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Intersect ENT, Inc. recently announced preliminary revenue results for first-quarter 2020.Management will provide additional information in conjunction with the release of its first-quarter financial results, expected around mid-May.
The stock fell 13.6% from Apr 13 to Apr 14.
Intersect projects first-quarter 2020 revenues in the band of $19.5-$19.8 million, compared to $26.7 million reported in the first quarter of 2019. The Zacks Consensus Estimate for the same is pinned at $26.7 million.
Moreover, as of Mar 31, 2020, cash and marketable securities are projected in the range of $87-$88 million.
2020 Guidance
Right now, the company cannot gauge the extent or duration of the impact of the COVID-19 pandemic on its financial and operating results. Intersect strongly expects the impact from current government policies, including the suspension of global elective procedures, to substantially dampen its revenues in the second quarter of 2020 and probably beyond it as well. Hence, it withdrew its guidance for 2020, which was issued on Feb 24.
COVID-19 Update
Management noted that prior to the coronavirus outbreak, on account of efforts to enhance commercial execution and improve market access infrastructure, the company’s first-quarter 2020 sales were in line with expectations. However, with the implementation of various COVID-19 restrictions, sales declined throughout March. The company’s business will continue to be affected by hospitals’ suspension of elective surgical procedures and reduced ENT office visits.
Damage-Control Measures
As a response to the economic crisis brought on by the pandemic, the company has taken some key steps to maintain business momentum and provide support to customers. These include protection of health and safety of its employees, maintaining customer focus and reducing costs.
Price Performance
The stock has underperformed its industry over the past three months. The stock has lost 59.1% compared with the 12.5% decline registered by the industry.
Zacks Rank and Key Picks
Currently, Intersect carries a Zacks Rank #4 (Sell).
DexCom’s long-term earnings growth rate is estimated at 36.7%. The company presently carries a Zacks Rank #2.
Surmodics’ long-term earnings growth rate is estimated at 10%. It currently carries a Zacks Rank #2.
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Intersect Posts Preliminary Q1 Results, Withdraws '20 View
Intersect ENT, Inc. recently announced preliminary revenue results for first-quarter 2020.Management will provide additional information in conjunction with the release of its first-quarter financial results, expected around mid-May.
The stock fell 13.6% from Apr 13 to Apr 14.
Intersect projects first-quarter 2020 revenues in the band of $19.5-$19.8 million, compared to $26.7 million reported in the first quarter of 2019. The Zacks Consensus Estimate for the same is pinned at $26.7 million.
Moreover, as of Mar 31, 2020, cash and marketable securities are projected in the range of $87-$88 million.
2020 Guidance
Right now, the company cannot gauge the extent or duration of the impact of the COVID-19 pandemic on its financial and operating results. Intersect strongly expects the impact from current government policies, including the suspension of global elective procedures, to substantially dampen its revenues in the second quarter of 2020 and probably beyond it as well. Hence, it withdrew its guidance for 2020, which was issued on Feb 24.
COVID-19 Update
Management noted that prior to the coronavirus outbreak, on account of efforts to enhance commercial execution and improve market access infrastructure, the company’s first-quarter 2020 sales were in line with expectations. However, with the implementation of various COVID-19 restrictions, sales declined throughout March. The company’s business will continue to be affected by hospitals’ suspension of elective surgical procedures and reduced ENT office visits.
Damage-Control Measures
As a response to the economic crisis brought on by the pandemic, the company has taken some key steps to maintain business momentum and provide support to customers. These include protection of health and safety of its employees, maintaining customer focus and reducing costs.
Price Performance
The stock has underperformed its industry over the past three months. The stock has lost 59.1% compared with the 12.5% decline registered by the industry.
Zacks Rank and Key Picks
Currently, Intersect carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader medical space are ResMed Inc. (RMD - Free Report) , DexCom (DXCM - Free Report) and Surmodics (SRDX - Free Report) .
ResMed has a projected long-term earnings growth rate of 12%. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DexCom’s long-term earnings growth rate is estimated at 36.7%. The company presently carries a Zacks Rank #2.
Surmodics’ long-term earnings growth rate is estimated at 10%. It currently carries a Zacks Rank #2.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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