Intersect ENT Inc (XENT) Receives Average Rating of “Buy” from Brokerages

Intersect ENT Inc (NASDAQ:XENT) has been given an average recommendation of “Buy” by the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $41.25.

A number of equities analysts have commented on the stock. BidaskClub upgraded shares of Intersect ENT from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 30th. ValuEngine downgraded shares of Intersect ENT from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 16th. BTIG Research restated a “hold” rating on shares of Intersect ENT in a report on Thursday, August 2nd. Finally, Piper Jaffray Companies cut their price objective on shares of Intersect ENT from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, August 1st.

In related news, insider Lisa D. Earnhardt sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $29.14, for a total value of $582,800.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dana G. Jr. Mead acquired 3,811 shares of the stock in a transaction on Monday, August 6th. The stock was bought at an average price of $26.22 per share, for a total transaction of $99,924.42. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 79,833 shares of company stock worth $2,390,870. Corporate insiders own 5.90% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in XENT. Wells Fargo & Company MN raised its stake in shares of Intersect ENT by 38.8% during the 1st quarter. Wells Fargo & Company MN now owns 117,250 shares of the medical equipment provider’s stock worth $4,609,000 after buying an additional 32,767 shares during the period. SG Americas Securities LLC acquired a new position in Intersect ENT in the 1st quarter valued at $132,000. Prudential Financial Inc. raised its stake in Intersect ENT by 20.3% in the 1st quarter. Prudential Financial Inc. now owns 13,761 shares of the medical equipment provider’s stock valued at $541,000 after purchasing an additional 2,320 shares during the last quarter. Swiss National Bank raised its stake in Intersect ENT by 7.0% in the 1st quarter. Swiss National Bank now owns 45,800 shares of the medical equipment provider’s stock valued at $1,800,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Intersect ENT by 4.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 167,363 shares of the medical equipment provider’s stock valued at $6,578,000 after purchasing an additional 6,480 shares during the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

Intersect ENT stock traded up $0.05 during trading hours on Friday, reaching $28.45. The stock had a trading volume of 164,100 shares, compared to its average volume of 305,897. The company has a market capitalization of $884.70 million, a PE ratio of -50.89 and a beta of 0.56. Intersect ENT has a 52 week low of $25.15 and a 52 week high of $42.95.

Intersect ENT (NASDAQ:XENT) last announced its earnings results on Wednesday, August 1st. The medical equipment provider reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.03. The business had revenue of $26.30 million during the quarter, compared to the consensus estimate of $28.15 million. Intersect ENT had a negative net margin of 17.22% and a negative return on equity of 15.01%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) earnings per share. equities research analysts predict that Intersect ENT will post -0.86 EPS for the current year.

About Intersect ENT

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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Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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