Intersect ENT, Inc. (XENT) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS
Intersect ENT, Inc. (NASDAQ:XENT) announced its quarterly earnings results on Thursday. The medical equipment provider reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.05, Bloomberg Earnings reports. The business had revenue of $22.31 million for the quarter, compared to analyst estimates of $21.53 million. Intersect ENT had a negative return on equity of 16.02% and a negative net margin of 19.81%. Intersect ENT’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.22) EPS.
Shares of Intersect ENT (NASDAQ XENT) traded up $0.15 on Friday, hitting $28.45. The stock had a trading volume of 239,722 shares, compared to its average volume of 196,048.
XENT has been the topic of a number of recent analyst reports. Bank of America Corporation boosted their price objective on Intersect ENT from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, September 11th. Zacks Investment Research lowered Intersect ENT from a “buy” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity boosted their price objective on Intersect ENT from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, September 13th. BidaskClub lowered Intersect ENT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $35.00 price objective on shares of Intersect ENT in a research note on Tuesday, August 22nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $29.00.
In other news, COO Richard E. Kaufman sold 22,425 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $30.22, for a total transaction of $677,683.50. Following the completion of the sale, the chief operating officer now owns 149,821 shares of the company’s stock, valued at $4,527,590.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lisa D. Earnhardt sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $30.79, for a total transaction of $615,800.00. Following the sale, the insider now directly owns 525,868 shares of the company’s stock, valued at approximately $16,191,475.72. The disclosure for this sale can be found here. Insiders have sold 121,730 shares of company stock valued at $3,642,747 in the last three months. Corporate insiders own 13.70% 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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