Intersect ENT, Inc. (NASDAQ:XENT) Lowered to Buy at BidaskClub
BidaskClub cut shares of Intersect ENT, Inc. (NASDAQ:XENT) from a strong-buy rating to a buy rating in a report published on Tuesday morning.
XENT has been the topic of several other research reports. Zacks Investment Research downgraded shares of Intersect ENT from a hold rating to a sell rating in a report on Wednesday, July 5th. ValuEngine upgraded shares of Intersect ENT from a sell rating to a hold rating in a report on Friday, June 2nd. William Blair restated an outperform rating on shares of Intersect ENT in a report on Wednesday, May 10th. Northland Securities downgraded shares of Intersect ENT from an outperform rating to a market perform rating in a report on Wednesday, May 31st. Finally, Canaccord Genuity restated a buy rating on shares of Intersect ENT in a report on Wednesday, May 3rd. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $18.60.
Shares of Intersect ENT (NASDAQ:XENT) traded down 0.18% during trading on Tuesday, hitting $27.25. 188,389 shares of the stock traded hands. The company’s market cap is $784.04 million. Intersect ENT has a one year low of $7.65 and a one year high of $29.55. The firm has a 50 day moving average price of $27.47 and a 200-day moving average price of $19.90.
Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings data on Tuesday, May 2nd. The medical equipment provider reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.02. Intersect ENT had a negative net margin of 28.71% and a negative return on equity of 20.49%. The company had revenue of $20.47 million for the quarter, compared to the consensus estimate of $19.39 million. Analysts anticipate that Intersect ENT will post ($0.74) earnings per share for the current fiscal year.
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In related news, COO Richard E. Kaufman sold 12,500 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $28.25, for a total value of $353,125.00. Following the sale, the chief operating officer now owns 169,821 shares of the company’s stock, valued at $4,797,443.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lisa D. Earnhardt sold 20,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $459,600.00. Following the completion of the sale, the insider now directly owns 600,868 shares in the company, valued at approximately $13,807,946.64. The disclosure for this sale can be found here. In the last three months, insiders sold 105,335 shares of company stock worth $2,721,580. 13.70% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of XENT. Candriam Luxembourg S.C.A. boosted its stake in Intersect ENT by 14.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 93,000 shares of the medical equipment provider’s stock worth $1,595,000 after buying an additional 12,000 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Intersect ENT during the fourth quarter worth $377,000. Wellington Management Group LLP boosted its stake in 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 worth $50,095,000 after buying an additional 10,683 shares during the last quarter. FMR LLC acquired a new stake in Intersect ENT during the fourth quarter worth $1,452,000. Finally, Teachers Advisors LLC boosted its stake in Intersect ENT by 0.3% in the fourth quarter. Teachers Advisors LLC now owns 59,774 shares of the medical equipment provider’s stock worth $723,000 after buying an additional 206 shares during the last quarter. 76.12% of the stock is currently owned by institutional investors and hedge funds.
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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