Intersect ENT (XENT) Announces Earnings Results, Beats Estimates By $0.02 EPS

Intersect ENT (NASDAQ:XENT) issued its quarterly earnings data on Monday. The medical equipment provider reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02, MarketWatch Earnings reports. The company had revenue of $24.70 million during the quarter, compared to the consensus estimate of $24.09 million. Intersect ENT had a negative net margin of 17.22% and a negative return on equity of 15.01%. Intersect ENT’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. Intersect ENT updated its FY 2018 guidance to EPS and its Q4 2018 guidance to EPS.

NASDAQ XENT opened at $27.19 on Tuesday. Intersect ENT has a 12-month low of $25.15 and a 12-month high of $42.95.

In other Intersect ENT news, insider Lisa D. Earnhardt sold 20,000 shares of Intersect ENT stock in a transaction on Monday, October 15th. The shares were sold at an average price of $29.63, for a total value of $592,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jeryl L. Hilleman sold 12,833 shares of Intersect ENT stock in a transaction on Friday, September 14th. The stock was sold at an average price of $28.92, for a total transaction of $371,130.36. The disclosure for this sale can be found here. Insiders sold 85,666 shares of company stock worth $2,435,926 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XENT. Meeder Asset Management Inc. grew its holdings 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 worth $149,000 after purchasing an additional 3,388 shares during the last quarter. UBS Group AG grew its holdings 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 worth $184,000 after purchasing an additional 2,096 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Intersect ENT in the second quarter worth $242,000. Xact Kapitalforvaltning AB purchased a new position in Intersect ENT in the second quarter worth $247,000. Finally, PNC Financial Services Group Inc. grew its holdings in Intersect ENT by 2,091.8% in the second quarter. PNC Financial Services Group Inc. now owns 6,707 shares of the medical equipment provider’s stock worth $252,000 after purchasing an additional 6,401 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

XENT has been the subject of a number of recent research reports. BidaskClub downgraded shares of Intersect ENT from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. Piper Jaffray Companies reduced their price objective on shares of Intersect ENT from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, August 1st. Canaccord Genuity reissued a “buy” rating on shares of Intersect ENT in a research note on Wednesday, August 1st. ValuEngine downgraded shares of Intersect ENT from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, BTIG Research reissued a “hold” rating on shares of Intersect ENT in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $39.67.

TRADEMARK VIOLATION NOTICE: “Intersect ENT (XENT) Announces Earnings Results, Beats Estimates By $0.02 EPS” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://www.dispatchtribunal.com/2018/11/06/intersect-ent-xent-announces-earnings-results-beats-estimates-by-0-02-eps.html.

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.

Read More: Are Wall Street analysts’ stock ratings worth following?

Earnings History for Intersect ENT (NASDAQ:XENT)

Receive News & Ratings for Intersect ENT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intersect ENT and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply