Sei Investments Co. Acquires 61,688 Shares of Intersect ENT, Inc. (NASDAQ:XENT)

Sei Investments Co. increased its position in Intersect ENT, Inc. (NASDAQ:XENT) by 552.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,863 shares of the medical equipment provider’s stock after acquiring an additional 61,688 shares during the quarter. Sei Investments Co.’s holdings in Intersect ENT were worth $1,180,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. First Light Asset Management LLC boosted its position in shares of Intersect ENT by 66.5% in the first quarter. First Light Asset Management LLC now owns 2,036,645 shares of the medical equipment provider’s stock valued at $42,525,000 after acquiring an additional 813,684 shares during the period. Swiss National Bank boosted its position in shares of Intersect ENT by 1.4% in the first quarter. Swiss National Bank now owns 67,300 shares of the medical equipment provider’s stock valued at $1,405,000 after acquiring an additional 900 shares during the period. AQR Capital Management LLC lifted its position in Intersect ENT by 21.2% during the first quarter. AQR Capital Management LLC now owns 38,400 shares of the medical equipment provider’s stock valued at $802,000 after purchasing an additional 6,716 shares during the last quarter. Great Point Partners LLC lifted its position in Intersect ENT by 2.3% during the first quarter. Great Point Partners LLC now owns 1,332,773 shares of the medical equipment provider’s stock valued at $27,828,000 after purchasing an additional 29,902 shares during the last quarter. Finally, Davide Leone & Partners Investment Co Ltd. lifted its position in Intersect ENT by 43.2% during the first quarter. Davide Leone & Partners Investment Co Ltd. now owns 109,240 shares of the medical equipment provider’s stock valued at $2,281,000 after purchasing an additional 32,949 shares during the last quarter. Institutional investors own 87.04% of the company’s stock.

Several brokerages have issued reports on XENT. Guggenheim lowered shares of Intersect ENT from a “buy” rating to a “neutral” rating and set a $28.30 target price for the company. in a research report on Monday, August 9th. Canaccord Genuity lowered shares of Intersect ENT from a “buy” rating to a “hold” rating and dropped their target price for the company from $29.00 to $28.25 in a research report on Friday, August 6th. SVB Leerink lowered shares of Intersect ENT from an “outperform” rating to a “market perform” rating and set a $28.25 target price for the company. in a research report on Wednesday, August 11th. Finally, BTIG Research lowered shares of Intersect ENT from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 10th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, Intersect ENT presently has an average rating of “Hold” and a consensus price target of $25.40.

XENT stock opened at $27.10 on Tuesday. The company has a market capitalization of $902.84 million, a PE ratio of -13.03 and a beta of 1.63. Intersect ENT, Inc. has a one year low of $14.68 and a one year high of $28.17. The company’s 50 day moving average price is $25.21 and its two-hundred day moving average price is $21.32. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.70 and a current ratio of 2.03.

Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings results on Friday, August 6th. The medical equipment provider reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.07). The business had revenue of $27.30 million for the quarter, compared to analysts’ expectations of $27.77 million. Intersect ENT had a negative return on equity of 102.23% and a negative net margin of 66.55%. The company’s revenue was up 178.6% compared to the same quarter last year. During the same period last year, the business posted ($0.65) earnings per share. On average, research analysts predict that Intersect ENT, Inc. will post -1.77 EPS for the current year.

Intersect ENT Company Profile

Intersect ENT, Inc is a commercial drug delivery company, which engages in the treatment of ear, nose, and throat conditions. Its products include PROPEL and SINUVA. The PROPEL used to maintain the opening and locally deliver steroid after sinus surgery. The SINUVA is used to treat adult patients with ethmoid sinus surgery yet suffer from recurrent sinus obstruction due to polyps.

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

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