Intersect ENT (XENT) Upgraded to “Buy” by Zacks Investment Research

Intersect ENT (NASDAQ:XENT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $30.00 price target on the medical equipment provider’s stock. Zacks Investment Research‘s price objective would indicate a potential downside of 9.06% from the company’s previous close.

According to Zacks, “Intersect ENT, Inc. is a commercial drug-device company. The Company’s initial products, PROPEL and PROPEL mini, are drug-eluting implants for use in patients with chronic sinusitis. It offers products and therapies for ear, nose, and throat surgeons to improve treatment for their patients with chronic diseases. Intersect ENT, Inc. is headquartered in Menlo Park, California. “

Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Intersect ENT from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Piper Jaffray Companies lowered their target price on shares of Intersect ENT from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 1st. Northland Securities reissued a “hold” rating and set a $28.00 target price on shares of Intersect ENT in a research report on Wednesday, October 17th. ValuEngine downgraded shares of Intersect ENT from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, BTIG Research reissued a “hold” rating on shares of Intersect ENT in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.17.

Shares of NASDAQ:XENT traded up $0.35 during midday trading on Wednesday, hitting $32.99. 9,646 shares of the stock were exchanged, compared to its average volume of 388,842. Intersect ENT has a 52-week low of $25.15 and a 52-week high of $42.95. The firm has a market cap of $880.44 million, a price-to-earnings ratio of -59.11 and a beta of 0.57.

Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings data on Monday, November 5th. The medical equipment provider reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.02. Intersect ENT had a negative return on equity of 15.01% and a negative net margin of 17.22%. The business had revenue of $24.70 million during the quarter, compared to analyst estimates of $24.09 million. During the same period last year, the company earned ($0.15) earnings per share. Intersect ENT’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Intersect ENT will post -0.86 earnings per share for the current fiscal year.

In other Intersect ENT news, insider Lisa D. Earnhardt sold 20,000 shares of the stock in a transaction on Monday, October 15th. The shares were sold at an average price of $29.63, for a total transaction of $592,600.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Jeryl L. Hilleman sold 12,833 shares of the firm’s stock in a transaction dated Monday, October 8th. The shares were sold at an average price of $27.99, for a total value of $359,195.67. The disclosure for this sale can be found here. Insiders have sold 85,666 shares of company stock worth $2,435,926 over the last three months. Company insiders own 5.90% of the company’s stock.

Large investors have recently modified their holdings of the company. Meeder Asset Management Inc. grew its position in shares of Intersect ENT by 565.6% in the second quarter. Meeder Asset Management Inc. now owns 3,987 shares of the medical equipment provider’s stock valued at $149,000 after purchasing an additional 3,388 shares during the last quarter. UBS Group AG grew its position in shares of Intersect ENT by 81.1% in the first quarter. UBS Group AG now owns 4,679 shares of the medical equipment provider’s stock valued at $184,000 after purchasing an additional 2,096 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Intersect ENT in the second quarter valued at about $242,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Intersect ENT in the second quarter valued at about $247,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Intersect ENT by 2,091.8% in the second quarter. PNC Financial Services Group Inc. now owns 6,707 shares of the medical equipment provider’s stock valued at $252,000 after purchasing an additional 6,401 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

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. It 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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