Intersect ENT (NASDAQ:XENT) Upgraded to “Market Perform” by Northland Securities

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Northland Securities upgraded shares of Intersect ENT (NASDAQ:XENT) from an under perform rating to a market perform rating in a research report sent to investors on Wednesday, AnalystRatings.com reports. The brokerage currently has $20.00 price objective on the medical equipment provider’s stock.

“We are upgrading Intersect ENT to a Market Perform rating. We had downgraded the stock immediately after the Q1 report. The stock has reached our price target, hence the ratings change. We note though, the ratings change does not reflect a fundamental change in outlook, at least for now.”,” the firm’s analyst commented.

XENT has been the subject of a number of other reports. Zacks Investment Research cut Inflarx from a buy rating to a hold rating in a research note on Friday, May 3rd. Berenberg Bank reaffirmed a buy rating and set a GBX 620 ($8.10) price target on shares of in a research note on Friday, June 21st. Leerink Swann cut shares of Adaptimmune Therapeutics from an outperform rating to a market perform rating and set a $4.15 price target for the company. in a research note on Tuesday, May 7th. Svb Leerink cut shares of Intersect ENT from an outperform rating to a market perform rating and decreased their price target for the stock from $41.00 to $29.00 in a research note on Tuesday, May 7th. Finally, ValuEngine cut shares of Intersect ENT from a buy rating to a hold rating in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $30.39.

NASDAQ XENT opened at $20.40 on Wednesday. The business’s 50 day simple moving average is $23.25. Intersect ENT has a 52-week low of $20.25 and a 52-week high of $35.87. The company has a market cap of $647.42 million, a PE ratio of -26.84 and a beta of 0.80.

Intersect ENT (NASDAQ:XENT) last posted its earnings results on Monday, May 6th. The medical equipment provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). Intersect ENT had a negative return on equity of 22.90% and a negative net margin of 24.99%. The business had revenue of $26.70 million for the quarter, compared to the consensus estimate of $26.34 million. During the same period in the previous year, the company posted ($0.21) earnings per share. Intersect ENT’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts anticipate that Intersect ENT will post -1.34 EPS for the current fiscal year.

In other news, insider Susan P. Stimson sold 2,663 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total value of $79,890.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lisa D. Earnhardt sold 29,588 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $28.43, for a total value of $841,186.84. The disclosure for this sale can be found here. Insiders have sold a total of 77,951 shares of company stock valued at $2,302,205 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc boosted its holdings in shares of Intersect ENT by 43.0% in the 4th quarter. NumerixS Investment Technologies Inc now owns 2,200 shares of the medical equipment provider’s stock valued at $60,000 after buying an additional 662 shares during the last quarter. Quantamental Technologies LLC lifted its holdings in Intersect ENT by 211.0% during the 1st quarter. Quantamental Technologies LLC now owns 1,950 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 1,323 shares during the last quarter. Legal & General Group Plc lifted its holdings in Intersect ENT by 14.8% during the 4th quarter. Legal & General Group Plc now owns 5,353 shares of the medical equipment provider’s stock valued at $151,000 after purchasing an additional 690 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Intersect ENT by 62,220.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,232 shares of the medical equipment provider’s stock valued at $200,000 after purchasing an additional 6,222 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in Intersect ENT by 15.0% during the 1st quarter. Meeder Asset Management Inc. now owns 6,443 shares of the medical equipment provider’s stock valued at $206,000 after purchasing an additional 839 shares during the last quarter. 92.00% of the stock is owned by institutional investors.

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. The company 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.

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Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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