Intersect ENT (XENT) Downgraded by BidaskClub

BidaskClub lowered shares of Intersect ENT (NASDAQ:XENT) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Several other equities analysts also recently weighed in on the stock. BTIG Research reissued a hold rating on shares of Intersect ENT in a research note on Tuesday, November 7th. Northland Securities reissued a hold rating and issued a $25.00 price target on shares of Intersect ENT in a research note on Friday, November 3rd. Zacks Investment Research downgraded shares of Intersect ENT from a buy rating to a hold rating in a research note on Wednesday, November 1st. Canaccord Genuity raised their price target on shares of Intersect ENT from $32.00 to $37.00 and gave the stock a buy rating in a research note on Wednesday, September 13th. Finally, Bank of America raised their price target on shares of Intersect ENT from $33.00 to $40.00 and gave the stock a buy rating in a research note on Monday, September 11th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $32.43.

Shares of Intersect ENT (NASDAQ:XENT) traded down $1.32 during midday trading on Wednesday, hitting $28.60. 352,405 shares of the stock traded hands, compared to its average volume of 269,609. Intersect ENT has a 1-year low of $10.82 and a 1-year high of $33.25.

Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. The firm had revenue of $22.31 million for the quarter, compared to the consensus estimate of $21.53 million. Intersect ENT had a negative net margin of 19.81% and a negative return on equity of 15.96%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the firm posted ($0.22) earnings per share. sell-side analysts forecast that Intersect ENT will post -0.63 EPS for the current year.

In other Intersect ENT news, CFO Jeryl L. Hilleman sold 12,833 shares of Intersect ENT stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $27.78, for a total transaction of $356,500.74. Following the completion of the sale, the chief financial officer now directly owns 27,833 shares in the company, valued at $773,200.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lisa D. Earnhardt sold 20,000 shares of Intersect ENT stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $30.19, for a total transaction of $603,800.00. Following the sale, the insider now owns 525,868 shares of the company’s stock, valued at $15,875,954.92. The disclosure for this sale can be found here. Insiders have sold 113,838 shares of company stock worth $3,317,410 over the last ninety days. 13.70% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the stock. FMR LLC grew its holdings in Intersect ENT by 247.7% during the 2nd quarter. FMR LLC now owns 1,482,909 shares of the medical equipment provider’s stock worth $41,447,000 after acquiring an additional 1,056,389 shares in the last quarter. Vanguard Group Inc. grew its holdings in Intersect ENT by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,139,623 shares of the medical equipment provider’s stock worth $31,853,000 after acquiring an additional 71,750 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Intersect ENT by 2,746.9% during the 2nd quarter. Alliancebernstein L.P. now owns 931,505 shares of the medical equipment provider’s stock worth $26,036,000 after acquiring an additional 898,785 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in Intersect ENT by 8.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 802,521 shares of the medical equipment provider’s stock worth $24,999,000 after acquiring an additional 59,620 shares in the last quarter. Finally, State Street Corp grew its holdings in Intersect ENT by 33.6% during the 2nd quarter. State Street Corp now owns 552,344 shares of the medical equipment provider’s stock worth $15,437,000 after acquiring an additional 138,968 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

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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.

Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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