Intersect ENT Inc (NASDAQ:XENT)’s share price shot up 10.1% during trading on Wednesday . The company traded as high as $12.06 and last traded at $13.11, 9,427 shares changed hands during trading. A decline of 99% from the average session volume of 1,677,705 shares. The stock had previously closed at $11.91.
A number of research firms have recently commented on XENT. BTIG Research reissued a “hold” rating on shares of Intersect ENT in a report on Tuesday. Canaccord Genuity reaffirmed a “buy” rating and issued a $30.00 target price on shares of Intersect ENT in a report on Tuesday, February 25th. BidaskClub cut Intersect ENT from a “hold” rating to a “sell” rating in a report on Wednesday, March 18th. JPMorgan Chase & Co. upped their target price on Intersect ENT from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, ValuEngine cut Intersect ENT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.83.
The business has a fifty day simple moving average of $21.92 and a 200-day simple moving average of $21.21. The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.92 and a current ratio of 6.82. The firm has a market cap of $384.67 million, a price-to-earnings ratio of -9.26 and a beta of 0.79.
Intersect ENT (NASDAQ:XENT) last issued its earnings results on Monday, February 24th. The medical equipment provider reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.10. Intersect ENT had a negative return on equity of 36.92% and a negative net margin of 39.39%. The business had revenue of $31.70 million during the quarter, compared to analysts’ expectations of $31.60 million. During the same quarter in the prior year, the firm earned ($0.16) EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts anticipate that Intersect ENT Inc will post -1.65 earnings per share for the current year.
In other Intersect ENT news, CEO Thomas A. West bought 19,035 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average price of $8.95 per share, for a total transaction of $170,363.25. Also, CFO Richard A. Meier bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were acquired at an average price of $12.55 per share, for a total transaction of $125,500.00. The disclosure for this purchase can be found here. Insiders own 5.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in XENT. Great West Life Assurance Co. Can bought a new stake in shares of Intersect ENT during the 4th quarter valued at about $52,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of Intersect ENT during the 4th quarter valued at about $83,000. Meeder Asset Management Inc. boosted its position in shares of Intersect ENT by 311.8% during the 4th quarter. Meeder Asset Management Inc. now owns 3,694 shares of the medical equipment provider’s stock valued at $91,000 after purchasing an additional 2,797 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Intersect ENT by 42.5% during the 4th quarter. Bank of Montreal Can now owns 3,838 shares of the medical equipment provider’s stock valued at $96,000 after purchasing an additional 1,144 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Intersect ENT by 36.9% during the 4th quarter. Victory Capital Management Inc. now owns 6,778 shares of the medical equipment provider’s stock valued at $169,000 after purchasing an additional 1,827 shares in the last quarter. Institutional investors own 96.46% of the company’s stock.
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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