$24.12 Million in Sales Expected for Intersect ENT Inc (XENT) This Quarter

Brokerages expect Intersect ENT Inc (NASDAQ:XENT) to report $24.12 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Intersect ENT’s earnings, with the lowest sales estimate coming in at $24.00 million and the highest estimate coming in at $24.30 million. Intersect ENT reported sales of $22.31 million during the same quarter last year, which would suggest a positive year over year growth rate of 8.1%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 1st.

On average, analysts expect that Intersect ENT will report full year sales of $107.02 million for the current fiscal year, with estimates ranging from $106.01 million to $107.58 million. For the next financial year, analysts anticipate that the business will post sales of $132.57 million per share, with estimates ranging from $128.50 million to $143.18 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Intersect ENT.

Intersect ENT (NASDAQ:XENT) last released its quarterly earnings results on Wednesday, August 1st. The medical equipment provider reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.03. Intersect ENT had a negative net margin of 17.22% and a negative return on equity of 15.01%. The company had revenue of $26.30 million during the quarter, compared to analysts’ expectations of $28.15 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year.

Several equities research analysts recently weighed in on the stock. BidaskClub cut shares of Intersect ENT from a “hold” rating to a “sell” rating in a research note on Thursday, September 13th. BTIG Research reiterated a “hold” rating on shares of Intersect ENT in a research note on Thursday, August 2nd. ValuEngine cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Canaccord Genuity reiterated a “buy” rating on shares of Intersect ENT in a research note on Wednesday, August 1st. Finally, Piper Jaffray Companies reduced their target price on shares of Intersect ENT from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, August 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $40.33.

In other Intersect ENT news, Director Dana G. Jr. Mead purchased 3,811 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was purchased at an average price of $26.22 per share, with a total value of $99,924.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lisa D. Earnhardt sold 20,000 shares of the stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $29.14, for a total transaction of $582,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,833 shares of company stock valued at $2,390,870. 5.90% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Northern Trust Corp raised its position in Intersect ENT by 10.7% in the second quarter. Northern Trust Corp now owns 392,794 shares of the medical equipment provider’s stock worth $14,710,000 after purchasing an additional 37,818 shares in the last quarter. Waddell & Reed Financial Inc. raised its position in Intersect ENT by 1.6% in the second quarter. Waddell & Reed Financial Inc. now owns 169,500 shares of the medical equipment provider’s stock worth $6,348,000 after purchasing an additional 2,600 shares in the last quarter. MetLife Investment Advisors LLC raised its position in Intersect ENT by 22.2% in the second quarter. MetLife Investment Advisors LLC now owns 13,971 shares of the medical equipment provider’s stock worth $523,000 after purchasing an additional 2,537 shares in the last quarter. First Light Asset Management LLC raised its position in Intersect ENT by 20.4% in the second quarter. First Light Asset Management LLC now owns 227,883 shares of the medical equipment provider’s stock worth $8,534,000 after purchasing an additional 38,652 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in Intersect ENT by 322.1% in the second quarter. Cubist Systematic Strategies LLC now owns 12,519 shares of the medical equipment provider’s stock worth $469,000 after purchasing an additional 9,553 shares in the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ XENT traded up $0.45 during mid-day trading on Tuesday, hitting $29.60. The company had a trading volume of 412,723 shares, compared to its average volume of 212,552. Intersect ENT has a 12 month low of $25.15 and a 12 month high of $42.95. The stock has a market cap of $901.47 million, a PE ratio of -52.86 and a beta of 0.56.

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. It 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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Earnings History and Estimates for Intersect ENT (NASDAQ:XENT)

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