Zacks: Analysts Expect Intersect ENT, Inc. (NASDAQ:XENT) Will Post Earnings of -$0.42 Per Share

Wall Street brokerages forecast that Intersect ENT, Inc. (NASDAQ:XENT) will report earnings of ($0.42) per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Intersect ENT’s earnings. The lowest EPS estimate is ($0.46) and the highest is ($0.36). Intersect ENT posted earnings per share of ($0.34) in the same quarter last year, which suggests a negative year-over-year growth rate of 23.5%. The company is expected to report its next quarterly earnings report on Monday, November 1st.

On average, analysts expect that Intersect ENT will report full-year earnings of ($1.81) per share for the current year, with EPS estimates ranging from ($1.89) to ($1.75). For the next year, analysts anticipate that the business will post earnings of ($1.23) per share, with EPS estimates ranging from ($1.34) to ($1.11). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Intersect ENT.

Intersect ENT (NASDAQ:XENT) last issued its earnings results on Friday, August 6th. The medical equipment provider reported ($0.49) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.07). The business had revenue of $27.30 million during the quarter, compared to the consensus estimate of $27.77 million. Intersect ENT had a negative return on equity of 102.23% and a negative net margin of 66.55%. The company’s revenue for the quarter was up 178.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.65) earnings per share.

Several equities research analysts have recently commented on the company. Canaccord Genuity downgraded Intersect ENT from a “buy” rating to a “hold” rating and decreased their price objective for the company from $29.00 to $28.25 in a report on Friday, August 6th. Zacks Investment Research downgraded Intersect ENT from a “hold” rating to a “sell” rating and set a $19.00 price target for the company. in a report on Tuesday, May 18th. BTIG Research downgraded Intersect ENT from a “buy” rating to a “neutral” rating in a report on Tuesday, August 10th. SVB Leerink downgraded Intersect ENT from an “outperform” rating to a “market perform” rating and set a $28.25 price target for the company. in a report on Wednesday, August 11th. Finally, Guggenheim downgraded Intersect ENT from a “buy” rating to a “neutral” rating and set a $28.30 price target for the company. in a report on Monday, August 9th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.40.

Shares of NASDAQ XENT traded up $0.15 during midday trading on Wednesday, hitting $27.35. 13,782 shares of the stock traded hands, compared to its average volume of 416,982. The company has a market cap of $911.17 million, a PE ratio of -13.08 and a beta of 1.63. Intersect ENT has a one year low of $14.68 and a one year high of $28.17. The business has a 50 day moving average price of $24.56 and a two-hundred day moving average price of $21.22. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.70 and a current ratio of 2.03.

A number of hedge funds and other institutional investors have recently made changes to their positions in XENT. First Light Asset Management LLC increased its position in shares of Intersect ENT by 66.5% during the 1st quarter. First Light Asset Management LLC now owns 2,036,645 shares of the medical equipment provider’s stock valued at $42,525,000 after purchasing an additional 813,684 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Intersect ENT by 27.0% during the 1st quarter. Artisan Partners Limited Partnership now owns 3,768,171 shares of the medical equipment provider’s stock valued at $78,679,000 after purchasing an additional 801,723 shares during the last quarter. FMR LLC boosted its holdings in Intersect ENT by 26.2% during the 2nd quarter. FMR LLC now owns 3,480,000 shares of the medical equipment provider’s stock valued at $59,473,000 after acquiring an additional 721,649 shares during the period. Rock Springs Capital Management LP boosted its holdings in Intersect ENT by 54.3% during the 1st quarter. Rock Springs Capital Management LP now owns 1,080,200 shares of the medical equipment provider’s stock valued at $22,555,000 after acquiring an additional 380,200 shares during the period. Finally, Millennium Management LLC purchased a new stake in Intersect ENT during the 2nd quarter valued at about $2,274,000. Institutional investors and hedge funds own 87.04% of the company’s stock.

Intersect ENT Company Profile

Intersect ENT, Inc is a commercial drug delivery company, which engages in the treatment of ear, nose, and throat conditions. Its products include PROPEL and SINUVA. The PROPEL used to maintain the opening and locally deliver steroid after sinus surgery. The SINUVA is used to treat adult patients with ethmoid sinus surgery yet suffer from recurrent sinus obstruction due to polyps.

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Earnings History and Estimates for Intersect ENT (NASDAQ:XENT)

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