Intersect ENT, Inc. (XENT) Hits New 12-Month High at $32.30
Intersect ENT, Inc. (NASDAQ:XENT)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $32.30 and last traded at $32.30, with a volume of 107,119 shares. The stock had previously closed at $31.75.
A number of equities analysts recently issued reports on XENT shares. Zacks Investment Research lowered shares of Intersect ENT from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. ValuEngine raised shares of Intersect ENT from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Northland Securities lowered shares of Intersect ENT from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 31st. BidaskClub lowered shares of Intersect ENT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Deutsche Bank AG set a $31.00 target price on shares of Intersect ENT and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Intersect ENT currently has a consensus rating of “Buy” and a consensus price target of $24.88.
The company’s 50 day moving average is $29.87 and its 200 day moving average is $23.38. The stock’s market cap is $928.21 million.
Intersect ENT (NASDAQ:XENT) last issued its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.11. Intersect ENT had a negative return on equity of 17.60% and a negative net margin of 22.94%. The company had revenue of $24 million for the quarter, compared to analysts’ expectations of $22.62 million. During the same quarter last year, the business earned ($0.21) earnings per share. Intersect ENT’s revenue was up 24.4% on a year-over-year basis. Analysts expect that Intersect ENT, Inc. will post ($0.61) earnings per share for the current fiscal year.
In related news, CFO Jeryl L. Hilleman sold 12,833 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $31.05, for a total value of $398,464.65. Following the sale, the chief financial officer now directly owns 27,833 shares of the company’s stock, valued at $864,214.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lisa D. Earnhardt sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $26.10, for a total value of $522,000.00. Following the completion of the sale, the insider now directly owns 583,493 shares in the company, valued at $15,229,167.30. The disclosure for this sale can be found here. Insiders sold 133,426 shares of company stock worth $3,868,685 in the last 90 days. 13.70% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in XENT. FMR LLC boosted its stake in Intersect ENT by 247.7% in the second quarter. FMR LLC now owns 1,482,909 shares of the medical equipment provider’s stock valued at $41,447,000 after buying an additional 1,056,389 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Intersect ENT by 2,746.9% in the second quarter. Alliancebernstein L.P. now owns 931,505 shares of the medical equipment provider’s stock valued at $26,036,000 after buying an additional 898,785 shares in the last quarter. Paulson & CO. Inc. acquired a new stake in Intersect ENT in the first quarter valued at about $10,978,000. Lord Abbett & CO. LLC acquired a new stake in Intersect ENT in the second quarter valued at about $9,384,000. Finally, Marshall Wace LLP acquired a new stake in Intersect ENT in the first quarter valued at about $5,129,000. 83.12% of the stock is currently owned by institutional investors and hedge funds.
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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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