Intersect ENT, Inc. (XENT) Rating Lowered to Hold at Zacks Investment Research
Intersect ENT, Inc. (NASDAQ:XENT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Intersect ENT, Inc. is a commercial drug-device company. The Company’s initial products, PROPEL and PROPEL mini, are drug-eluting implants for use in patients with chronic sinusitis. It offers products and therapies for ear, nose, and throat surgeons to improve treatment for their patients with chronic diseases. Intersect ENT, Inc. is headquartered in Menlo Park, California. “
Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Intersect ENT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Canaccord Genuity restated a “buy” rating and set a $32.00 price target on shares of Intersect ENT in a research note on Wednesday, August 2nd. Deutsche Bank AG set a $31.00 price target on shares of Intersect ENT and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Bank of America Corporation boosted their price target on shares of Intersect ENT from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, September 11th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $35.00 price target on shares of Intersect ENT in a research note on Tuesday, August 22nd. Five analysts have rated the stock with a hold rating and eight 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 (NASDAQ:XENT) last released its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.11. The company had revenue of $24.00 million during the quarter, compared to analyst estimates of $22.62 million. Intersect ENT had a negative net margin of 22.94% and a negative return on equity of 17.60%. Intersect ENT’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) EPS. Analysts forecast that Intersect ENT will post ($0.61) earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: This news story was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/11/01/intersect-ent-inc-xent-rating-lowered-to-hold-at-zacks-investment-research.html.
In related news, CFO Jeryl L. Hilleman sold 12,833 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $29.00, for a total value of $372,157.00. Following the transaction, the chief financial officer now directly owns 27,833 shares of the company’s stock, valued at approximately $807,157. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Richard E. Kaufman sold 22,425 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was 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 in the company, valued at $4,527,590.62. The disclosure for this sale can be found here. Insiders sold a total of 134,563 shares of company stock worth $4,014,904 over the last three months. 13.70% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its holdings in shares of Intersect ENT by 3.8% in the 2nd 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 last quarter. Moors & Cabot Inc. purchased a new position in shares of Intersect ENT in the 2nd quarter worth about $205,000. Prudential Financial Inc. purchased a new position in shares of Intersect ENT in the 2nd quarter worth about $229,000. Cubist Systematic Strategies LLC purchased a new position in shares of Intersect ENT in the 2nd quarter worth about $229,000. Finally, HighTower Advisors LLC purchased a new position in shares of Intersect ENT in the 2nd quarter worth about $231,000. 83.08% of the stock is currently owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intersect ENT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intersect ENT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.