Intersect ENT Inc (NASDAQ:XENT) shares rose 5.9% during mid-day trading on Monday . The stock traded as high as $17.95 and last traded at $17.80, approximately 282,900 shares were traded during trading. A decline of 26% from the average daily volume of 380,609 shares. The stock had previously closed at $16.81.
XENT has been the topic of several research analyst reports. BidaskClub upgraded shares of Intersect ENT from a “sell” rating to a “hold” rating in a research note on Friday, October 11th. Guggenheim cut shares of Intersect ENT from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. ValuEngine upgraded shares of Intersect ENT from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Piper Jaffray Companies cut shares of Intersect ENT from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $30.00 to $17.00 in a research note on Friday, August 2nd. Finally, Northland Securities upgraded shares of 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 note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $27.11.
The stock has a market cap of $525.59 million, a PE ratio of -23.42 and a beta of 0.72. The company’s 50-day moving average price is $17.26 and its 200 day moving average price is $21.81.
Intersect ENT (NASDAQ:XENT) last released its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.02). Intersect ENT had a negative net margin of 31.43% and a negative return on equity of 29.16%. The business had revenue of $26.66 million for the quarter, compared to analysts’ expectations of $27.13 million. During the same period in the previous year, the company earned ($0.14) EPS. Intersect ENT’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, analysts predict that Intersect ENT Inc will post -1.44 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in XENT. Quantamental Technologies LLC increased its holdings in Intersect ENT by 133.6% in the 2nd quarter. Quantamental Technologies LLC now owns 4,555 shares of the medical equipment provider’s stock worth $104,000 after acquiring an additional 2,605 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in Intersect ENT in the 3rd quarter worth approximately $208,000. Cubist Systematic Strategies LLC increased its holdings in Intersect ENT by 106.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,013 shares of the medical equipment provider’s stock worth $410,000 after acquiring an additional 9,275 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in Intersect ENT in the 2nd quarter worth approximately $539,000. Finally, First Trust Advisors LP purchased a new stake in Intersect ENT in the 2nd quarter worth approximately $556,000. 96.29% of the stock is owned by hedge funds and other institutional investors.
About Intersect ENT (NASDAQ:XENT)
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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