Intersect ENT (NASDAQ:XENT) Shares Gap Down to $22.54


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Intersect ENT, Inc. (NASDAQ:XENT)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $22.54, but opened at $21.59. Intersect ENT shares last traded at $21.98, with a volume of 183 shares traded.

Several research analysts recently weighed in on XENT shares. Canaccord Genuity raised shares of Intersect ENT from a “hold” rating to a “buy” rating and boosted their target price for the company from $18.00 to $25.00 in a research note on Monday, January 11th. Zacks Investment Research raised shares of Intersect ENT from a “sell” rating to a “hold” rating and set a $21.00 target price for the company in a research report on Tuesday, April 20th. Piper Sandler increased their target price on shares of Intersect ENT from $17.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 15th. Finally, SVB Leerink increased their target price on shares of Intersect ENT from $24.00 to $25.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 16th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $25.00.

The stock has a market cap of $719.05 million, a PE ratio of -11.80 and a beta of 1.34. The stock has a fifty day simple moving average of $20.57 and a two-hundred day simple moving average of $21.31. The company has a debt-to-equity ratio of 0.72, a quick ratio of 10.29 and a current ratio of 11.28.

Intersect ENT (NASDAQ:XENT) last released its quarterly earnings results on Monday, March 8th. The medical equipment provider reported ($0.54) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.22). The company had revenue of $28.20 million during the quarter, compared to analysts’ expectations of $27.83 million. Intersect ENT had a negative return on equity of 55.81% and a negative net margin of 71.96%. The firm’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.25) EPS. On average, equities analysts predict that Intersect ENT, Inc. will post -1.88 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XENT. FMR LLC boosted its stake in shares of Intersect ENT by 1,863.8% during the 1st quarter. FMR LLC now owns 632,451 shares of the medical equipment provider’s stock valued at $20,334,000 after buying an additional 600,246 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Intersect ENT by 8.9% during the 4th quarter. BlackRock Inc. now owns 2,885,776 shares of the medical equipment provider’s stock valued at $66,085,000 after buying an additional 235,862 shares during the last quarter. IndexIQ Advisors LLC boosted its stake in shares of Intersect ENT by 11.5% during the 4th quarter. IndexIQ Advisors LLC now owns 17,675 shares of the medical equipment provider’s stock valued at $405,000 after buying an additional 1,825 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Intersect ENT by 5.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 62,550 shares of the medical equipment provider’s stock valued at $1,432,000 after buying an additional 3,000 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Intersect ENT by 3.5% during the 4th quarter. Jennison Associates LLC now owns 1,042,951 shares of the medical equipment provider’s stock valued at $23,884,000 after buying an additional 35,182 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

About Intersect ENT (NASDAQ:XENT)

Intersect ENT, Inc operates as an ear, nose, and throat (ENT) medical technology company in the United States. The company offers PROPEL and PROPEL Mini, which are steroid 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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