Intersect ENT Sees Unusually High Options Volume (XENT)

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Intersect ENT Inc (NASDAQ:XENT) saw unusually large options trading on Monday. Stock investors purchased 2,291 put options on the company. This represents an increase of 2,191% compared to the average daily volume of 100 put options.

In other news, CFO Jeryl L. Hilleman sold 12,833 shares of the firm’s stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $27.99, for a total transaction of $359,195.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lisa D. Earnhardt sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $26.51, for a total value of $530,200.00. The disclosure for this sale can be found here. Insiders have sold 85,666 shares of company stock valued at $2,435,926 over the last 90 days. 5.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in XENT. Meeder Asset Management Inc. boosted its position in shares of Intersect ENT by 565.6% during the second quarter. Meeder Asset Management Inc. now owns 3,987 shares of the medical equipment provider’s stock valued at $149,000 after buying an additional 3,388 shares during the last quarter. UBS Group AG boosted its position in shares of 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 buying an additional 2,096 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Intersect ENT during the second quarter valued at approximately $242,000. Xact Kapitalforvaltning AB purchased a new position in shares of Intersect ENT during the second quarter valued at approximately $247,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Intersect ENT by 2,091.8% during the second quarter. PNC Financial Services Group Inc. now owns 6,707 shares of the medical equipment provider’s stock valued at $252,000 after buying an additional 6,401 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Shares of Intersect ENT stock opened at $27.19 on Tuesday. Intersect ENT has a 52 week low of $25.15 and a 52 week high of $42.95. The company has a market capitalization of $880.44 million, a price-to-earnings ratio of -48.55 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 Zacks’ consensus estimate of ($0.27) by $0.02. Intersect ENT had a negative return on equity of 15.01% and a negative net margin of 17.22%. The firm had revenue of $24.70 million during the quarter, compared to analysts’ expectations of $24.09 million. During the same quarter last year, the firm posted ($0.15) earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts expect that Intersect ENT will post -0.86 EPS for the current fiscal year.

A number of equities research analysts have weighed in on XENT shares. BidaskClub downgraded Intersect ENT from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Piper Jaffray Companies lowered their target price on Intersect ENT from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, August 1st. Canaccord Genuity reiterated a “buy” rating on shares of Intersect ENT in a report on Wednesday, August 1st. ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, BTIG Research reiterated a “hold” rating on shares of Intersect ENT in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average 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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