Altium Capital Management LP Grows Holdings in Intersect ENT, Inc. (NASDAQ:XENT)

Altium Capital Management LP boosted its position in shares of Intersect ENT, Inc. (NASDAQ:XENT) by 28.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 182,456 shares of the medical equipment provider’s stock after purchasing an additional 40,600 shares during the quarter. Altium Capital Management LP owned about 0.55% of Intersect ENT worth $3,118,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Eaton Vance Management purchased a new stake in Intersect ENT during the 1st quarter valued at about $73,000. SG Americas Securities LLC purchased a new stake in Intersect ENT during the 1st quarter valued at about $101,000. HighMark Wealth Management LLC grew its position in Intersect ENT by 448.1% during the 2nd quarter. HighMark Wealth Management LLC now owns 9,575 shares of the medical equipment provider’s stock valued at $164,000 after purchasing an additional 7,828 shares during the last quarter. Royal Bank of Canada grew its position in Intersect ENT by 21.1% during the 1st quarter. Royal Bank of Canada now owns 8,222 shares of the medical equipment provider’s stock valued at $171,000 after purchasing an additional 1,430 shares during the last quarter. Finally, HRT Financial LP purchased a new stake in Intersect ENT during the 1st quarter valued at about $210,000. 87.04% of the stock is currently owned by institutional investors.

Several analysts recently commented on XENT shares. BTIG Research downgraded shares of Intersect ENT from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 10th. SVB Leerink cut shares of Intersect ENT from an “outperform” rating to a “market perform” rating and set a $28.25 target price on the stock. in a research note on Wednesday, August 11th. Guggenheim cut shares of Intersect ENT from a “buy” rating to a “neutral” rating and set a $28.30 target price on the stock. in a research note on Monday, August 9th. Finally, Canaccord Genuity cut shares of Intersect ENT from a “buy” rating to a “hold” rating and lowered their target price for the company from $29.00 to $28.25 in a research note on Friday, August 6th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.47.

Shares of NASDAQ:XENT traded down $0.06 during trading on Thursday, hitting $27.16. The company’s stock had a trading volume of 383 shares, compared to its average volume of 412,626. The company has a 50-day moving average of $27.31 and a 200-day moving average of $22.04. Intersect ENT, Inc. has a 12 month low of $14.68 and a 12 month high of $28.17. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.03 and a quick ratio of 1.70. The firm has a market cap of $904.84 million, a price-to-earnings ratio of -13.09 and a beta of 1.63.

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

Intersect ENT 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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