Intersect ENT’s (XENT) “Hold” Rating Restated at Northland Securities

Intersect ENT’s (XENT) “Hold” Rating Restated at Northland Securities

Northland Securities restated their hold rating on shares of Intersect ENT (NASDAQ:XENT) in a research note released on Monday. The firm currently has a $28.00 price objective on the medical equipment provider’s stock.

Several other research analysts also recently weighed in on XENT. BidaskClub downgraded Intersect ENT from a buy rating to a hold rating in a research note on Tuesday, July 17th. Piper Jaffray Companies lowered their target price on Intersect ENT from $45.00 to $40.00 and set an overweight rating for the company in a research report on Wednesday, August 1st. Canaccord Genuity reiterated a buy rating on shares of Intersect ENT in a research report on Wednesday, August 1st. ValuEngine downgraded Intersect ENT from a buy rating to a hold rating in a research report on Thursday, August 2nd. Finally, BTIG Research reiterated 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 issued a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $37.17.

XENT stock traded down $0.27 during midday trading on Monday, hitting $32.51. The company’s stock had a trading volume of 4,644 shares, compared to its average volume of 509,131. Intersect ENT has a 12 month low of $25.15 and a 12 month high of $42.95. The company has a market capitalization of $997.32 million, a price-to-earnings ratio of -57.50 and a beta of 0.57.

Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings results on Monday, November 5th. The medical equipment provider reported ($0.25) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.02. Intersect ENT had a negative return on equity of 17.62% and a negative net margin of 20.00%. The business had revenue of $24.70 million during the quarter, compared to the consensus estimate of $24.09 million. During the same period in the prior year, the company posted ($0.15) EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts predict that Intersect ENT will post -0.82 EPS for the current fiscal year.

In other news, insider Lisa D. Earnhardt sold 20,000 shares of the stock in a transaction that occurred on Monday, October 15th. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeryl L. Hilleman sold 12,833 shares of the stock in a transaction that occurred on 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 a total of 85,666 shares of company stock valued at $2,435,926 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Intersect ENT by 10.1% during the 1st quarter. Principal Financial Group Inc. now owns 16,564 shares of the medical equipment provider’s stock valued at $651,000 after buying an additional 1,524 shares during the period. UBS Group AG raised its holdings in Intersect ENT by 81.1% during the 1st quarter. UBS Group AG now owns 4,679 shares of the medical equipment provider’s stock valued at $184,000 after buying an additional 2,096 shares during the period. Strs Ohio raised its holdings in Intersect ENT by 9.7% during the 2nd quarter. Strs Ohio now owns 25,900 shares of the medical equipment provider’s stock valued at $969,000 after buying an additional 2,300 shares during the period. MetLife Investment Advisors LLC raised its holdings in Intersect ENT by 22.2% during the 2nd quarter. MetLife Investment Advisors LLC now owns 13,971 shares of the medical equipment provider’s stock valued at $523,000 after buying an additional 2,537 shares during the period. Finally, Waddell & Reed Financial Inc. raised its holdings in Intersect ENT by 1.6% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 169,500 shares of the medical equipment provider’s stock valued at $6,348,000 after buying an additional 2,600 shares during the period. Hedge funds and other institutional investors own 90.03% 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. 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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