Intersect ENT Sees Unusually Large Options Volume (NASDAQ:XENT)

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Intersect ENT Inc (NASDAQ:XENT) was the target of some unusual options trading on Tuesday. Traders bought 1,568 call options on the company. This is an increase of 1,662% compared to the average volume of 89 call options.

Shares of XENT stock opened at $18.11 on Thursday. Intersect ENT has a 12-month low of $15.01 and a 12-month high of $35.87. The stock’s 50-day moving average price is $16.82 and its 200-day moving average price is $24.41. The stock has a market capitalization of $576.58 million, a price-to-earnings ratio of -23.83 and a beta of 0.73.

Intersect ENT (NASDAQ:XENT) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.02). Intersect ENT had a negative return on equity of 29.16% and a negative net margin of 31.43%. The firm had revenue of $26.66 million during the quarter, compared to the consensus estimate of $27.13 million. During the same period last year, the firm posted ($0.14) earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, research analysts forecast that Intersect ENT will post -1.44 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XENT. Point72 Asset Management L.P. grew its position in Intersect ENT by 18,587.5% in the second quarter. Point72 Asset Management L.P. now owns 2,459,842 shares of the medical equipment provider’s stock worth $55,986,000 after acquiring an additional 2,446,679 shares in the last quarter. FMR LLC boosted its position in shares of Intersect ENT by 1,863.8% during the first quarter. FMR LLC now owns 632,451 shares of the medical equipment provider’s stock valued at $20,334,000 after buying an additional 600,246 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of Intersect ENT during the second quarter valued at approximately $12,782,000. Westfield Capital Management Co. LP boosted its position in shares of Intersect ENT by 86.0% during the second quarter. Westfield Capital Management Co. LP now owns 1,214,025 shares of the medical equipment provider’s stock valued at $27,631,000 after buying an additional 561,244 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Intersect ENT by 24.5% during the second quarter. Invesco Ltd. now owns 2,187,559 shares of the medical equipment provider’s stock valued at $49,789,000 after buying an additional 430,279 shares during the period. Institutional investors own 96.22% of the company’s stock.

A number of equities research analysts have commented on XENT shares. Berenberg Bank cut Intersect ENT from a “buy” rating to a “hold” rating and decreased their price target for the company from $35.00 to $27.00 in a report on Friday, June 21st. ValuEngine raised Intersect ENT from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Northland Securities raised Intersect ENT from an “under perform” rating to a “market perform” rating and set a $20.00 price target on the stock in a report on Wednesday, July 10th. Guggenheim cut Intersect ENT from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Finally, BidaskClub raised Intersect ENT from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Intersect ENT currently has an average rating of “Hold” and a consensus target price of $27.11.

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. The company 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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