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Intersect ENT (XENT) Posts Preliminary Q3 Data, Dull Q4 View
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Intersect ENT, Inc. announced preliminary revenue results for third-quarter 2020 on Oct 15, 2020. Management will provide additional information in conjunction with the release of its third-quarter financial results, which is scheduled for November 2.
Intersect ENT projects third-quarter 2020 revenues in the band of $22.4-$22.8 million. The Zacks Consensus Estimate for the same is pinned at $22.6 million.
The company expects to report the strongest quarterly revenue to date of approximately $1.7 million for its SINUVA product line. Moreover, as of Sep 2020, cash and marketable securities are expected to be approximately $130 million.
The company is upbeat about the continuation of increased sequential sinus surgery procedure demand leading to strong volumes of PROPEL. Further, notable year-on-year growth of the PROPEL product line in the office setting has also been observed. The closing of the buyout deal of Fiagon AG Medical Technologies has enabled Intersect ENT to strengthen its commercial product portfolio and expand geographical footprint.
Guidance
Intersect ENT expects fourth-quarter revenues to be 85-90% of fourth-quarter 2019 revenues based on the ongoing difficult elective procedure volumes and referral trends.
However, it expects to post higher revenues in 2021 compared to 2019.
Post the announcement of a downbeat Q4 guidance, the stock fell 8.3% to close at $16.23 yesterday.
Price Performance
The stock has outperformed its industry over the past six months. The stock has gained 55.6% compared with the 30.9% rise of the industry and 25.2% growth of the S&P 500 composite.
Zacks Rank and Key Picks
Currently, Intersect ENT carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are QIAGEN N.V. (QGEN - Free Report) , Thermo Fisher Scientific Inc. (TMO - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
Thermo Fisher’s long-term earnings growth rate is estimated at 15.5%. It currently sports a Zacks Rank #1.
Boston Scientific’s long-term earnings growth rate is estimated at 10%. The company presently carries a Zacks Rank #2 (Buy).
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Intersect ENT (XENT) Posts Preliminary Q3 Data, Dull Q4 View
Intersect ENT, Inc. announced preliminary revenue results for third-quarter 2020 on Oct 15, 2020. Management will provide additional information in conjunction with the release of its third-quarter financial results, which is scheduled for November 2.
Intersect ENT projects third-quarter 2020 revenues in the band of $22.4-$22.8 million. The Zacks Consensus Estimate for the same is pinned at $22.6 million.
The company expects to report the strongest quarterly revenue to date of approximately $1.7 million for its SINUVA product line. Moreover, as of Sep 2020, cash and marketable securities are expected to be approximately $130 million.
The company is upbeat about the continuation of increased sequential sinus surgery procedure demand leading to strong volumes of PROPEL. Further, notable year-on-year growth of the PROPEL product line in the office setting has also been observed. The closing of the buyout deal of Fiagon AG Medical Technologies has enabled Intersect ENT to strengthen its commercial product portfolio and expand geographical footprint.
Guidance
Intersect ENT expects fourth-quarter revenues to be 85-90% of fourth-quarter 2019 revenues based on the ongoing difficult elective procedure volumes and referral trends.
However, it expects to post higher revenues in 2021 compared to 2019.
Post the announcement of a downbeat Q4 guidance, the stock fell 8.3% to close at $16.23 yesterday.
Price Performance
The stock has outperformed its industry over the past six months. The stock has gained 55.6% compared with the 30.9% rise of the industry and 25.2% growth of the S&P 500 composite.
Zacks Rank and Key Picks
Currently, Intersect ENT carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are QIAGEN N.V. (QGEN - Free Report) , Thermo Fisher Scientific Inc. (TMO - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
QIAGEN’s long-term earnings growth rate is estimated at 17.2%. It currently flaunts a Zacks Rank #1. (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Thermo Fisher’s long-term earnings growth rate is estimated at 15.5%. It currently sports a Zacks Rank #1.
Boston Scientific’s long-term earnings growth rate is estimated at 10%. The company presently carries a Zacks Rank #2 (Buy).
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>