Intersect ENT, Inc. (XENT) Posts Earnings Results, Beats Expectations By $0.05 EPS
Intersect ENT, Inc. (NASDAQ:XENT) announced its quarterly earnings data on Thursday. The medical equipment provider reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.05, Bloomberg Earnings reports. The business had revenue of $22.31 million for the quarter, compared to analyst estimates of $21.53 million. Intersect ENT had a negative net margin of 19.81% and a negative return on equity of 16.02%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.22) earnings per share.
Intersect ENT (XENT) traded up $0.65 during trading hours on Friday, hitting $28.95. 394,084 shares of the company’s stock traded hands, compared to its average volume of 196,048.
In other news, COO Richard E. Kaufman sold 22,425 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lisa D. Earnhardt sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $30.79, for a total transaction of $615,800.00. Following the transaction, the insider now directly owns 525,868 shares of the company’s stock, valued at $16,191,475.72. The disclosure for this sale can be found here. Insiders sold a total of 121,730 shares of company stock worth $3,642,747 over the last 90 days. Company insiders own 13.70% of the company’s stock.
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XENT has been the topic of a number of research reports. BidaskClub lowered shares of Intersect ENT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Canaccord Genuity reissued a “buy” rating and issued a $32.00 price objective on shares of Intersect ENT in a research report on Wednesday, August 2nd. 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. Zacks Investment Research raised shares of Intersect ENT from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Thursday, October 5th. Finally, Bank of America Corporation upped their price target 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. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $29.00.
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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