Intersect ENT Inc (XENT) Expected to Post Quarterly Sales of $29.45 Million

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.

Intersect ENT (NASDAQ:XENT) opened at $36.60 on Wednesday. Intersect ENT has a 52-week low of $12.50 and a 52-week high of $37.90.

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.

TRADEMARK VIOLATION WARNING: This report was posted by American Banking News and is the property of of American Banking News. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://www.americanbankingnews.com/2018/02/07/intersect-ent-inc-xent-expected-to-post-quarterly-sales-of-29-45-million.html.

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.

Get a free copy of the Zacks research report on Intersect ENT (XENT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Intersect ENT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intersect ENT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply