Intersect ENT Inc (XENT) Expected to Post Quarterly Sales of $23.68 Million

Wall Street analysts predict that Intersect ENT Inc (NASDAQ:XENT) will announce sales of $23.68 million for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Intersect ENT’s earnings. The lowest sales estimate is $23.48 million and the highest is $24.12 million. Intersect ENT reported sales of $20.47 million during the same quarter last year, which would suggest a positive year over year growth rate of 15.7%. The business is scheduled to issue its next earnings report on Tuesday, May 1st.

According to Zacks, analysts expect that Intersect ENT will report full year sales of $23.68 million for the current financial year, with estimates ranging from $112.70 million to $118.70 million. For the next fiscal year, analysts expect that the firm will report sales of $146.96 million per share, with estimates ranging from $137.30 million to $160.97 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Intersect ENT.

Intersect ENT (NASDAQ:XENT) last announced its earnings results on Tuesday, February 27th. The medical equipment provider reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. The business had revenue of $29.53 million during the quarter, compared to analyst estimates of $29.45 million. Intersect ENT had a negative net margin of 16.99% and a negative return on equity of 14.40%.

XENT has been the subject of a number of recent research reports. JPMorgan Chase raised shares of Intersect ENT from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 2nd. BidaskClub downgraded shares of Intersect ENT from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. Canaccord Genuity reissued a “buy” rating and set a $36.00 price objective on shares of Intersect ENT in a research report on Monday, December 11th. 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, Guggenheim reissued a “buy” rating on shares of Intersect ENT in a research report on Thursday, March 1st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Intersect ENT has a consensus rating of “Buy” and a consensus price target of $33.38.

In related news, COO Richard E. Kaufman sold 958 shares of the company’s stock in a transaction on 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 approximately $3,256,321.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Richard E. Kaufman sold 50,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $33.33, for a total transaction of $1,666,500.00. Following the completion of the transaction, the chief operating officer now directly owns 107,470 shares of the company’s stock, valued at approximately $3,581,975.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,625 shares of company stock valued at $4,894,507. Insiders own 13.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of XENT. Jennison Associates LLC boosted its holdings in Intersect ENT by 22.4% in the 4th quarter. Jennison Associates LLC now owns 2,036,202 shares of the medical equipment provider’s stock worth $65,973,000 after buying an additional 372,320 shares during the period. Teachers Advisors LLC boosted its holdings in Intersect ENT by 333.9% in the 4th quarter. Teachers Advisors LLC now owns 288,732 shares of the medical equipment provider’s stock worth $9,355,000 after buying an additional 222,195 shares during the period. Alliancebernstein L.P. boosted its holdings in Intersect ENT by 12.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,466,730 shares of the medical equipment provider’s stock worth $47,522,000 after buying an additional 161,723 shares during the period. OxFORD Asset Management LLP bought a new position in shares of Intersect ENT during the 3rd quarter valued at about $2,371,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Intersect ENT by 27.7% during the 4th quarter. Renaissance Technologies LLC now owns 317,600 shares of the medical equipment provider’s stock valued at $10,290,000 after purchasing an additional 68,803 shares during the last quarter. 84.49% of the stock is owned by institutional investors.

XENT traded down $1.30 during mid-day trading on Friday, reaching $38.00. 328,537 shares of the company traded hands, compared to its average volume of 255,909. Intersect ENT has a 52-week low of $15.90 and a 52-week high of $40.00. The firm has a market cap of $1,171.33, a PE ratio of -67.63 and a beta of 0.75.

ILLEGAL ACTIVITY WARNING: This report was published by Enterprise Leader and is owned by of Enterprise Leader. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright legislation. The legal version of this report can be viewed at https://theenterpriseleader.com/2018/04/02/intersect-ent-inc-xent-expected-to-post-quarterly-sales-of-23-68-million.html.

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.

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

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

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