Intersect ENT (XENT) Stock Price Up -1.4%

Shares of Intersect ENT Inc (NASDAQ:XENT) rose 1.4% on Tuesday . The stock traded as high as $35.10 and last traded at $32.40. Approximately 216,400 shares changed hands during trading, a decline of 25% from the average daily volume of 290,252 shares. The stock had previously closed at $32.85.

XENT has been the topic of several recent analyst reports. Zacks Investment Research raised Intersect ENT from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Thursday, October 5th. Canaccord Genuity lifted their target price on Intersect ENT from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, September 13th. Bank of America lifted their target price on Intersect ENT from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, September 11th. Guggenheim reaffirmed a “buy” rating and set a $41.00 target price on shares of Intersect ENT in a research note on Friday, December 15th. Finally, BidaskClub downgraded Intersect ENT from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $33.38.

Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.05. Intersect ENT had a negative return on equity of 15.96% and a negative net margin of 19.81%. The company had revenue of $22.31 million for the quarter, compared to the consensus estimate of $21.53 million. During the same quarter in the previous year, the business earned ($0.22) EPS. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. sell-side analysts forecast that Intersect ENT Inc will post -0.63 EPS for the current fiscal year.

In other news, insider Lisa D. Earnhardt sold 10,685 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $31.87, for a total transaction of $340,530.95. Following the sale, the insider now directly owns 487,868 shares of the company’s stock, valued at $15,548,353.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David Aaron Lehman sold 36,000 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $32.75, for a total value of $1,179,000.00. Following the sale, the general counsel now directly owns 45,000 shares in the company, valued at $1,473,750. The disclosure for this sale can be found here. Insiders sold a total of 114,051 shares of company stock worth $3,453,543 in the last three months. Company insiders own 13.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Legal & General Group Plc raised its position in shares of 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 purchasing an additional 255 shares during the period. Voya Investment Management LLC raised its position in shares of Intersect ENT by 9.7% during the second quarter. Voya Investment Management LLC now owns 12,724 shares of the medical equipment provider’s stock worth $356,000 after purchasing an additional 1,128 shares during the period. Rhumbline Advisers raised its position in shares of Intersect ENT by 5.9% during the second quarter. Rhumbline Advisers now owns 29,396 shares of the medical equipment provider’s stock worth $822,000 after purchasing an additional 1,625 shares during the period. EAM Investors LLC raised its position in shares of Intersect ENT by 1.1% during the third quarter. EAM Investors LLC now owns 164,267 shares of the medical equipment provider’s stock worth $5,117,000 after purchasing an additional 1,776 shares during the period. Finally, Nationwide Fund Advisors raised its position in shares of Intersect ENT by 4.4% during the third quarter. Nationwide Fund Advisors now owns 56,901 shares of the medical equipment provider’s stock worth $1,772,000 after purchasing an additional 2,377 shares during the period. 86.31% of the stock is currently owned by institutional investors.

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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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