Insider Selling: Intersect ENT Inc (XENT) CFO Sells 12,833 Shares of Stock
Intersect ENT Inc (NASDAQ:XENT) CFO Jeryl L. Hilleman sold 12,833 shares of Intersect ENT stock in a transaction that occurred 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 the SEC website.
Shares of Intersect ENT Inc (NASDAQ:XENT) traded up 2.60% on Thursday, reaching $31.60. 233,999 shares of the company’s stock traded hands. The company’s 50-day moving average price is $30.43 and its 200 day moving average price is $25.54. The firm’s market cap is $922.37 million. Intersect ENT Inc has a one year low of $7.65 and a one year high of $33.25.
Intersect ENT (NASDAQ:XENT) last posted 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. The firm had revenue of $24.00 million for the quarter, compared to analysts’ expectations of $22.62 million. Intersect ENT had a negative net margin of 9.46% and a negative return on equity of 8.15%. The business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.21) EPS. On average, equities analysts forecast that Intersect ENT Inc will post ($0.61) EPS for the current fiscal year.
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A number of research firms have recently weighed in on XENT. Zacks Investment Research upgraded shares of Intersect ENT from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Thursday. Canaccord Genuity lifted their price target on shares of Intersect ENT from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, September 13th. Bank of America Corporation lifted their price target on shares of Intersect ENT from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, September 11th. Piper Jaffray Companies reiterated a “buy” rating and issued a $35.00 price target on shares of Intersect ENT in a research report on Tuesday, August 22nd. Finally, TheStreet upgraded shares of Intersect ENT from a “d” rating to a “c-” rating in a research report on Tuesday, August 1st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.70.
A number of large investors have recently modified their holdings of XENT. ClariVest Asset Management LLC purchased a new position in shares of Intersect ENT in the first quarter valued at about $148,000. Legal & General Group Plc boosted its stake in shares of Intersect ENT by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 6,939 shares of the medical equipment provider’s stock valued at $193,000 after purchasing an additional 255 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Intersect ENT by 109.1% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 11,500 shares of the medical equipment provider’s stock valued at $196,000 after purchasing an additional 6,000 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of Intersect ENT during the 2nd quarter valued at about $205,000. Finally, Prudential Financial Inc. bought a new stake in shares of Intersect ENT during the 2nd quarter valued at about $229,000. Institutional investors 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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