Intersect ENT (XENT) Trading 9.4% Higher

Intersect ENT Inc (NASDAQ:XENT) shares traded up 9.4% on Friday . The company traded as high as $30.15 and last traded at $29.92. 645,500 shares were traded during trading, an increase of 120% from the average session volume of 292,802 shares. The stock had previously closed at $27.35.

A number of research analysts recently weighed in on the company. BidaskClub lowered Intersect ENT from a “buy” rating to a “hold” rating in a report on Wednesday. Piper Jaffray Companies reissued a “buy” rating and set a $35.00 target price on shares of Intersect ENT in a report on Tuesday, August 22nd. Zacks Investment Research raised Intersect ENT from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Thursday, October 5th. BTIG Research reaffirmed a “hold” rating on shares of Intersect ENT in a report on Tuesday, November 7th. Finally, Northland Securities reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Intersect ENT in a report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Intersect ENT presently has a consensus rating of “Buy” and a consensus target price of $32.43.

Intersect ENT (NASDAQ:XENT) last issued its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.05. Intersect ENT had a negative return on equity of 15.96% and a negative net margin of 19.81%. The firm had revenue of $22.31 million for the quarter, compared to analyst estimates of $21.53 million. During the same period in the prior year, the firm posted ($0.22) EPS. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. research analysts anticipate that Intersect ENT Inc will post -0.63 EPS for the current year.

In other news, CFO Jeryl L. Hilleman sold 12,833 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $30.06, for a total transaction of $385,759.98. Following the sale, the chief financial officer now directly owns 27,833 shares of the company’s stock, valued at approximately $836,659.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frederic H. Moll sold 14,200 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $28.76, for a total value of $408,392.00. Following the sale, the director now directly owns 247,124 shares in the company, valued at $7,107,286.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,838 shares of company stock worth $3,317,410. 13.70% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in XENT. Teachers Advisors LLC grew its holdings in shares of Intersect ENT by 3.5% during the 1st quarter. Teachers Advisors LLC now owns 61,858 shares of the medical equipment provider’s stock worth $1,061,000 after purchasing an additional 2,084 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Intersect ENT by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 1,067,873 shares of the medical equipment provider’s stock worth $18,314,000 after purchasing an additional 73,615 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Intersect ENT by 3.7% during the 1st quarter. Geode Capital Management LLC now owns 234,881 shares of the medical equipment provider’s stock worth $4,028,000 after purchasing an additional 8,417 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Intersect ENT by 6.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 120,838 shares of the medical equipment provider’s stock worth $2,073,000 after purchasing an additional 6,963 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Intersect ENT by 3.9% during the 1st quarter. Bank of America Corp DE now owns 103,275 shares of the medical equipment provider’s stock worth $1,771,000 after purchasing an additional 3,892 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors.

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About Intersect ENT

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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