Zacks: Analysts Expect Intersect ENT, Inc. (XENT) Will Announce Quarterly Sales of $22.65 Million
Wall Street analysts predict that Intersect ENT, Inc. (NASDAQ:XENT) will report $22.65 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Intersect ENT’s earnings, with the highest sales estimate coming in at $23.23 million and the lowest estimate coming in at $22.38 million. Intersect ENT posted sales of $19.32 million during the same quarter last year, which suggests a positive year over year growth rate of 17.2%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, August 1st.
According to Zacks, analysts expect that Intersect ENT will report full year sales of $22.65 million for the current financial year, with estimates ranging from $88.64 million to $92.18 million. For the next year, analysts expect that the company will post sales of $109.53 million per share, with estimates ranging from $101.99 million to $115.47 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Intersect ENT.
Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings data on Tuesday, May 2nd. The medical equipment provider reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.02. Intersect ENT had a negative return on equity of 20.49% and a negative net margin of 28.71%. The business had revenue of $20.47 million during the quarter, compared to analyst estimates of $19.39 million.
Several brokerages have commented on XENT. William Blair reissued an “outperform” rating on shares of Intersect ENT in a research report on Wednesday, May 10th. Zacks Investment Research cut shares of Intersect ENT from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Northland Securities cut shares of Intersect ENT from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 31st. Wedbush boosted their price target on shares of Intersect ENT from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 3rd. Finally, ValuEngine raised shares of Intersect ENT from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $18.60.
In other news, CFO Jeryl L. Hilleman sold 12,835 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $27.18, for a total value of $348,855.30. Following the sale, the chief financial officer now directly owns 27,835 shares of the company’s stock, valued at approximately $756,555.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 $13,807,946.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,835 shares of company stock worth $2,368,455. 13.70% of the stock is owned by insiders.
Several large investors have recently modified their holdings of XENT. Teachers Advisors LLC boosted its stake in shares of 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. American International Group Inc. boosted its stake in shares of Intersect ENT by 7.1% in the first quarter. American International Group Inc. now owns 15,704 shares of the medical equipment provider’s stock worth $269,000 after buying an additional 1,037 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Intersect ENT by 8.8% in the first quarter. Nationwide Fund Advisors now owns 38,698 shares of the medical equipment provider’s stock worth $664,000 after buying an additional 3,134 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Intersect ENT by 11.4% in the first quarter. Russell Investments Group Ltd. now owns 35,124 shares of the medical equipment provider’s stock worth $602,000 after buying an additional 3,594 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Intersect ENT by 3.9% in the first quarter. Bank of America Corp DE now owns 103,275 shares of the medical equipment provider’s stock worth $1,771,000 after buying an additional 3,892 shares during the last quarter. 76.12% of the stock is currently owned by institutional investors.
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Shares of Intersect ENT (XENT) remained flat at $28.65 during mid-day trading on Thursday. The company’s stock had a trading volume of 56,217 shares. The firm has a 50 day moving average price of $27.12 and a 200-day moving average price of $19.21. The firm’s market capitalization is $824.32 million. Intersect ENT has a 52-week low of $7.65 and a 52-week high of $29.55.
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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