Intersect ENT, Inc. (XENT) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Intersect ENT, Inc. (NASDAQ:XENT) from a hold rating to a buy rating in a report issued on Thursday morning. The brokerage currently has $33.00 target price on the medical equipment provider’s stock.
According to Zacks, “Intersect ENT, Inc. is a commercial drug-device company. The Company’s initial products, PROPEL and PROPEL mini, are drug-eluting implants for use in patients with chronic sinusitis. It offers products and therapies for ear, nose, and throat surgeons to improve treatment for their patients with chronic diseases. Intersect ENT, Inc. is headquartered in Menlo Park, California. “
Several other research firms also recently weighed in on XENT. Bank of America Corporation lifted their target price on Intersect ENT from $33.00 to $40.00 and gave the company a buy rating in a research report on Monday, September 11th. Canaccord Genuity lifted their target price on Intersect ENT from $32.00 to $37.00 and gave the company a buy rating in a research report on Wednesday, September 13th. Piper Jaffray Companies reiterated a buy rating and set a $35.00 target price on shares of Intersect ENT in a research report on Tuesday, August 22nd. BidaskClub downgraded Intersect ENT from a buy rating to a hold rating in a research report on Wednesday, August 2nd. Finally, TheStreet upgraded Intersect ENT from a d rating to a c- rating in a research report on Tuesday, August 1st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Intersect ENT presently has a consensus rating of Buy and a consensus target price of $27.70.
Shares of Intersect ENT (NASDAQ:XENT) traded down 3.01% on Thursday, hitting $30.65. The stock had a trading volume of 394,145 shares. The stock’s market cap is $894.64 million. The stock has a 50 day moving average of $30.45 and a 200-day moving average of $25.68. Intersect ENT has a 12 month low of $7.65 and a 12 month high of $33.25.
Intersect ENT (NASDAQ:XENT) last released its earnings results 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. The company had revenue of $24.00 million for the quarter, compared to the consensus estimate of $22.62 million. Intersect ENT had a negative return on equity of 17.60% and a negative net margin of 22.94%. Intersect ENT’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.21) earnings per share. Equities research analysts anticipate that Intersect ENT will post ($0.61) EPS for the current year.
In other news, CFO Jeryl L. Hilleman sold 12,835 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $27.18, for a total value of $348,855.30. Following the transaction, the chief financial officer now directly owns 27,835 shares in the company, valued at $756,555.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lisa D. Earnhardt sold 20,000 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $29.03, for a total value of $580,600.00. Following the completion of the transaction, the insider now owns 580,868 shares in the company, valued at $16,862,598.04. The disclosure for this sale can be found here. Insiders sold 159,898 shares of company stock worth $4,730,084 over the last 90 days. Company insiders own 13.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Intersect ENT by 0.4% in the first quarter. Wellington Management Group LLP now owns 2,921,012 shares of the medical equipment provider’s stock valued at $50,095,000 after acquiring an additional 10,683 shares in the last quarter. FMR LLC lifted its position in shares of Intersect ENT by 247.7% in the second quarter. FMR LLC now owns 1,482,909 shares of the medical equipment provider’s stock valued at $41,447,000 after acquiring an additional 1,056,389 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Intersect ENT by 6.7% in the second quarter. Vanguard Group Inc. now owns 1,139,623 shares of the medical equipment provider’s stock valued at $31,853,000 after acquiring an additional 71,750 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Intersect ENT by 2,746.9% in the second quarter. Alliancebernstein L.P. now owns 931,505 shares of the medical equipment provider’s stock valued at $26,036,000 after acquiring an additional 898,785 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of Intersect ENT by 49.8% in the first quarter. Neuberger Berman Group LLC now owns 884,627 shares of the medical equipment provider’s stock valued at $15,171,000 after acquiring an additional 293,949 shares in the last quarter. Institutional investors and hedge funds own 83.12% of the company’s stock.
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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