Intersect ENT (NASDAQ:XENT) Stock Price Up 5.9%

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Shares of Intersect ENT Inc (NASDAQ:XENT) rose 5.9% on Monday . The stock traded as high as $17.95 and last traded at $17.80, approximately 282,900 shares were traded during trading. A decline of 26% from the average daily volume of 380,609 shares. The stock had previously closed at $16.81.

A number of analysts have recently commented on the company. Northland Securities upgraded Intersect ENT from an “under perform” rating to a “market perform” rating and set a $20.00 price target on the stock in a report on Wednesday, July 10th. Guggenheim lowered Intersect ENT from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Piper Jaffray Companies lowered Intersect ENT from an “overweight” rating to a “neutral” rating and cut their price target for the company from $30.00 to $17.00 in a report on Friday, August 2nd. BidaskClub upgraded Intersect ENT from a “sell” rating to a “hold” rating in a report on Friday, October 11th. Finally, ValuEngine upgraded Intersect ENT from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $27.11.

The company has a market capitalization of $559.74 million, a P/E ratio of -23.75 and a beta of 0.72. The business has a fifty day moving average price of $17.32 and a 200 day moving average price of $21.67.

Intersect ENT (NASDAQ:XENT) last released its earnings results on Thursday, August 1st. The medical equipment provider reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The company had revenue of $26.66 million during the quarter, compared to analyst estimates of $27.13 million. Intersect ENT had a negative net margin of 31.43% and a negative return on equity of 29.16%. Intersect ENT’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.14) EPS. Research analysts anticipate that Intersect ENT Inc will post -1.44 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. increased its position in shares of Intersect ENT by 18,587.5% in the second quarter. Point72 Asset Management L.P. now owns 2,459,842 shares of the medical equipment provider’s stock valued at $55,986,000 after acquiring an additional 2,446,679 shares during the last quarter. Invesco Ltd. increased its position in shares of Intersect ENT by 24.5% in the second quarter. Invesco Ltd. now owns 2,187,559 shares of the medical equipment provider’s stock valued at $49,789,000 after acquiring an additional 430,279 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Intersect ENT by 4.1% in the second quarter. Vanguard Group Inc. now owns 1,577,734 shares of the medical equipment provider’s stock valued at $35,909,000 after acquiring an additional 62,289 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of Intersect ENT by 86.0% in the second quarter. Westfield Capital Management Co. LP now owns 1,214,025 shares of the medical equipment provider’s stock valued at $27,631,000 after acquiring an additional 561,244 shares during the last quarter. Finally, Rock Springs Capital Management LP increased its position in shares of Intersect ENT by 69.9% in the second quarter. Rock Springs Capital Management LP now owns 790,000 shares of the medical equipment provider’s stock valued at $17,980,000 after acquiring an additional 325,000 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Gross Domestic Product (GDP)

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