Credit Suisse AG Increases Position in Intersect ENT, Inc. (NASDAQ:XENT)
Credit Suisse AG grew its stake in shares of Intersect ENT, Inc. (NASDAQ:XENT) by 2.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 34,563 shares of the medical equipment provider’s stock after purchasing an additional 748 shares during the period. Credit Suisse AG’s holdings in Intersect ENT were worth $791,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XENT. Great West Life Assurance Co. Can grew its holdings in Intersect ENT by 121.9% in the third quarter. Great West Life Assurance Co. Can now owns 4,705 shares of the medical equipment provider’s stock valued at $58,000 after purchasing an additional 2,585 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of Intersect ENT during the 3rd quarter worth approximately $183,000. Landscape Capital Management L.L.C. acquired a new position in shares of Intersect ENT during the 4th quarter worth approximately $201,000. Trexquant Investment LP purchased a new stake in Intersect ENT in the 4th quarter valued at approximately $251,000. Finally, IndexIQ Advisors LLC grew its holdings in Intersect ENT by 11.5% during the 4th quarter. IndexIQ Advisors LLC now owns 17,675 shares of the medical equipment provider’s stock valued at $405,000 after buying an additional 1,825 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.
A number of analysts recently commented on XENT shares. Piper Sandler lifted their price objective on Intersect ENT from $17.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 15th. SVB Leerink upped their price objective on shares of Intersect ENT from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday, March 16th. Finally, Canaccord Genuity upgraded shares of Intersect ENT from a “hold” rating to a “buy” rating and raised their target price for the stock from $18.00 to $25.00 in a research report on Monday, January 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $23.43.
Intersect ENT (NASDAQ:XENT) last posted its earnings results on Monday, March 8th. The medical equipment provider reported ($0.54) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.22). Intersect ENT had a negative net margin of 71.96% and a negative return on equity of 55.81%. The business had revenue of $28.20 million for the quarter, compared to analyst estimates of $27.83 million. During the same quarter in the previous year, the firm posted ($0.25) EPS. The business’s revenue was down 11.3% compared to the same quarter last year. Analysts predict that Intersect ENT, Inc. will post -1.88 earnings per share for the current year.
Intersect ENT Company Profile
Intersect ENT, Inc operates as an ear, nose, and throat (ENT) medical technology company in the United States. The company offers PROPEL and PROPEL Mini, which are steroid 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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