Zacks: Brokerages Expect Intersect ENT, Inc. (XENT) Will Announce Quarterly Sales of $21.48 Million
Brokerages expect Intersect ENT, Inc. (NASDAQ:XENT) to post $21.48 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Intersect ENT’s earnings. The highest sales estimate is $22.24 million and the lowest is $21.17 million. Intersect ENT reported sales of $18.47 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.3%. The company is expected to report its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Intersect ENT will report full-year sales of $21.48 million for the current fiscal year, with estimates ranging from $91.77 million to $94.51 million. For the next financial year, analysts forecast that the firm will post sales of $112.80 million per share, with estimates ranging from $108.10 million to $120.03 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Intersect ENT.
Intersect ENT (NASDAQ:XENT) last issued its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.11. The firm had revenue of $24.00 million during the quarter, compared to analysts’ expectations of $22.62 million. Intersect ENT had a negative return on equity of 17.60% and a negative net margin of 22.94%. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.21) EPS.
Several research analysts recently commented on the company. BidaskClub cut Intersect ENT from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. TheStreet raised Intersect ENT from a “d” rating to a “c-” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised Intersect ENT from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th. Deutsche Bank AG set a $31.00 target price on Intersect ENT and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, Canaccord Genuity reissued a “buy” rating and set a $32.00 target price on shares of Intersect ENT in a research note on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Intersect ENT currently has an average rating of “Buy” and a consensus target price of $27.11.
Shares of Intersect ENT (NASDAQ:XENT) opened at 30.40 on Friday. The stock’s market capitalization is $887.35 million. The company’s 50 day moving average price is $30.29 and its 200-day moving average price is $23.96. Intersect ENT has a 52 week low of $7.65 and a 52 week high of $33.25.
In other news, insider Lisa D. Earnhardt sold 20,000 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $29.03, for a total value of $580,600.00. Following the completion of the sale, the insider now directly owns 580,868 shares of the company’s stock, valued at approximately $16,862,598.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeryl L. Hilleman sold 12,835 shares of the business’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 completion of the sale, the chief financial officer now directly owns 27,835 shares of the company’s stock, valued at $756,555.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,426 shares of company stock valued at $3,346,685. Insiders own 13.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of Intersect ENT by 0.4% in the 1st quarter. Wellington Management Group LLP now owns 2,921,012 shares of the medical equipment provider’s stock valued at $50,095,000 after purchasing an additional 10,683 shares during the last quarter. FMR LLC lifted its holdings in shares of Intersect ENT by 247.7% in the 2nd quarter. FMR LLC now owns 1,482,909 shares of the medical equipment provider’s stock valued at $41,447,000 after purchasing an additional 1,056,389 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Intersect ENT by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,139,623 shares of the medical equipment provider’s stock valued at $31,853,000 after purchasing an additional 71,750 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Intersect ENT by 2,746.9% in the 2nd quarter. Alliancebernstein L.P. now owns 931,505 shares of the medical equipment provider’s stock valued at $26,036,000 after purchasing an additional 898,785 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Intersect ENT by 49.8% in the 1st quarter. Neuberger Berman Group LLC now owns 884,627 shares of the medical equipment provider’s stock valued at $15,171,000 after purchasing an additional 293,949 shares during the last quarter. 83.12% of the stock is owned by institutional investors and hedge funds.
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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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