Northland Securities upgraded shares of Intersect ENT (NASDAQ:XENT) from an under perform rating to a market perform rating in a research report report published on Wednesday, AnalystRatings.com reports. They currently have $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.”,” Northland Securities’ analyst wrote.
Other research analysts have also issued reports about the company. ValuEngine lowered Intersect ENT from a buy rating to a hold rating in a report on Monday, July 8th. Zacks Investment Research lowered Inflarx from a buy rating to a hold rating in a report on Friday, May 3rd. Leerink Swann lowered Adaptimmune Therapeutics from an outperform rating to a market perform rating and set a $4.15 target price on the stock. in a report on Tuesday, May 7th. Svb Leerink downgraded Intersect ENT from an outperform rating to a market perform rating and reduced their price target for the company from $41.00 to $29.00 in a research note on Tuesday, May 7th. Finally, Berenberg Bank restated a buy rating and issued a GBX 620 ($8.10) price target on shares of in a research note on Friday, June 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $30.39.
XENT stock opened at $20.40 on Wednesday. The firm has a market cap of $637.42 million, a price-to-earnings ratio of -26.84 and a beta of 0.80. Intersect ENT has a 1-year low of $20.25 and a 1-year high of $35.87. The business’s 50 day simple moving average is $23.25.
Intersect ENT (NASDAQ:XENT) last posted its earnings results on Monday, May 6th. The medical equipment provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). The business had revenue of $26.70 million for the quarter, compared to analyst estimates of $26.34 million. Intersect ENT had a negative return on equity of 22.90% and a negative net margin of 24.99%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.21) earnings per share. As a group, sell-side analysts predict that Intersect ENT will post -1.32 EPS for the current fiscal year.
In related news, insider Lisa D. Earnhardt sold 29,588 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $28.43, for a total value of $841,186.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan P. Stimson sold 2,663 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total value of $79,890.00. The disclosure for this sale can be found here. Insiders sold a total of 77,951 shares of company stock valued at $2,302,205 over the last 90 days. 5.90% 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 stock. FMR LLC boosted its stake in Intersect ENT by 1,863.8% in the 1st quarter. FMR LLC now owns 632,451 shares of the medical equipment provider’s stock valued at $20,334,000 after purchasing an additional 600,246 shares during the period. OppenheimerFunds Inc. lifted its position in shares of Intersect ENT by 2.1% during the 1st quarter. OppenheimerFunds Inc. now owns 438,940 shares of the medical equipment provider’s stock valued at $14,111,000 after acquiring an additional 8,938 shares during the period. William Blair Investment Management LLC lifted its position in shares of Intersect ENT by 35.6% during the 1st quarter. William Blair Investment Management LLC now owns 528,404 shares of the medical equipment provider’s stock valued at $16,988,000 after acquiring an additional 138,780 shares during the period. Jennison Associates LLC bought a new stake in shares of Intersect ENT during the 1st quarter valued at $2,823,000. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Intersect ENT during the 1st quarter valued at $212,000. Institutional investors and hedge funds own 92.00% of the company’s stock.
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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