Intersect ENT, Inc. Forecasted to Post FY2020 Earnings of $0.37 Per Share (XENT)
Intersect ENT, Inc. (NASDAQ:XENT) – Equities research analysts at Leerink Swann cut their FY2020 earnings per share estimates for Intersect ENT in a research note issued on Thursday. Leerink Swann analyst R. Newitter now anticipates that the medical equipment provider will post earnings per share of $0.37 for the year, down from their previous forecast of $0.43. Leerink Swann also issued estimates for Intersect ENT’s FY2021 earnings at $0.92 EPS.
Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.05. Intersect ENT had a negative net margin of 19.81% and a negative return on equity of 15.96%. The firm had revenue of $22.31 million during the quarter, compared to analysts’ expectations of $21.53 million. During the same quarter in the previous year, the company posted ($0.22) EPS. Intersect ENT’s revenue was up 20.8% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: This story was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.watchlistnews.com/intersect-ent-inc-forecasted-to-post-fy2020-earnings-of-0-37-per-share-xent/1720509.html.
Several other research firms have also recently weighed in on XENT. Canaccord Genuity boosted their price objective on shares of Intersect ENT from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, September 13th. Piper Jaffray Companies restated a “buy” rating and issued a $35.00 price objective on shares of Intersect ENT in a research report on Tuesday, August 22nd. Northland Securities restated a “hold” rating and issued a $25.00 price objective on shares of Intersect ENT in a research report on Friday, November 3rd. Bank of America Corporation boosted their price objective 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. Finally, Deutsche Bank AG set a $31.00 price objective on shares of Intersect ENT and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $30.88.
Intersect ENT (NASDAQ XENT) traded up $0.50 during mid-day trading on Monday, reaching $29.80. 176,873 shares of the company traded hands, compared to its average volume of 292,154. Intersect ENT has a 1 year low of $9.20 and a 1 year high of $33.25.
Several hedge funds have recently made changes to their positions in XENT. FMR LLC grew its holdings in shares of Intersect ENT by 247.7% in the 2nd quarter. FMR LLC now owns 1,482,909 shares of the medical equipment provider’s stock valued at $41,447,000 after buying an additional 1,056,389 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Intersect ENT by 2,746.9% in the 2nd quarter. Alliancebernstein L.P. now owns 931,505 shares of the medical equipment provider’s stock valued at $26,036,000 after buying an additional 898,785 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Intersect ENT in the 2nd quarter valued at $9,384,000. EAM Investors LLC acquired a new position in shares of Intersect ENT in the 2nd quarter valued at $4,542,000. Finally, State Street Corp grew its holdings in shares of Intersect ENT by 33.6% in the 2nd quarter. State Street Corp now owns 552,344 shares of the medical equipment provider’s stock valued at $15,437,000 after buying an additional 138,968 shares during the period. 87.22% of the stock is owned by institutional investors.
In other news, CFO Jeryl L. Hilleman sold 12,833 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $31.05, for a total value of $398,464.65. Following the completion of the transaction, the chief financial officer now owns 27,833 shares of the company’s stock, valued at approximately $864,214.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Richard E. Kaufman sold 22,425 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $30.22, for a total transaction of $677,683.50. Following the completion of the transaction, the chief operating officer now directly owns 149,821 shares of the company’s stock, valued at approximately $4,527,590.62. The disclosure for this sale can be found here. Insiders have sold a total of 136,263 shares of company stock valued at $4,007,798 in the last quarter. Corporate insiders own 13.70% of the company’s stock.
Intersect ENT Company Profile
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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