BidaskClub Downgrades Intersect ENT (NASDAQ:XENT) to Hold

Intersect ENT (NASDAQ:XENT) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday, BidAskClub reports.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. raised their price target on Intersect ENT from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Piper Jaffray Companies set a $21.00 price objective on Intersect ENT and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, ValuEngine raised Intersect ENT from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.25.

XENT stock traded down $0.02 on Wednesday, reaching $24.00. The company’s stock had a trading volume of 761,200 shares, compared to its average volume of 691,760. The business has a fifty day simple moving average of $22.63 and a two-hundred day simple moving average of $19.67. Intersect ENT has a 12-month low of $14.61 and a 12-month high of $35.87. The firm has a market cap of $772.59 million, a PE ratio of -31.58 and a beta of 0.83.

Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings results on Friday, November 1st. The medical equipment provider reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). Intersect ENT had a negative return on equity of 34.19% and a negative net margin of 36.37%. The business had revenue of $24.06 million during the quarter, compared to analysts’ expectations of $24.08 million. During the same period in the previous year, the business earned ($0.25) EPS. The business’s revenue was down 2.5% compared to the same quarter last year. On average, equities analysts expect that Intersect ENT will post -1.45 EPS for the current year.

In other Intersect ENT news, insider Robert H. Binney, Jr. sold 25,584 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $21.54, for a total transaction of $551,079.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Intersect ENT by 5.1% during the third quarter. State Street Corp now owns 726,772 shares of the medical equipment provider’s stock valued at $12,362,000 after acquiring an additional 35,130 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Intersect ENT by 4.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 181,560 shares of the medical equipment provider’s stock valued at $4,133,000 after acquiring an additional 7,269 shares in the last quarter. Quadrant Capital Group LLC bought a new position in shares of Intersect ENT during the third quarter valued at $36,000. State of New Jersey Common Pension Fund D bought a new position in shares of Intersect ENT during the third quarter valued at $1,917,000. Finally, California State Teachers Retirement System increased its holdings in shares of Intersect ENT by 2.5% during the third quarter. California State Teachers Retirement System now owns 48,481 shares of the medical equipment provider’s stock valued at $825,000 after acquiring an additional 1,193 shares in the last quarter. 97.20% of the stock is owned by institutional investors and hedge funds.

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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