Zacks Investment Research upgraded shares of Intersect ENT (NASDAQ:XENT) from a hold rating to a buy rating in a report issued on Wednesday. The firm currently has $30.00 price objective on the medical equipment provider’s stock.

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. “

A number of other brokerages also recently issued reports on XENT. BidaskClub downgraded Intersect ENT from a buy rating to a hold rating in a research note on Tuesday, July 17th. Northland Securities restated a hold rating and issued a $28.00 price objective on shares of Intersect ENT in a research note on Wednesday, October 17th. ValuEngine upgraded Intersect ENT from a hold rating to a buy rating in a research note on Tuesday, October 2nd. BTIG Research restated a hold rating on shares of Intersect ENT in a research note on Thursday, August 2nd. Finally, Piper Jaffray Companies reduced their price objective on Intersect ENT from $45.00 to $40.00 and set an overweight rating for the company in a research note on Wednesday, August 1st. One investment 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’s stock. The stock has an average rating of Buy and a consensus price target of $37.17.

Intersect ENT stock traded down $1.43 during trading on Wednesday, hitting $31.16. 206,691 shares of the company were exchanged, compared to its average volume of 508,279. Intersect ENT has a 52 week low of $25.15 and a 52 week high of $42.95.

Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings results 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. The business had revenue of $24.70 million during the quarter, compared to the consensus estimate of $24.09 million. Intersect ENT had a negative return on equity of 17.62% and a negative net margin of 20.00%. Intersect ENT’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) earnings per share. On average, equities analysts anticipate that Intersect ENT will post -0.73 EPS for the current year.

In other news, CEO Lisa D. Earnhardt sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $26.51, for a total transaction of $530,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeryl L. Hilleman sold 12,833 shares of the company’s stock in a transaction 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 worth $2,435,926 in the last ninety days. Insiders own 5.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of 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 last quarter. UBS Group AG lifted its position in shares of 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 last quarter. Strs Ohio lifted its position in shares of 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 last quarter. MetLife Investment Advisors LLC lifted its position in shares of 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 last quarter. Finally, Waddell & Reed Financial Inc. lifted its position in shares of 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 last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Intersect ENT Company Profile

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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Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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