Intersect ENT, Inc. (NASDAQ:XENT) Director Frederic H. Moll sold 800 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $29.00, for a total value of $23,200.00. Following the completion of the sale, the director now directly owns 253,824 shares of the company’s stock, valued at $7,360,896. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Intersect ENT, Inc. (XENT) traded down $0.15 on Friday, hitting $28.75. 48,835 shares of the stock were exchanged, compared to its average volume of 293,065. Intersect ENT, Inc. has a 1-year low of $9.20 and a 1-year high of $33.25.
Intersect ENT (NASDAQ:XENT) last posted its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. The firm had revenue of $22.31 million during the quarter, compared to the consensus estimate of $21.53 million. Intersect ENT had a negative net margin of 19.81% and a negative return on equity of 15.96%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the firm posted ($0.22) EPS. analysts forecast that Intersect ENT, Inc. will post -0.63 earnings per share for the current fiscal year.
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XENT has been the subject of a number of analyst reports. Bank of America Corporation raised their price target on Intersect ENT from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, September 11th. Canaccord Genuity boosted their price target on Intersect ENT from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, September 13th. Zacks Investment Research upgraded shares of Intersect ENT from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Thursday, October 5th. Piper Jaffray Companies restated a “buy” rating and issued a $35.00 price objective on shares of Intersect ENT in a research note on Tuesday, August 22nd. Finally, BidaskClub downgraded shares of Intersect ENT from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.88.
Several hedge funds and other institutional investors have recently modified their holdings of XENT. Great West Life Assurance Co. Can purchased a new stake in shares of Intersect ENT during the third quarter worth about $116,000. Oppenheimer Asset Management Inc. acquired a new position in Intersect ENT during the third quarter valued at approximately $117,000. Legal & General Group Plc raised its stake in shares of Intersect ENT by 3.8% during the second quarter. Legal & General Group Plc now owns 6,939 shares of the medical equipment provider’s stock valued at $193,000 after purchasing an additional 255 shares during the period. Moors & Cabot Inc. purchased a new stake in shares of Intersect ENT during the second quarter valued at approximately $205,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Intersect ENT during the third quarter valued at approximately $228,000. Institutional investors and hedge funds own 80.23% of the company’s stock.
About Intersect ENT
Intersect ENT, Inc is a commercial-stage drug-device company. The Company develops drugs for patients with ear, nose and throat (ENT) conditions. The Company has developed a drug releasing bioabsorbable implant technology that enables targeted and sustained release of therapeutic agents. This targeted drug delivery technology is designed to allow ENT physicians to manage patient care.
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