Entellus Medical Inc (ENTL) Sees Large Decline in Short Interest

Entellus Medical Inc (NASDAQ:ENTL) saw a significant decline in short interest in December. As of December 15th, there was short interest totalling 815,374 shares, a decline of 63.5% from the November 30th total of 2,232,073 shares. Based on an average daily volume of 1,256,376 shares, the days-to-cover ratio is currently 0.6 days. Currently, 5.6% of the company’s stock are sold short.

Several research firms have commented on ENTL. TheStreet raised Entellus Medical from a “d” rating to a “c-” rating in a report on Thursday, December 14th. Zacks Investment Research downgraded Entellus Medical from a “hold” rating to a “sell” rating in a report on Wednesday. William Blair downgraded Entellus Medical from an “outperform” rating to a “market perform” rating in a report on Friday, December 8th. ValuEngine raised Entellus Medical from a “sell” rating to a “hold” rating in a report on Thursday, December 7th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $17.00 target price on shares of Entellus Medical in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $20.40.

Shares of Entellus Medical (NASDAQ ENTL) opened at $24.05 on Wednesday. Entellus Medical has a 1-year low of $11.47 and a 1-year high of $25.58. The company has a quick ratio of 1.71, a current ratio of 1.92 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $612.65 and a price-to-earnings ratio of -18.79.

In related news, Director Brian E. Farley sold 101,319 shares of Entellus Medical stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $23.85, for a total transaction of $2,416,458.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kevin L. Mensink sold 2,500 shares of Entellus Medical stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $19.00, for a total value of $47,500.00. The disclosure for this sale can be found here. Insiders have sold 114,469 shares of company stock worth $2,659,969 over the last 90 days. 7.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Archon Capital Management LLC raised its stake in shares of Entellus Medical by 14.9% in the third quarter. Archon Capital Management LLC now owns 550,224 shares of the medical technology company’s stock worth $10,157,000 after purchasing an additional 71,404 shares during the last quarter. Aisling Capital LLC purchased a new position in shares of Entellus Medical in the third quarter worth $9,759,000. First Light Asset Management LLC raised its stake in shares of Entellus Medical by 25.7% in the second quarter. First Light Asset Management LLC now owns 512,416 shares of the medical technology company’s stock worth $8,486,000 after purchasing an additional 104,919 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Entellus Medical by 14.2% in the second quarter. Vanguard Group Inc. now owns 485,294 shares of the medical technology company’s stock worth $8,036,000 after purchasing an additional 60,471 shares during the last quarter. Finally, Tekla Capital Management LLC purchased a new position in shares of Entellus Medical in the second quarter worth $5,655,000. Hedge funds and other institutional investors own 78.76% of the company’s stock.

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Entellus Medical Company Profile

Entellus Medical, Inc is a medical technology company. The Company is focused on delivering patient and physician experiences through products designed for the minimally invasive treatment of chronic and recurrent sinusitis in both adult and pediatric patients. Its three core product lines, XprESS Multi-Sinus Dilation Systems, MiniFESS Surgical Instruments, and FocESS Imaging & Navigation, are designed to enable ear, nose and throat (ENT), physicians to perform a range of procedures in the ENT physician office and to simplify operating room-based treatment.

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