Intersect ENT Inc Forecasted to Earn FY2018 Earnings of ($0.46) Per Share (XENT)
Intersect ENT Inc (NASDAQ:XENT) – Research analysts at William Blair lifted their FY2018 earnings estimates for shares of Intersect ENT in a research note issued to investors on Monday. William Blair analyst K. Krum now expects that the medical equipment provider will post earnings per share of ($0.46) for the year, up from their prior forecast of ($0.47).
A number of other research firms have also recently commented on XENT. Northland Securities reiterated a “hold” rating and set a $25.00 price target on shares of Intersect ENT in a report on Friday, November 3rd. BidaskClub cut shares of Intersect ENT from a “hold” rating to a “sell” rating in a report on Wednesday, December 20th. JPMorgan Chase & Co. upgraded shares of Intersect ENT from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 2nd. Zacks Investment Research cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, Canaccord Genuity restated a “buy” rating and issued a $36.00 target price on shares of Intersect ENT in a report on Monday, December 11th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $33.38.
Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. Intersect ENT had a negative net margin of 19.81% and a negative return on equity of 15.96%. The firm had revenue of $22.31 million for the quarter, compared to analysts’ expectations of $21.53 million. During the same quarter in the prior year, the company posted ($0.22) earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis.
In other Intersect ENT news, insider Lisa D. Earnhardt sold 20,000 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $28.37, for a total value of $567,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeryl L. Hilleman sold 12,833 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $27.78, for a total transaction of $356,500.74. Following the completion of the transaction, the chief financial officer now owns 27,833 shares in the company, valued at $773,200.74. The disclosure for this sale can be found here. Insiders sold 114,051 shares of company stock worth $3,453,543 in the last 90 days. 13.70% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its position in Intersect ENT by 3.8% in the second quarter. Legal & General Group Plc now owns 6,939 shares of the medical equipment provider’s stock worth $193,000 after acquiring an additional 255 shares during the period. Voya Investment Management LLC raised its position in Intersect ENT by 9.7% in the second quarter. Voya Investment Management LLC now owns 12,724 shares of the medical equipment provider’s stock worth $356,000 after acquiring an additional 1,128 shares during the period. Rhumbline Advisers raised its position in Intersect ENT by 5.9% in the second quarter. Rhumbline Advisers now owns 29,396 shares of the medical equipment provider’s stock worth $822,000 after acquiring an additional 1,625 shares during the period. EAM Investors LLC raised its position in Intersect ENT by 1.1% in the third quarter. EAM Investors LLC now owns 164,267 shares of the medical equipment provider’s stock worth $5,117,000 after acquiring an additional 1,776 shares during the period. Finally, Nationwide Fund Advisors raised its position in shares of Intersect ENT by 4.4% during the 3rd quarter. Nationwide Fund Advisors now owns 56,901 shares of the medical equipment provider’s stock valued at $1,772,000 after purchasing an additional 2,377 shares during the period. Institutional investors and hedge funds own 86.31% of the company’s stock.
About Intersect ENT
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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