BidaskClub Upgrades Intersect ENT (XENT) to Hold

Intersect ENT (NASDAQ:XENT) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, May 7th, BidAskClub reports.

XENT has been the subject of several other research reports. BTIG Research reiterated a “hold” rating on shares of Intersect ENT in a research note on Tuesday, February 26th. Canaccord Genuity boosted their target price on shares of Intersect ENT from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, February 26th. ValuEngine lowered shares of Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Finally, Zacks Investment Research lowered shares of Intersect ENT from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $30.96.

Shares of XENT traded down $0.09 during midday trading on Tuesday, reaching $24.27. The stock had a trading volume of 203,900 shares, compared to its average volume of 377,398. Intersect ENT has a one year low of $24.08 and a one year high of $42.95. The company has a market cap of $764.06 million, a PE ratio of -31.93 and a beta of 0.62.

Intersect ENT (NASDAQ:XENT) last posted its earnings results on Monday, May 6th. The medical equipment provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). Intersect ENT had a negative return on equity of 22.90% and a negative net margin of 24.99%. The company had revenue of $26.70 million for the quarter, compared to analyst estimates of $26.34 million. During the same quarter in the prior year, the business posted ($0.21) EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, analysts expect that Intersect ENT will post -1.32 earnings per share for the current year.

In other news, CEO Lisa D. Earnhardt sold 9,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $25.59, for a total value of $243,105.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert H. Binney, Jr. sold 3,495 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $31.98, for a total transaction of $111,770.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,096 shares of company stock worth $3,658,625. Corporate insiders own 5.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its position in Intersect ENT by 1,863.8% during the first quarter. FMR LLC now owns 632,451 shares of the medical equipment provider’s stock valued at $20,334,000 after acquiring an additional 600,246 shares during the last quarter. Perceptive Advisors LLC bought a new position in Intersect ENT during the first quarter valued at approximately $2,251,000. Morgan Stanley grew its position in Intersect ENT by 39.9% during the first quarter. Morgan Stanley now owns 620,382 shares of the medical equipment provider’s stock valued at $19,944,000 after acquiring an additional 176,901 shares during the last quarter. Man Group plc grew its holdings in shares of Intersect ENT by 20.6% in the first quarter. Man Group plc now owns 399,800 shares of the medical equipment provider’s stock worth $12,854,000 after purchasing an additional 68,313 shares during the last quarter. Finally, SEI Investments Co grew its holdings in shares of Intersect ENT by 785.5% in the first quarter. SEI Investments Co now owns 15,745 shares of the medical equipment provider’s stock worth $433,000 after purchasing an additional 13,967 shares during the last quarter. Institutional investors own 92.00% of the company’s stock.

Intersect ENT Company Profile

Intersect ENT, Inc, a drug delivery company, researches and develops products for the treatment of patients with ear, nose, and throat conditions in the United States. The company offers PROPEL and PROPEL mini drug releasing implants for patients undergoing sinus surgery to treat chronic sinusitis; and PROPEL Contour, a steroid releasing implant to frontal and maxillary sinus ostia, or openings, of the dependent sinuses.

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Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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