Insider Selling: Intersect ENT, Inc. (XENT) CFO Sells $384,476.68 in Stock
Intersect ENT, Inc. (NASDAQ:XENT) CFO Jeryl L. Hilleman sold 12,833 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $29.96, for a total transaction of $384,476.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Intersect ENT, Inc. (NASDAQ XENT) opened at 30.65 on Friday. The firm’s market capitalization is $894.64 million. Intersect ENT, Inc. has a 52-week low of $7.65 and a 52-week high of $33.25. The firm has a 50-day moving average of $30.45 and a 200 day moving average of $25.68.
Intersect ENT (NASDAQ:XENT) last issued its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.11. Intersect ENT had a negative net margin of 22.94% and a negative return on equity of 17.60%. The company had revenue of $24.00 million for the quarter, compared to analyst estimates of $22.62 million. During the same period in the prior year, the firm earned ($0.21) earnings per share. The company’s revenue was up 24.4% on a year-over-year basis. Analysts predict that Intersect ENT, Inc. will post ($0.61) EPS for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC acquired a new position in shares of Intersect ENT in the first quarter valued at about $148,000. Legal & General Group Plc grew its stake in shares of Intersect ENT by 3.8% in the second quarter. Legal & General Group Plc now owns 6,939 shares of the medical equipment provider’s stock valued at $193,000 after acquiring an additional 255 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its stake in shares of Intersect ENT by 109.1% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 11,500 shares of the medical equipment provider’s stock valued at $196,000 after acquiring an additional 6,000 shares in the last quarter. Moors & Cabot Inc. acquired a new position in shares of Intersect ENT in the second quarter valued at about $205,000. Finally, Prudential Financial Inc. acquired a new position in shares of Intersect ENT in the second quarter valued at about $229,000. Institutional investors and hedge funds own 83.12% of the company’s stock.
A number of research analysts recently issued reports on XENT shares. BidaskClub lowered shares of Intersect ENT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Canaccord Genuity restated a “buy” rating and issued a $32.00 price target on shares of Intersect ENT in a research report on Wednesday, August 2nd. Deutsche Bank AG set a $31.00 price target on shares of Intersect ENT and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Intersect ENT from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Thursday. Finally, Bank of America Corporation raised their price target on shares of Intersect ENT from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, September 11th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $27.70.
About Intersect ENT
Intersect ENT, Inc is a commercial-stage drug-device company. The Company develops drugs for patients with ear, nose and throat (ENT) conditions. The Company has developed a drug releasing bioabsorbable implant technology that enables targeted and sustained release of therapeutic agents. This targeted drug delivery technology is designed to allow ENT physicians to manage patient care.
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