Intersect ENT (NASDAQ:XENT) Downgraded to Neutral at Piper Jaffray Companies

Piper Jaffray Companies lowered shares of Intersect ENT (NASDAQ:XENT) from an overweight rating to a neutral rating in a research report report published on Friday, BenzingaRatingsTable reports. The firm currently has $17.00 price target on the medical equipment provider’s stock, down from their previous price target of $30.00.

Several other brokerages have also commented on XENT. Leerink Swann lowered Intersect ENT from an outperform rating to a market perform rating and set a $25.75 target price on the stock. in a research report on Tuesday, May 7th. Northland Securities upgraded Intersect ENT from an under perform rating to a market perform rating and set a $20.00 target price on the stock in a research report on Wednesday, July 10th. Svb Leerink lowered Intersect ENT from an outperform rating to a market perform rating and cut their target price for the company from $41.00 to $29.00 in a research report on Tuesday, May 7th. BidaskClub lowered Intersect ENT from a sell rating to a strong sell rating in a research report on Thursday, July 4th. Finally, Berenberg Bank lowered Intersect ENT from a buy rating to a hold rating and cut their price target for the stock from $35.00 to $27.00 in a report on Friday, June 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Intersect ENT presently has a consensus rating of Hold and a consensus target price of $27.11.

Shares of Intersect ENT stock traded down $3.63 on Friday, hitting $16.50. 2,414,910 shares of the company’s stock traded hands, compared to its average volume of 303,388. Intersect ENT has a one year low of $16.15 and a one year high of $35.87. The firm’s fifty day moving average price is $21.54. The company has a market cap of $617.74 million, a P/E ratio of -21.71 and a beta of 0.79.

Intersect ENT (NASDAQ:XENT) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). 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 for the quarter, compared to the consensus estimate of $27.13 million. During the same quarter in the previous year, the company earned ($0.14) EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities research analysts expect that Intersect ENT will post -1.34 earnings per share for the current fiscal year.

In other Intersect ENT news, General Counsel David Aaron Lehman sold 9,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $33.02, for a total value of $297,180.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Susan P. Stimson sold 5,350 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $27.38, for a total value of $146,483.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,200 shares of company stock worth $695,518. Corporate insiders own 5.90% of the company’s stock.

A number of large investors have recently made changes to their positions in XENT. FMR LLC boosted its holdings in Intersect ENT by 1,863.8% in the first quarter. FMR LLC now owns 632,451 shares of the medical equipment provider’s stock worth $20,334,000 after acquiring an additional 600,246 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Intersect ENT by 35.6% in the first quarter. William Blair Investment Management LLC now owns 528,404 shares of the medical equipment provider’s stock worth $16,988,000 after purchasing an additional 138,780 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Intersect ENT in the fourth quarter worth approximately $3,382,000. Great Lakes Advisors LLC purchased a new stake in shares of Intersect ENT in the first quarter worth approximately $3,154,000. Finally, Jennison Associates LLC purchased a new stake in shares of Intersect ENT in the first quarter worth approximately $2,823,000. Institutional investors and hedge funds own 91.95% 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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Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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