Intersect ENT (XENT) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of Intersect ENT (NASDAQ:XENT) from a hold rating to a buy rating in a report issued on Thursday morning.

A number of other equities analysts also recently issued reports on the company. Berenberg Bank started coverage on Intersect ENT in a research note on Friday, April 20th. They set a buy rating for the company. Zacks Investment Research reiterated a hold rating on shares of Intersect ENT in a research note on Saturday, April 7th. Guggenheim reiterated a buy rating on shares of Intersect ENT in a research note on Thursday, March 1st. Canaccord Genuity reiterated a buy rating on shares of Intersect ENT in a research note on Monday, May 7th. Finally, ValuEngine upgraded Intersect ENT from a hold rating to a buy rating in a research note on Monday, April 2nd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $38.50.

Intersect ENT opened at $37.70 on Thursday, MarketBeat.com reports. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -67.68 and a beta of 0.76. Intersect ENT has a 52-week low of $26.77 and a 52-week high of $42.95.

Intersect ENT (NASDAQ:XENT) last released its quarterly earnings results on Tuesday, May 1st. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. The business had revenue of $24.70 million during the quarter, compared to the consensus estimate of $23.66 million. Intersect ENT had a negative return on equity of 13.67% and a negative net margin of 15.73%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.23) EPS. equities research analysts expect that Intersect ENT will post -0.64 earnings per share for the current fiscal year.

In other news, insider Lisa D. Earnhardt sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $36.79, for a total value of $735,800.00. Following the transaction, the insider now owns 489,683 shares in the company, valued at approximately $18,015,437.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lisa D. Earnhardt sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $39.59, for a total value of $593,850.00. Following the completion of the transaction, the insider now owns 499,683 shares in the company, valued at approximately $19,782,449.97. The disclosure for this sale can be found here. Insiders sold a total of 73,499 shares of company stock worth $2,860,627 in the last 90 days. Company insiders own 5.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Suntrust Banks Inc. purchased a new position in shares of Intersect ENT in the 1st quarter worth approximately $733,000. Principal Financial Group Inc. boosted its stake in shares of Intersect ENT by 10.1% in the 1st 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 purchased a new position in shares of Intersect ENT in the 1st quarter worth approximately $565,000. Royal Bank of Canada boosted its stake in shares of Intersect ENT by 298.8% in the 1st 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 boosted its stake in shares of Intersect ENT by 5.8% in the 1st 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. Hedge funds and other institutional investors own 88.54% of the company’s stock.

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.

Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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