Intersect ENT, Inc. (NASDAQ:XENT – Get Rating) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 2,030,000 shares, a decrease of 21.6% from the March 15th total of 2,590,000 shares. Based on an average trading volume of 251,800 shares, the short-interest ratio is presently 8.1 days. Approximately 6.1% of the company’s shares are short sold.
Separately, StockNews.com started coverage on shares of Intersect ENT in a report on Thursday, March 31st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, Intersect ENT presently has a consensus rating of “Hold” and an average target price of $25.95.
NASDAQ XENT opened at $27.96 on Monday. Intersect ENT has a 12-month low of $15.92 and a 12-month high of $28.17. The stock has a market capitalization of $944.77 million, a PE ratio of -5.84 and a beta of 1.53. The company has a quick ratio of 1.53, a current ratio of 1.85 and a debt-to-equity ratio of 6.89. The company has a 50 day moving average price of $27.58 and a two-hundred day moving average price of $27.30.
Intersect ENT (NASDAQ:XENT – Get Rating) last announced its earnings results on Tuesday, March 8th. The medical equipment provider reported ($0.70) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.40). The company had revenue of $30.67 million for the quarter, compared to the consensus estimate of $37.43 million. Intersect ENT had a negative return on equity of 709.52% and a negative net margin of 149.54%. As a group, equities analysts anticipate that Intersect ENT will post -1.2 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of XENT. Magnetar Financial LLC bought a new stake in shares of Intersect ENT in the 3rd quarter valued at about $69,571,000. Versor Investments LP acquired a new position in Intersect ENT during the 3rd quarter worth approximately $61,421,000. Millennium Management LLC boosted its position in Intersect ENT by 1,084.1% during the 3rd quarter. Millennium Management LLC now owns 1,575,686 shares of the medical equipment provider’s stock worth $42,859,000 after acquiring an additional 1,442,615 shares during the last quarter. Alpine Associates Management Inc. acquired a new position in Intersect ENT during the 3rd quarter worth approximately $37,889,000. Finally, FMR LLC boosted its position in Intersect ENT by 1,863.8% during the 1st quarter. FMR LLC now owns 632,451 shares of the medical equipment provider’s stock worth $20,334,000 after acquiring an additional 600,246 shares during the last quarter.
About Intersect ENT
Intersect ENT, Inc operates as an ear, nose, and throat (ENT) medical technology company in the United States. The company offers PROPEL, a steroid releasing implant to open the surgically enlarged sinus; PROPEL Mini, a releasing implant to treat patients undergoing frontal sinus surgery; and PROPEL Contour, a steroid releasing implant for the treatment of frontal and maxillary sinus ostia, or openings, of the dependent sinuses.