Intersect ENT (XENT) Rating Increased to Buy at BidaskClub

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Intersect ENT (NASDAQ:XENT) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other brokerages have also issued reports on XENT. Zacks Investment Research reissued a “hold” rating on shares of Intersect ENT in a research note on Saturday, April 7th. Canaccord Genuity reissued a “buy” rating on shares of Intersect ENT in a research note on Monday, May 7th. Northland Securities reissued a “hold” rating and set a $32.00 target price on shares of Intersect ENT in a research note on Wednesday, May 2nd. Berenberg Bank initiated coverage on shares of Intersect ENT in a research note on Friday, April 20th. They set a “buy” rating for the company. Finally, ValuEngine raised shares of Intersect ENT from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $38.50.

Shares of NASDAQ:XENT opened at $37.45 on Thursday. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -66.88 and a beta of 0.76. Intersect ENT has a 12-month low of $26.90 and a 12-month high of $42.95.

Intersect ENT (NASDAQ:XENT) last issued its earnings results on Tuesday, May 1st. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. The company had revenue of $24.70 million during the quarter, compared to analyst estimates of $23.66 million. Intersect ENT had a negative net margin of 15.73% and a negative return on equity of 13.67%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.23) EPS. equities research analysts expect that Intersect ENT will post -0.64 earnings per share for the current fiscal year.

In related news, CFO Jeryl L. Hilleman sold 12,833 shares of Intersect ENT stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $37.66, for a total value of $483,290.78. Following the completion of the sale, the chief financial officer now owns 36,265 shares of the company’s stock, valued at approximately $1,365,739.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lisa D. Earnhardt sold 20,000 shares of Intersect ENT stock in a transaction on Friday, June 15th. The shares were sold at an average price of $36.79, for a total transaction of $735,800.00. Following the completion of the sale, the insider now directly owns 489,683 shares of the company’s stock, valued at approximately $18,015,437.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,499 shares of company stock valued at $2,860,627. 5.90% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of Intersect ENT in the 1st quarter valued at $132,000. UBS Group AG lifted its stake in shares of Intersect ENT by 81.1% in the 1st quarter. UBS Group AG now owns 4,679 shares of the medical equipment provider’s stock valued at $184,000 after purchasing an additional 2,096 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Intersect ENT in the 1st quarter valued at $213,000. Elkfork Partners LLC acquired a new stake in shares of Intersect ENT in the 4th quarter valued at $237,000. Finally, All Terrain Financial Advisors LLC acquired a new stake in shares of Intersect ENT in the 1st quarter valued at $241,000. 88.54% of the stock is owned by institutional investors and hedge funds.

About Intersect ENT

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. It 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.

Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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