Insider Selling: Intersect ENT, Inc. (XENT) Insider Sells 20,000 Shares of Stock
Intersect ENT, Inc. (NASDAQ:XENT) insider Lisa D. Earnhardt sold 20,000 shares of Intersect ENT stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $30.79, for a total value of $615,800.00. Following the transaction, the insider now directly owns 525,868 shares of the company’s stock, valued at approximately $16,191,475.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Intersect ENT, Inc. (XENT) traded down 2.09% on Thursday, reaching $30.50. 161,127 shares of the company traded hands. The firm has a 50-day moving average of $28.68 and a 200-day moving average of $21.49. The company’s market capitalization is $890.26 million. Intersect ENT, Inc. has a 52-week low of $7.65 and a 52-week high of $31.90.
Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.11. The firm had revenue of $24 million during the quarter, compared to the consensus estimate of $22.62 million. Intersect ENT had a negative return on equity of 17.60% and a negative net margin of 22.94%. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.21) EPS. On average, equities research analysts forecast that Intersect ENT, Inc. will post ($0.61) earnings per share for the current fiscal year.
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A number of large investors have recently made changes to their positions in the company. ClariVest Asset Management LLC purchased a new stake in Intersect ENT during the first quarter worth $148,000. Legal & General Group Plc increased its stake in Intersect ENT by 3.8% in the second quarter. Legal & General Group Plc now owns 6,939 shares of the medical equipment provider’s stock worth $193,000 after buying an additional 255 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in Intersect ENT by 109.1% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 11,500 shares of the medical equipment provider’s stock worth $196,000 after buying an additional 6,000 shares during the period. Moors & Cabot Inc. purchased a new stake in Intersect ENT during the second quarter worth $205,000. Finally, Prudential Financial Inc. purchased a new stake in Intersect ENT during the second quarter worth $229,000. 72.78% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on XENT shares. Zacks Investment Research downgraded Intersect ENT from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. William Blair reaffirmed an “outperform” rating on shares of Intersect ENT in a research note on Wednesday, May 10th. Northland Securities lifted their price target on Intersect ENT from $17.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, May 4th. Canaccord Genuity reaffirmed a “buy” rating on shares of Intersect ENT in a research note on Wednesday, May 3rd. Finally, Wedbush lifted their price target on Intersect ENT from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 3rd. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $23.13.
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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