Intersect ENT, Inc. (NASDAQ:XENT) – Investment analysts at Leerink Swann lowered their FY2020 earnings per share (EPS) estimates for Intersect ENT in a note issued to investors on Thursday. Leerink Swann analyst R. Newitter now expects that the medical equipment provider will post earnings per share of $0.37 for the year, down from their prior estimate of $0.43. Leerink Swann also issued estimates for Intersect ENT’s FY2021 earnings at $0.92 EPS.
Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Intersect ENT from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. TheStreet raised shares of Intersect ENT from a “d” rating to a “c-” rating in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Intersect ENT from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Canaccord Genuity reissued a “buy” rating and issued a $32.00 target price on shares of Intersect ENT in a research report on Wednesday, August 2nd. Finally, Deutsche Bank AG set a $31.00 target price on shares of Intersect ENT and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Intersect ENT presently has an average rating of “Buy” and a consensus target price of $30.88.
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Shares of Intersect ENT (XENT) traded up $0.50 on Monday, hitting $29.30. 261,112 shares of the stock traded hands, compared to its average volume of 292,667. Intersect ENT has a 12 month low of $9.20 and a 12 month high of $33.25.
Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. The company had revenue of $22.31 million for the quarter, compared to analysts’ expectations of $21.53 million. Intersect ENT had a negative net margin of 19.81% and a negative return on equity of 15.96%. The business’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.22) EPS.
In related news, CFO Jeryl L. Hilleman sold 12,833 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $31.05, for a total transaction of $398,464.65. Following the transaction, the chief financial officer now directly owns 27,833 shares of the company’s stock, valued at $864,214.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Richard E. Kaufman sold 22,425 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $30.22, for a total transaction of $677,683.50. Following the transaction, the chief operating officer now directly owns 149,821 shares in the company, valued at $4,527,590.62. The disclosure for this sale can be found here. Insiders have sold 136,263 shares of company stock worth $4,007,798 over the last ninety days. 13.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new position in Intersect ENT during the third quarter valued at approximately $926,000. Iguana Healthcare Management LLC lifted its stake in Intersect ENT by 28.6% in the third quarter. Iguana Healthcare Management LLC now owns 90,000 shares of the medical equipment provider’s stock valued at $2,804,000 after acquiring an additional 20,000 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Intersect ENT by 8.0% in the third quarter. Neuberger Berman Group LLC now owns 802,521 shares of the medical equipment provider’s stock valued at $24,999,000 after acquiring an additional 59,620 shares during the last quarter. California Public Employees Retirement System lifted its stake in Intersect ENT by 134.8% in the third quarter. California Public Employees Retirement System now owns 21,833 shares of the medical equipment provider’s stock valued at $680,000 after acquiring an additional 12,533 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in Intersect ENT by 34.8% in the third quarter. Cubist Systematic Strategies LLC now owns 11,025 shares of the medical equipment provider’s stock valued at $343,000 after acquiring an additional 2,846 shares during the last quarter. 87.22% of the stock is currently owned by hedge funds and other institutional investors.
About Intersect ENT
Intersect ENT, Inc is a commercial-stage drug-device company. The Company develops drugs for patients with ear, nose and throat (ENT) conditions. The Company has developed a drug releasing bioabsorbable implant technology that enables targeted and sustained release of therapeutic agents. This targeted drug delivery technology is designed to allow ENT physicians to manage patient care.
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