Intersect ENT (NASDAQ:XENT) Issues Quarterly Earnings Results

Intersect ENT (NASDAQ:XENT) announced its quarterly earnings results on Thursday. The medical equipment provider reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.02), Bloomberg Earnings reports. Intersect ENT had a negative net margin of 24.99% and a negative return on equity of 22.90%. The business had revenue of $26.66 million during the quarter, compared to analyst estimates of $27.13 million. During the same quarter last year, the company posted ($0.14) earnings per share. The company’s revenue was up 1.4% compared to the same quarter last year. Intersect ENT updated its FY 2019 guidance to EPS.

XENT opened at $20.13 on Friday. Intersect ENT has a twelve month low of $19.48 and a twelve month high of $35.87. The business’s fifty day moving average price is $21.71. The firm has a market capitalization of $628.36 million, a PE ratio of -26.49 and a beta of 0.80.

In other Intersect ENT news, insider Susan P. Stimson sold 5,350 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $27.38, for a total value of $146,483.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lisa D. Earnhardt sold 9,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $25.59, for a total transaction of $243,105.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,200 shares of company stock valued at $695,518. 5.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Squarepoint Ops LLC grew its holdings in Intersect ENT by 1.2% in the fourth quarter. Squarepoint Ops LLC now owns 46,588 shares of the medical equipment provider’s stock worth $1,313,000 after purchasing an additional 547 shares during the period. Legal & General Group Plc grew its holdings in Intersect ENT by 14.8% in the fourth quarter. Legal & General Group Plc now owns 5,353 shares of the medical equipment provider’s stock worth $151,000 after purchasing an additional 690 shares during the period. Meeder Asset Management Inc. grew its holdings in Intersect ENT by 15.0% in the first quarter. Meeder Asset Management Inc. now owns 6,443 shares of the medical equipment provider’s stock worth $206,000 after purchasing an additional 839 shares during the period. Two Sigma Advisers LP grew its holdings in Intersect ENT by 3.2% in the fourth quarter. Two Sigma Advisers LP now owns 29,000 shares of the medical equipment provider’s stock worth $817,000 after purchasing an additional 900 shares during the period. Finally, Quantamental Technologies LLC grew its holdings in Intersect ENT by 211.0% in the first quarter. Quantamental Technologies LLC now owns 1,950 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 1,323 shares during the period. Institutional investors and hedge funds own 91.95% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Leerink Swann cut shares of Intersect ENT from an “outperform” rating to a “market perform” rating and set a $25.75 price objective for the company. in a research report on Tuesday, May 7th. Northland Securities upgraded shares of Intersect ENT from an “under perform” rating to a “market perform” rating and set a $20.00 price objective for the company in a research report on Wednesday, July 10th. Piper Jaffray Companies cut shares of Intersect ENT from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $17.00 in a research report on Friday. Svb Leerink cut shares of Intersect ENT from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $41.00 to $29.00 in a research report on Tuesday, May 7th. Finally, Zacks Investment Research cut shares of Intersect ENT from a “hold” rating to a “strong sell” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Intersect ENT currently has a consensus rating of “Hold” and an average price target of $27.11.

Intersect ENT Company Profile

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.

See Also: Return on Equity (ROE)

Earnings History for Intersect ENT (NASDAQ:XENT)

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