Stock Traders Purchase Large Volume of Call Options on Intersect ENT (XENT)
Intersect ENT Inc (NASDAQ:XENT) was the recipient of some unusual options trading on Wednesday. Stock traders bought 4,070 call options on the company. This represents an increase of approximately 2,807% compared to the typical daily volume of 140 call options.
XENT has been the topic of a number of analyst reports. BidaskClub upgraded Intersect ENT from a “sell” rating to a “hold” rating in a research report on Wednesday, September 5th. ValuEngine upgraded Intersect ENT from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Northland Securities reiterated a “hold” rating and issued a $28.00 price target on shares of Intersect ENT in a research report on Wednesday, October 17th. Finally, Zacks Investment Research raised Intersect ENT from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, November 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $37.17.
Shares of NASDAQ:XENT traded up $0.66 during midday trading on Friday, reaching $30.76. The company’s stock had a trading volume of 231,959 shares, compared to its average volume of 214,086. The company has a market capitalization of $919.71 million, a price-to-earnings ratio of -54.93 and a beta of 0.58. Intersect ENT has a fifty-two week low of $25.15 and a fifty-two week high of $42.95.
In other Intersect ENT news, insider Lisa D. Earnhardt sold 20,000 shares of the company’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $29.14, for a total value of $582,800.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jeryl L. Hilleman sold 12,833 shares of the company’s stock in a transaction dated Monday, October 8th. The shares were sold at an average price of $27.99, for a total value of $359,195.67. The disclosure for this sale can be found here. Insiders sold a total of 85,666 shares of company stock worth $2,505,926 in the last quarter. Corporate insiders own 5.90% of the company’s stock.
Several large investors have recently made changes to their positions in XENT. Meeder Asset Management Inc. lifted its stake in shares of Intersect ENT by 565.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,987 shares of the medical equipment provider’s stock valued at $149,000 after purchasing an additional 3,388 shares during the period. UBS Group AG raised its stake in Intersect ENT by 81.1% during the 1st quarter. UBS Group AG now owns 4,679 shares of the medical equipment provider’s stock worth $184,000 after buying an additional 2,096 shares during the period. Tekla Capital Management LLC acquired a new position in Intersect ENT during the 3rd quarter worth approximately $240,000. Campbell & CO Investment Adviser LLC acquired a new position in Intersect ENT during the 2nd quarter worth approximately $242,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Intersect ENT during the 2nd quarter worth approximately $247,000. 91.66% of the stock is currently owned by institutional investors.
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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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