Wall Street brokerages predict that Intersect ENT, Inc. (NASDAQ:XENT) will announce sales of $22.65 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Intersect ENT’s earnings. The lowest sales estimate is $22.38 million and the highest is $23.23 million. Intersect ENT posted sales of $19.32 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17.2%. The company is expected to report its next quarterly earnings report on Tuesday, August 1st.
On average, analysts expect that Intersect ENT will report full year sales of $22.65 million for the current financial year, with estimates ranging from $88.64 million to $92.18 million. For the next financial year, analysts forecast that the company will report sales of $109.53 million per share, with estimates ranging from $101.99 million to $115.47 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Intersect ENT.
Intersect ENT (NASDAQ:XENT) last released its quarterly earnings results on Tuesday, May 2nd. The medical equipment provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. Intersect ENT had a negative net margin of 28.71% and a negative return on equity of 20.49%. The company had revenue of $20.47 million for the quarter, compared to the consensus estimate of $19.39 million.
Several brokerages have recently issued reports on XENT. ValuEngine raised shares of Intersect ENT from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Northland Securities lowered shares of Intersect ENT from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 31st. William Blair reaffirmed an “outperform” rating on shares of Intersect ENT in a research note on Wednesday, May 10th. Canaccord Genuity reaffirmed a “buy” rating on shares of Intersect ENT in a research note on Wednesday, May 3rd. Finally, Zacks Investment Research raised shares of Intersect ENT from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $18.60.
In related news, insider Lisa D. Earnhardt sold 20,000 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $22.98, for a total value of $459,600.00. Following the sale, the insider now directly owns 600,868 shares in the company, valued at approximately $13,807,946.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 81,250 shares of company stock worth $1,781,763 over the last quarter. 13.70% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in XENT. ClariVest Asset Management LLC purchased a new stake in shares of Intersect ENT during the first quarter worth $148,000. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Intersect ENT by 109.1% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 11,500 shares of the medical equipment provider’s stock worth $196,000 after buying an additional 6,000 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Intersect ENT during the fourth quarter worth $151,000. American International Group Inc. increased its stake in shares of Intersect ENT by 7.1% in the first quarter. American International Group Inc. now owns 15,704 shares of the medical equipment provider’s stock worth $269,000 after buying an additional 1,037 shares in the last quarter. Finally, Tyers Asset Management LLC purchased a new stake in shares of Intersect ENT during the fourth quarter worth $200,000. Institutional investors and hedge funds own 76.11% of the company’s stock.
Intersect ENT (XENT) traded down 0.92% during mid-day trading on Friday, hitting $26.90. 372,708 shares of the company were exchanged. The stock’s market cap is $773.97 million. The company has a 50 day moving average of $24.69 and a 200 day moving average of $16.84. Intersect ENT has a 12-month low of $7.65 and a 12-month high of $27.98.
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.
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