Equities research analysts expect Intersect ENT Inc (NASDAQ:XENT) to report $29.45 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Intersect ENT’s earnings, with the lowest sales estimate coming in at $29.37 million and the highest estimate coming in at $29.57 million. Intersect ENT reported sales of $24.23 million in the same quarter last year, which indicates a positive year-over-year growth rate of 21.5%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 27th.
On average, analysts expect that Intersect ENT will report full-year sales of $29.45 million for the current fiscal year, with estimates ranging from $96.14 million to $96.34 million. For the next fiscal year, analysts expect that the company will post sales of $114.56 million per share, with estimates ranging from $112.70 million to $117.69 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Intersect ENT.
A number of research analysts have recently commented on the stock. Guggenheim reaffirmed a “buy” rating and set a $41.00 price objective on shares of Intersect ENT in a research report on Friday, December 15th. BidaskClub raised shares of Intersect ENT from a “hold” rating to a “buy” rating in a research report on Monday. BTIG Research reaffirmed a “hold” rating on shares of Intersect ENT in a research report on Tuesday, November 7th. Zacks Investment Research raised shares of Intersect ENT from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $36.00 price objective on shares of Intersect ENT in a research report on Monday, December 11th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $33.38.
In related news, COO Richard E. Kaufman sold 958 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $37.21, for a total value of $35,647.18. Following the completion of the transaction, the chief operating officer now owns 87,512 shares of the company’s stock, valued at $3,256,321.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederic H. Moll sold 6,700 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $28.77, for a total transaction of $192,759.00. Following the completion of the transaction, the director now directly owns 247,124 shares of the company’s stock, valued at approximately $7,109,757.48. The disclosure for this sale can be found here. Insiders sold 166,177 shares of company stock valued at $5,382,966 in the last three months. Company insiders own 13.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of XENT. Legal & General Group Plc grew its stake in Intersect ENT by 3.8% during the second 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. Prudential Financial Inc. bought a new stake in Intersect ENT during the second quarter worth about $229,000. Swiss National Bank grew its stake in Intersect ENT by 23.7% during the second quarter. Swiss National Bank now owns 42,800 shares of the medical equipment provider’s stock worth $1,196,000 after buying an additional 8,200 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Intersect ENT by 620.7% during the second quarter. JPMorgan Chase & Co. now owns 75,632 shares of the medical equipment provider’s stock worth $2,114,000 after buying an additional 65,138 shares during the last quarter. Finally, Teachers Advisors LLC grew its stake in Intersect ENT by 7.5% during the second quarter. Teachers Advisors LLC now owns 66,492 shares of the medical equipment provider’s stock worth $1,858,000 after buying an additional 4,634 shares during the last quarter. 87.69% of the stock is currently owned by hedge funds and other institutional investors.
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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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