Intersect ENT, Inc. (XENT) Given “Hold” Rating at Northland Securities
Northland Securities reissued their hold rating on shares of Intersect ENT, Inc. (NASDAQ:XENT) in a research report released on Friday. The brokerage currently has a $25.00 price target on the medical equipment provider’s stock.
A number of other equities analysts also recently issued reports on the company. Bank of America Corporation increased their price target on Intersect ENT from $33.00 to $40.00 and gave the stock a buy rating in a research report on Monday, September 11th. Zacks Investment Research raised Intersect ENT from a sell rating to a hold rating in a research report on Wednesday, July 26th. Canaccord Genuity raised their price objective on Intersect ENT from $32.00 to $37.00 and gave the company a buy rating in a research report on Wednesday, September 13th. BidaskClub downgraded Intersect ENT from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Finally, Deutsche Bank AG set a $31.00 price objective on Intersect ENT and gave the company a buy rating in a research report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $30.88.
Intersect ENT (NASDAQ XENT) opened at $28.50 on Friday.
Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. Intersect ENT had a negative return on equity of 16.02% and a negative net margin of 19.81%. The business had revenue of $22.31 million for the quarter, compared to the consensus estimate of $21.53 million. During the same quarter in the prior year, the company earned ($0.22) EPS. The business’s revenue was up 20.8% compared to the same quarter last year. analysts anticipate that Intersect ENT will post -0.61 EPS for the current fiscal year.
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In other Intersect ENT news, CFO Jeryl L. Hilleman sold 12,833 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $31.05, for a total value of $398,464.65. Following the completion of the sale, the chief financial officer now directly owns 27,833 shares in the company, valued at $864,214.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Lisa D. Earnhardt sold 20,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $30.79, for a total value of $615,800.00. Following the completion of the sale, the insider now owns 525,868 shares of the company’s stock, valued at $16,191,475.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 134,563 shares of company stock worth $3,999,247. 13.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in XENT. FMR LLC raised its stake in 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 buying an additional 1,056,389 shares during the last quarter. Alliancebernstein L.P. raised its stake in 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 buying an additional 898,785 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Intersect ENT in the second quarter valued at about $9,384,000. EAM Investors LLC purchased a new stake in Intersect ENT in the second quarter valued at about $4,542,000. Finally, State Street Corp raised its stake in Intersect ENT by 33.6% in the second 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 last quarter. Institutional investors own 83.08% 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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