BidaskClub upgraded shares of Intersect ENT (NASDAQ:XENT) from a sell rating to a hold rating in a research note issued to investors on Saturday, December 30th.
XENT has been the topic of a number of other research reports. Bank of America lifted their target price on Intersect ENT from $33.00 to $40.00 and gave the stock a buy rating in a research report on Monday, September 11th. Zacks Investment Research cut Intersect ENT from a buy rating to a hold rating in a research report on Wednesday, November 1st. Guggenheim restated a buy rating and issued a $41.00 price target on shares of Intersect ENT in a research report on Friday, December 15th. Canaccord Genuity reaffirmed a buy rating and issued a $36.00 price objective on shares of Intersect ENT in a report on Monday, December 11th. Finally, BTIG Research reaffirmed a hold rating on shares of Intersect ENT in a report on Tuesday, November 7th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $33.38.
Intersect ENT (NASDAQ XENT) opened at $34.35 on Friday. Intersect ENT has a 52-week low of $11.75 and a 52-week high of $35.34. The company has a market capitalization of $1,020.65, a price-to-earnings ratio of -54.52 and a beta of 0.67.
Intersect ENT (NASDAQ:XENT) last released its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. Intersect ENT had a negative return on equity of 15.96% and a negative net margin of 19.81%. The firm had revenue of $22.31 million during the quarter, compared to analyst estimates of $21.53 million. During the same period last year, the business posted ($0.22) earnings per share. Intersect ENT’s revenue was up 20.8% compared to the same quarter last year. analysts forecast that Intersect ENT will post -0.63 EPS for the current fiscal year.
In other Intersect ENT news, CFO Jeryl L. Hilleman sold 12,835 shares of the business’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $33.81, for a total value of $433,951.35. Following the completion of the transaction, the chief financial officer now directly owns 25,767 shares in the company, valued at approximately $871,182.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lisa D. Earnhardt sold 10,685 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $31.87, for a total value of $340,530.95. Following the completion of the transaction, the insider now owns 487,868 shares of the company’s stock, valued at $15,548,353.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 126,886 shares of company stock worth $3,887,494. 13.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in XENT. Russell Investments Group Ltd. boosted its position in Intersect ENT by 8.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 38,214 shares of the medical equipment provider’s stock worth $1,068,000 after purchasing an additional 3,090 shares during the period. Rhumbline Advisers boosted its position in Intersect ENT by 5.9% during the 2nd quarter. Rhumbline Advisers now owns 29,396 shares of the medical equipment provider’s stock worth $822,000 after purchasing an additional 1,625 shares during the period. State of Wisconsin Investment Board purchased a new stake in Intersect ENT during the 2nd quarter worth $531,000. Bank of New York Mellon Corp boosted its position in Intersect ENT by 23.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 185,117 shares of the medical equipment provider’s stock worth $5,174,000 after purchasing an additional 34,577 shares during the period. Finally, Legal & General Group Plc boosted its position in Intersect ENT by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 6,939 shares of the medical equipment provider’s stock valued at $193,000 after buying an additional 255 shares during the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.
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Intersect ENT Company Profile
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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