Brokerages expect Intersect ENT (NASDAQ:XENT) to announce $28.02 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Intersect ENT’s earnings. The lowest sales estimate is $27.59 million and the highest is $29.17 million. Intersect ENT reported sales of $23.99 million in the same quarter last year, which indicates a positive year-over-year growth rate of 16.8%. The firm is scheduled to announce its next earnings results on Tuesday, August 7th.
According to Zacks, analysts expect that Intersect ENT will report full-year sales of $115.86 million for the current financial year, with estimates ranging from $113.95 million to $118.82 million. For the next fiscal year, analysts forecast that the business will post sales of $148.07 million per share, with estimates ranging from $132.00 million to $160.97 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Intersect ENT.
Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings results on Tuesday, May 1st. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.02. Intersect ENT had a negative net margin of 15.73% and a negative return on equity of 13.67%. The firm had revenue of $24.70 million during the quarter, compared to the consensus estimate of $23.66 million. During the same period last year, the firm posted ($0.23) EPS. The firm’s quarterly revenue was up 20.5% on a year-over-year basis.
Several equities analysts recently issued reports on XENT shares. BidaskClub raised shares of Intersect ENT from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Zacks Investment Research raised shares of Intersect ENT from a “sell” rating to a “hold” rating in a research note on Friday, January 26th. Guggenheim reaffirmed a “buy” rating on shares of Intersect ENT in a research note on Thursday, March 1st. ValuEngine raised shares of Intersect ENT from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Berenberg Bank began coverage on shares of Intersect ENT in a research note on Friday, April 20th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Intersect ENT currently has a consensus rating of “Buy” and an average price target of $38.50.
Intersect ENT traded up $0.25, hitting $39.55, during trading on Friday, MarketBeat Ratings reports. 257,544 shares of the stock traded hands, compared to its average volume of 278,696. Intersect ENT has a one year low of $24.05 and a one year high of $42.25. The company has a market capitalization of $1.19 billion, a P/E ratio of -70.63 and a beta of 0.75.
In related news, insider Lisa D. Earnhardt sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $39.59, for a total transaction of $593,850.00. Following the completion of the sale, the insider now directly owns 499,683 shares of the company’s stock, valued at $19,782,449.97. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeryl L. Hilleman sold 12,833 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $35.92, for a total transaction of $460,961.36. Following the sale, the chief financial officer now directly owns 36,265 shares of the company’s stock, valued at $1,302,638.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,499 shares of company stock valued at $2,625,452. Insiders own 5.90% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Suntrust Banks Inc. bought a new stake in shares of Intersect ENT during the first quarter worth approximately $733,000. Principal Financial Group Inc. raised its stake in shares of Intersect ENT by 10.1% during the first quarter. Principal Financial Group Inc. now owns 16,564 shares of the medical equipment provider’s stock worth $651,000 after buying an additional 1,524 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Intersect ENT during the first quarter worth approximately $565,000. Royal Bank of Canada raised its stake in shares of Intersect ENT by 298.8% during the first quarter. Royal Bank of Canada now owns 115,103 shares of the medical equipment provider’s stock worth $4,522,000 after buying an additional 86,239 shares during the last quarter. Finally, First Light Asset Management LLC raised its stake in shares of Intersect ENT by 5.8% during the first quarter. First Light Asset Management LLC now owns 189,231 shares of the medical equipment provider’s stock worth $7,437,000 after buying an additional 10,335 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.
Intersect ENT Company Profile
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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