BidaskClub downgraded shares of Intersect ENT (NASDAQ:XENT) from a hold rating to a sell rating in a research note issued to investors on Thursday.
A number of other equities research analysts have also weighed in on XENT. Canaccord Genuity restated a buy rating on shares of Intersect ENT in a research note on Wednesday, August 1st. ValuEngine lowered Intersect ENT from a buy rating to a hold rating in a research note on Thursday, August 2nd. BTIG Research restated a hold rating on shares of Intersect ENT in a research note on Thursday, August 2nd. Finally, Piper Jaffray Companies dropped their price target on Intersect ENT from $45.00 to $40.00 and set an overweight rating on the stock in a research note on Wednesday, August 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $40.33.
Shares of Intersect ENT stock opened at $29.95 on Thursday. The stock has a market capitalization of $857.29 million, a price-to-earnings ratio of -53.48 and a beta of 0.56. Intersect ENT has a one year low of $25.15 and a one year high of $42.95.
Intersect ENT (NASDAQ:XENT) last announced its earnings results on Wednesday, August 1st. The medical equipment provider reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.03. Intersect ENT had a negative net margin of 17.22% and a negative return on equity of 15.01%. The business had revenue of $26.30 million during the quarter, compared to the consensus estimate of $28.15 million. During the same period in the previous year, the company posted ($0.08) earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. equities analysts predict that Intersect ENT will post -0.86 EPS for the current fiscal year.
In other news, CEO Lisa D. Earnhardt sold 20,000 shares of the business’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $33.08, for a total transaction of $661,600.00. Following the sale, the chief executive officer now owns 474,683 shares in the company, valued at $15,702,513.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dana G. Jr. Mead purchased 3,811 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were acquired at an average price of $26.22 per share, for a total transaction of $99,924.42. The disclosure for this purchase can be found here. Insiders have sold 47,000 shares of company stock worth $1,436,940 in the last 90 days. Insiders own 5.90% of the company’s stock.
Several hedge funds have recently modified their holdings of XENT. SG Americas Securities LLC purchased a new stake in Intersect ENT in the first quarter valued at approximately $132,000. Meeder Asset Management Inc. boosted its position in Intersect ENT by 565.6% in the second quarter. Meeder Asset Management Inc. now owns 3,987 shares of the medical equipment provider’s stock valued at $149,000 after buying an additional 3,388 shares during the last quarter. UBS Group AG boosted its position in Intersect ENT by 81.1% in the first quarter. UBS Group AG now owns 4,679 shares of the medical equipment provider’s stock valued at $184,000 after buying an additional 2,096 shares during the last quarter. Aperio Group LLC purchased a new stake in Intersect ENT in the first quarter valued at approximately $213,000. Finally, All Terrain Financial Advisors LLC purchased a new stake in Intersect ENT in the first quarter valued at approximately $241,000. Institutional investors and hedge funds own 90.35% 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.
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