Intersect ENT’s (XENT) Hold Rating Reiterated at Northland Securities
Intersect ENT, Inc. (NASDAQ:XENT)‘s stock had its “hold” rating reissued by research analysts at Northland Securities in a note issued to investors on Friday. They presently have a $25.00 price target on the medical equipment provider’s stock.
A number of other research firms have also weighed in on XENT. Canaccord Genuity increased their price target on Intersect ENT from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, September 13th. Piper Jaffray Companies reiterated a “buy” rating and issued a $35.00 price target on shares of Intersect ENT in a research report on Tuesday, August 22nd. Bank of America Corporation increased their price target on Intersect ENT from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, September 11th. Deutsche Bank AG set a $31.00 price target on Intersect ENT and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research lowered Intersect ENT from a “buy” rating to a “hold” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Intersect ENT has a consensus rating of “Buy” and a consensus target price of $29.00.
Intersect ENT (NASDAQ:XENT) last released its quarterly earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. Intersect ENT had a negative return on equity of 17.60% and a negative net margin of 22.94%. The business had revenue of $22.31 million during the quarter, compared to analyst estimates of $21.53 million. During the same quarter last year, the company posted ($0.22) EPS. Intersect ENT’s revenue for the quarter was up 20.8% on a year-over-year basis.
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In other news, insider Lisa D. Earnhardt sold 20,000 shares of Intersect ENT stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $30.79, for a total transaction of $615,800.00. Following the completion of the sale, the insider now directly owns 525,868 shares in the company, valued at approximately $16,191,475.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jeryl L. Hilleman sold 12,833 shares of Intersect ENT stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $31.05, for a total value of $398,464.65. Following the sale, 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. Insiders have sold a total of 121,730 shares of company stock valued at $3,642,747 over the last 90 days. Corporate insiders own 13.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of Intersect ENT by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 6,939 shares of the medical equipment provider’s stock valued at $193,000 after buying an additional 255 shares during the last quarter. Moors & Cabot Inc. acquired a new stake in shares of Intersect ENT during the 2nd quarter valued at about $205,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Intersect ENT during the 2nd quarter valued at about $229,000. Prudential Financial Inc. acquired a new stake in shares of Intersect ENT during the 2nd quarter valued at about $229,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Intersect ENT during the 2nd quarter valued at about $231,000. Institutional investors and hedge funds own 83.08% of the company’s stock.
Intersect ENT Company Profile
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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