increase of 53.6% from the December 14th total of 947,515 shares. Based on an average daily trading volume, of 361,760 shares, the short-interest ratio is currently 4.0 days. Currently, 4.9% of the shares of the company are sold short.
NASDAQ XENT opened at $27.99 on Wednesday. The stock has a market capitalization of $806.66 million, a price-to-earnings ratio of -49.98 and a beta of 0.64. Intersect ENT has a 12-month low of $25.09 and a 12-month high of $42.95.
Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings data on Monday, November 5th. The medical equipment provider reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.02. The firm had revenue of $24.70 million during the quarter, compared to the consensus estimate of $24.09 million. Intersect ENT had a negative net margin of 20.00% and a negative return on equity of 17.62%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.15) EPS. On average, equities research analysts expect that Intersect ENT will post -0.73 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc boosted its holdings in Intersect ENT by 3.8% in the 3rd quarter. Vanguard Group Inc now owns 1,377,070 shares of the medical equipment provider’s stock valued at $39,591,000 after purchasing an additional 50,060 shares during the period. Marshall Wace LLP bought a new stake in Intersect ENT in the 3rd quarter valued at about $2,280,000. Vanguard Group Inc. boosted its holdings in Intersect ENT by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,377,070 shares of the medical equipment provider’s stock valued at $39,591,000 after purchasing an additional 50,060 shares during the period. Morgan Stanley boosted its holdings in Intersect ENT by 126.1% in the 3rd quarter. Morgan Stanley now owns 234,650 shares of the medical equipment provider’s stock valued at $6,747,000 after purchasing an additional 130,847 shares during the period. Finally, Lombard Odier Asset Management USA Corp bought a new stake in Intersect ENT in the 3rd quarter valued at about $6,900,000. 91.66% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on XENT. Zacks Investment Research lowered shares of Intersect ENT from a “buy” rating to a “hold” rating in a research note on Sunday, January 6th. TheStreet lowered shares of Intersect ENT from a “c-” rating to a “d+” rating in a research note on Thursday, January 3rd. BidaskClub lowered shares of Intersect ENT from a “hold” rating to a “sell” rating in a research note on Friday, December 28th. Northland Securities reiterated a “hold” rating and issued a $28.00 price target on shares of Intersect ENT in a research note on Monday, November 5th. Finally, ValuEngine raised shares of Intersect ENT from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Intersect ENT has a consensus rating of “Buy” and a consensus price target of $36.75.
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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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