Intersect ENT Inc (NASDAQ:XENT) insider Lisa D. Earnhardt sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $36.79, for a total value of $735,800.00. Following the transaction, the insider now owns 489,683 shares of the company’s stock, valued at $18,015,437.57. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Intersect ENT opened at $36.75 on Thursday, MarketBeat reports. The company has a market cap of $1.12 billion, a P/E ratio of -65.63 and a beta of 0.76. Intersect ENT Inc has a 12-month low of $26.35 and a 12-month high of $42.95.
Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings results on Tuesday, May 1st. The medical equipment provider reported ($0.21) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.02. Intersect ENT had a negative return on equity of 13.67% and a negative net margin of 15.73%. The business had revenue of $24.70 million during the quarter, compared to the consensus estimate of $23.66 million. During the same period in the prior year, the company posted ($0.23) EPS. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. research analysts predict that Intersect ENT Inc will post -0.64 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the business. Suntrust Banks Inc. bought a new position in Intersect ENT in the 1st quarter worth approximately $733,000. Principal Financial Group Inc. boosted its stake in Intersect ENT by 10.1% in the 1st quarter. Principal Financial Group Inc. now owns 16,564 shares of the medical equipment provider’s stock worth $651,000 after purchasing an additional 1,524 shares during the period. WINTON GROUP Ltd bought a new position in Intersect ENT in the 1st quarter worth approximately $565,000. Royal Bank of Canada boosted its stake in Intersect ENT by 298.8% in the 1st quarter. Royal Bank of Canada now owns 115,103 shares of the medical equipment provider’s stock worth $4,522,000 after purchasing an additional 86,239 shares during the period. Finally, First Light Asset Management LLC boosted its stake in Intersect ENT by 5.8% in the 1st quarter. First Light Asset Management LLC now owns 189,231 shares of the medical equipment provider’s stock worth $7,437,000 after purchasing an additional 10,335 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.
A number of brokerages recently issued reports on XENT. ValuEngine downgraded Intersect ENT from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 16th. BidaskClub downgraded Intersect ENT from a “buy” rating to a “hold” rating in a research note on Thursday. BTIG Research reiterated a “hold” rating on shares of Intersect ENT in a research note on Wednesday, May 2nd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $48.00 price objective on shares of Intersect ENT in a research note on Wednesday, May 2nd. Finally, Northland Securities reiterated a “hold” rating and set a $32.00 price objective on shares of Intersect ENT in a research note on Wednesday, May 2nd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $38.50.
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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