Equities Analysts Issue Forecasts for Intersect ENT, Inc.’s FY2020 Earnings (XENT)

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.

Earnings History and Estimates for Intersect ENT (NASDAQ:XENT)

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