Jennison Associates LLC Sells 616,916 Shares of Intersect ENT, Inc. (XENT)

Jennison Associates LLC lessened its holdings in Intersect ENT, Inc. (NASDAQ:XENT) by 27.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,663,882 shares of the medical equipment provider’s stock after selling 616,916 shares during the period. Jennison Associates LLC owned about 5.70% of Intersect ENT worth $51,830,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Legal & General Group Plc lifted its stake in shares of Intersect ENT by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 6,939 shares of the medical equipment provider’s stock worth $193,000 after purchasing an additional 255 shares during the period. Moors & Cabot Inc. bought a new position in shares of Intersect ENT in the 2nd quarter worth approximately $205,000. Prudential Financial Inc. bought a new position in shares of Intersect ENT in the 2nd quarter worth approximately $229,000. Cubist Systematic Strategies LLC bought a new position in shares of Intersect ENT in the 2nd quarter worth approximately $229,000. Finally, HighTower Advisors LLC bought a new position in shares of Intersect ENT in the 2nd quarter worth approximately $231,000. Hedge funds and other institutional investors own 80.23% of the company’s stock.

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In other news, CFO Jeryl L. Hilleman sold 12,833 shares of Intersect ENT stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $27.78, for a total transaction of $356,500.74. Following the sale, the chief financial officer now owns 27,833 shares in the company, valued at $773,200.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Richard E. Kaufman sold 22,425 shares of Intersect ENT stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $30.22, for a total transaction of $677,683.50. Following the sale, the chief operating officer now owns 149,821 shares in the company, valued at approximately $4,527,590.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,563 shares of company stock worth $3,383,447. 13.70% of the stock is owned by company insiders.

Several brokerages have recently weighed in on XENT. Northland Securities reiterated a “hold” rating and issued a $25.00 price objective on shares of Intersect ENT in a research note on Wednesday, August 2nd. BidaskClub cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Intersect ENT from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th. BTIG Research reiterated a “hold” rating on shares of Intersect ENT in a research note on Tuesday, November 7th. Finally, TheStreet upgraded shares of Intersect ENT from a “d” rating to a “c-” rating in a research note on Tuesday, August 1st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $30.88.

Shares of Intersect ENT, Inc. (NASDAQ XENT) opened at $28.60 on Tuesday. Intersect ENT, Inc. has a one year low of $9.20 and a one year high of $33.25.

Intersect ENT (NASDAQ:XENT) last released its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. Intersect ENT had a negative net margin of 19.81% and a negative return on equity of 15.96%. The company had revenue of $22.31 million for the quarter, compared to analysts’ expectations of $21.53 million. During the same quarter last year, the business earned ($0.22) EPS. The firm’s revenue was up 20.8% compared to the same quarter last year. equities research analysts anticipate that Intersect ENT, Inc. will post -0.63 earnings per share for the current year.

Intersect ENT Company Profile

Intersect ENT, Inc is a commercial-stage drug-device company. The Company develops drugs for patients with ear, nose and throat (ENT) conditions. The Company has developed a drug releasing bioabsorbable implant technology that enables targeted and sustained release of therapeutic agents. This targeted drug delivery technology is designed to allow ENT physicians to manage patient care.

Institutional Ownership by Quarter for Intersect ENT (NASDAQ:XENT)

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