Intersect ENT (NASDAQ:XENT) Sets New 52-Week Low at $15.95

Intersect ENT Inc (NASDAQ:XENT)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $15.95 and last traded at $16.00, with a volume of 4377 shares. The stock had previously closed at $16.50.

A number of equities analysts have commented on the company. BidaskClub lowered Intersect ENT from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 4th. Piper Jaffray Companies lowered Intersect ENT from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $30.00 to $17.00 in a research note on Friday, August 2nd. Leerink Swann lowered Intersect ENT from an “outperform” rating to a “market perform” rating and set a $25.75 price objective on the stock. in a research note on Tuesday, May 7th. Zacks Investment Research lowered Intersect ENT from a “hold” rating to a “strong sell” rating in a research note on Friday, May 3rd. Finally, Guggenheim lowered Intersect ENT from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Intersect ENT presently has a consensus rating of “Hold” and a consensus price target of $27.11.

The stock has a market capitalization of $517.37 million, a price-to-earnings ratio of -21.00 and a beta of 0.79. The company’s 50 day simple moving average is $20.06.

Intersect ENT (NASDAQ:XENT) last issued its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.02). Intersect ENT had a negative net margin of 31.43% and a negative return on equity of 29.16%. The firm had revenue of $26.66 million for the quarter, compared to analyst estimates of $27.13 million. During the same period last year, the company earned ($0.14) EPS. The company’s revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that Intersect ENT Inc will post -1.42 EPS for the current year.

In other news, CEO Lisa D. Earnhardt sold 9,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $25.59, for a total transaction of $243,105.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Quantamental Technologies LLC lifted its stake in shares of Intersect ENT by 211.0% during the first quarter. Quantamental Technologies LLC now owns 1,950 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 1,323 shares during the period. Legal & General Group Plc increased its holdings in Intersect ENT by 14.8% in the fourth quarter. Legal & General Group Plc now owns 5,353 shares of the medical equipment provider’s stock valued at $151,000 after purchasing an additional 690 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Intersect ENT by 62,220.0% in the first quarter. BNP Paribas Arbitrage SA now owns 6,232 shares of the medical equipment provider’s stock valued at $200,000 after purchasing an additional 6,222 shares during the last quarter. NumerixS Investment Technologies Inc increased its holdings in Intersect ENT by 190.9% in the first quarter. NumerixS Investment Technologies Inc now owns 6,400 shares of the medical equipment provider’s stock valued at $200,000 after purchasing an additional 4,200 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Intersect ENT by 15.0% in the first quarter. Meeder Asset Management Inc. now owns 6,443 shares of the medical equipment provider’s stock valued at $206,000 after purchasing an additional 839 shares during the last quarter. 91.73% of the stock is currently owned by institutional investors and hedge funds.

Intersect ENT Company Profile (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.

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