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.
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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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