Intersect ENT, Inc. (XENT) Expected to Announce Quarterly Sales of $21.52 Million
Wall Street analysts expect that Intersect ENT, Inc. (NASDAQ:XENT) will announce $21.52 million in sales for the current quarter, according to Zacks. Ten analysts have provided estimates for Intersect ENT’s earnings, with the lowest sales estimate coming in at $21.17 million and the highest estimate coming in at $22.20 million. Intersect ENT posted sales of $18.47 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.5%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, November 2nd.
On average, analysts expect that Intersect ENT will report full year sales of $21.52 million for the current fiscal year, with estimates ranging from $91.70 million to $94.50 million. For the next fiscal year, analysts expect that the company will post sales of $112.05 million per share, with estimates ranging from $106.02 million to $120.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Intersect ENT.
Intersect ENT (NASDAQ:XENT) last issued its earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.11. The company had revenue of $24.00 million during the quarter, compared to analysts’ expectations of $22.62 million. Intersect ENT had a negative net margin of 22.94% and a negative return on equity of 17.60%. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the company posted ($0.21) earnings per share.
XENT has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Intersect ENT from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub downgraded shares of Intersect ENT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Northland Securities reiterated a “hold” rating and issued a $25.00 target price on shares of Intersect ENT in a report on Wednesday, August 2nd. Deutsche Bank AG set a $31.00 target price on shares of Intersect ENT and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $32.00 target price on shares of Intersect ENT in a report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $27.70.
Intersect ENT (XENT) traded down 1.0343% during mid-day trading on Monday, hitting $30.2835. 153,262 shares of the stock traded hands. The firm’s market cap is $883.95 million. Intersect ENT has a 12-month low of $7.65 and a 12-month high of $33.25. The stock has a 50 day moving average price of $30.07 and a 200 day moving average price of $26.55.
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In related news, COO Richard E. Kaufman sold 12,500 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $28.25, for a total transaction of $353,125.00. Following the completion of the transaction, the chief operating officer now directly owns 169,821 shares in the company, valued at approximately $4,797,443.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jeryl L. Hilleman sold 12,833 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $31.05, for a total transaction of $398,464.65. Following the transaction, the chief financial officer now owns 27,833 shares of the company’s stock, valued at $864,214.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,063 shares of company stock valued at $4,368,029. Corporate insiders own 13.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in XENT. FMR LLC raised its stake 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 buying an additional 1,056,389 shares in the last quarter. Alliancebernstein L.P. raised its stake 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 buying an additional 898,785 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Intersect ENT in the 2nd quarter valued at $9,384,000. EAM Investors LLC acquired a new position in shares of Intersect ENT in the 2nd quarter valued at $4,542,000. Finally, State Street Corp raised its stake in shares of Intersect ENT by 33.6% in the 2nd 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 in the last quarter. Institutional investors own 83.12% 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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