Intersect ENT (NASDAQ:XENT) Reaches New 1-Year Low at $19.63

Intersect ENT Inc (NASDAQ:XENT)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $19.63 and last traded at $19.90, with a volume of 3771 shares changing hands. The stock had previously closed at $20.01.

XENT has been the topic of a number of research analyst reports. Leerink Swann downgraded Adaptimmune Therapeutics from an “outperform” rating to a “market perform” rating and set a $4.15 price target on the stock. in a report on Tuesday, May 7th. Berenberg Bank restated a “buy” rating and set a GBX 620 ($8.10) price target on shares of in a report on Friday, June 21st. ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, July 8th. Zacks Investment Research downgraded Inflarx from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Svb Leerink downgraded Intersect ENT from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $41.00 to $29.00 in a report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Intersect ENT has an average rating of “Hold” and an average price target of $30.39.

The firm has a market cap of $625.24 million, a P/E ratio of -26.46 and a beta of 0.80. The stock’s fifty day moving average price is $21.88.

Intersect ENT (NASDAQ:XENT) last posted its earnings results on Monday, May 6th. The medical equipment provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). Intersect ENT had a negative return on equity of 22.90% and a negative net margin of 24.99%. The firm had revenue of $26.70 million for the quarter, compared to analysts’ expectations of $26.34 million. During the same quarter last year, the company posted ($0.21) EPS. The firm’s revenue was up 8.1% on a year-over-year basis. As a group, analysts forecast that Intersect ENT Inc will post -1.34 EPS for the current fiscal year.

In other Intersect ENT news, General Counsel David Aaron Lehman sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $33.02, for a total transaction of $297,180.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lisa D. Earnhardt sold 9,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $25.59, for a total value of $243,105.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,200 shares of company stock worth $695,518 in the last quarter. Company insiders own 6.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Quantamental Technologies LLC grew its holdings in shares of Intersect ENT by 211.0% during the 1st quarter. Quantamental Technologies LLC now owns 1,950 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 1,323 shares during the period. Legal & General Group Plc grew its holdings in shares of Intersect ENT by 14.8% during the 4th quarter. Legal & General Group Plc now owns 5,353 shares of the medical equipment provider’s stock worth $151,000 after acquiring an additional 690 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Intersect ENT by 62,220.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,232 shares of the medical equipment provider’s stock worth $200,000 after acquiring an additional 6,222 shares during the period. NumerixS Investment Technologies Inc grew its holdings in shares of Intersect ENT by 190.9% during the 1st quarter. NumerixS Investment Technologies Inc now owns 6,400 shares of the medical equipment provider’s stock worth $200,000 after acquiring an additional 4,200 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in shares of Intersect ENT by 15.0% during the 1st quarter. Meeder Asset Management Inc. now owns 6,443 shares of the medical equipment provider’s stock worth $206,000 after acquiring an additional 839 shares during the period. Hedge funds and other institutional investors own 91.95% of the company’s stock.

About Intersect ENT (NASDAQ:XENT)

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. The company 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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