Intersect ENT (NASDAQ:XENT)‘s stock had its “hold” rating reaffirmed by Zacks Investment Research in a research note issued to investors on Saturday.
According to Zacks, “Intersect ENT, Inc. is a commercial drug-device company. The Company’s initial products, PROPEL and PROPEL mini, are drug-eluting implants for use in patients with chronic sinusitis. It offers products and therapies for ear, nose, and throat surgeons to improve treatment for their patients with chronic diseases. Intersect ENT, Inc. is headquartered in Menlo Park, California. “
Several other brokerages have also weighed in on XENT. BidaskClub upgraded Intersect ENT from a “hold” rating to a “buy” rating in a report on Thursday, March 22nd. ValuEngine upgraded Intersect ENT from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Guggenheim restated a “buy” rating on shares of Intersect ENT in a report on Thursday, March 1st. Canaccord Genuity restated a “buy” rating and issued a $36.00 price objective on shares of Intersect ENT in a report on Monday, December 11th. Finally, JPMorgan Chase upgraded Intersect ENT from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 2nd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $33.38.
Shares of Intersect ENT stock opened at $36.60 on Friday. The firm has a market capitalization of $1,090.86, a PE ratio of -65.36 and a beta of 0.75. Intersect ENT has a fifty-two week low of $15.90 and a fifty-two week high of $40.00.
Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.06. The business had revenue of $29.53 million during the quarter, compared to analyst estimates of $29.45 million. Intersect ENT had a negative return on equity of 14.40% and a negative net margin of 16.99%. analysts forecast that Intersect ENT will post -0.61 EPS for the current year.
In other 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 transaction of $433,951.35. Following the sale, the chief financial officer now directly owns 25,767 shares of the company’s stock, valued at $871,182.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Richard E. Kaufman sold 50,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $33.33, for a total value of $1,666,500.00. Following the sale, the chief operating officer now directly owns 107,470 shares in the company, valued at $3,581,975.10. The disclosure for this sale can be found here. Insiders have sold 153,458 shares of company stock worth $5,377,798 over the last ninety days. 13.70% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in XENT. Jennison Associates LLC raised its position in shares of Intersect ENT by 22.4% during the fourth quarter. Jennison Associates LLC now owns 2,036,202 shares of the medical equipment provider’s stock worth $65,973,000 after purchasing an additional 372,320 shares during the period. Teachers Advisors LLC raised its position in shares of Intersect ENT by 333.9% during the fourth quarter. Teachers Advisors LLC now owns 288,732 shares of the medical equipment provider’s stock worth $9,355,000 after purchasing an additional 222,195 shares during the period. Alliancebernstein L.P. raised its position in shares of Intersect ENT by 12.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,466,730 shares of the medical equipment provider’s stock worth $47,522,000 after purchasing an additional 161,723 shares during the period. OxFORD Asset Management LLP acquired a new stake in shares of Intersect ENT during the third quarter worth $2,371,000. Finally, Renaissance Technologies LLC raised its position in shares of Intersect ENT by 27.7% during the fourth quarter. Renaissance Technologies LLC now owns 317,600 shares of the medical equipment provider’s stock worth $10,290,000 after purchasing an additional 68,803 shares during the period. 84.49% of the stock is currently owned by institutional investors.
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About Intersect ENT
Intersect ENT, Inc, a drug delivery company, researches and develops products for the treatment of patients with ear, nose and throat conditions in the United States. It offers PROPEL and PROPEL mini drug releasing implants for patients undergoing sinus surgery to treat chronic sinusitis; and PROPEL Contour, a steroid releasing implant to frontal and maxillary sinus ostia, or openings, of the dependent sinuses.
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