Intersect ENT shares ended the last trading session 5.2% higher at $17.34. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.6% loss over the past four weeks.
The stock rallied for the third consecutive day driven by optimism surrounding the company’s better-than-expected revenue results for first-quarter 2021 on strong recovery in demand for elective surgical procedures. Management’s projection of sequential improvement throughout the business in the second quarter and beyond, based on improving trends for elective and office-based sinus procedures, has also contributed to the price appreciation. Considering the improvement in the pandemic situation, the company has raised its 2021 outlook. Moreover, the market is optimistic about management’s conviction that Intersect ENT is now well-positioned to achieve sustainable year-on-year growth.
This maker of absorbable nasal implants is expected to post quarterly loss of $0.42 per share in its upcoming report, which represents a year-over-year change of +35.4%. Revenues are expected to be $27.59 million, up 182.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Intersect ENT, the consensus EPS estimate for the quarter has been revised 1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on XENT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Intersect ENT (XENT) Surges 5.2%: Is This an Indication of Further Gains?
Intersect ENT shares ended the last trading session 5.2% higher at $17.34. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.6% loss over the past four weeks.
The stock rallied for the third consecutive day driven by optimism surrounding the company’s better-than-expected revenue results for first-quarter 2021 on strong recovery in demand for elective surgical procedures. Management’s projection of sequential improvement throughout the business in the second quarter and beyond, based on improving trends for elective and office-based sinus procedures, has also contributed to the price appreciation. Considering the improvement in the pandemic situation, the company has raised its 2021 outlook. Moreover, the market is optimistic about management’s conviction that Intersect ENT is now well-positioned to achieve sustainable year-on-year growth.
This maker of absorbable nasal implants is expected to post quarterly loss of $0.42 per share in its upcoming report, which represents a year-over-year change of +35.4%. Revenues are expected to be $27.59 million, up 182.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Intersect ENT, the consensus EPS estimate for the quarter has been revised 1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on XENT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>