Jennison Associates LLC Invests $2.82 Million in Intersect ENT Inc (NASDAQ:XENT) Stock

Jennison Associates LLC bought a new position in Intersect ENT Inc (NASDAQ:XENT) in the 1st quarter, HoldingsChannel reports. The fund bought 87,801 shares of the medical equipment provider’s stock, valued at approximately $2,823,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of XENT. NumerixS Investment Technologies Inc boosted its stake in Intersect ENT by 43.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 2,200 shares of the medical equipment provider’s stock worth $60,000 after buying an additional 662 shares in the last quarter. Quantamental Technologies LLC boosted its stake in Intersect ENT by 211.0% in the first quarter. Quantamental Technologies LLC now owns 1,950 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 1,323 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Intersect ENT by 183.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,617 shares of the medical equipment provider’s stock worth $74,000 after buying an additional 1,694 shares in the last quarter. Legal & General Group Plc boosted its stake in Intersect ENT by 14.8% in the fourth quarter. Legal & General Group Plc now owns 5,353 shares of the medical equipment provider’s stock worth $151,000 after buying an additional 690 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Intersect ENT by 62,220.0% in the first quarter. BNP Paribas Arbitrage SA now owns 6,232 shares of the medical equipment provider’s stock worth $200,000 after buying an additional 6,222 shares in the last quarter. 92.00% of the stock is owned by institutional investors and hedge funds.

Several brokerages have issued reports on XENT. BidaskClub lowered Intersect ENT from a “hold” rating to a “sell” rating in a research note on Saturday, June 1st. ValuEngine lowered Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. Zacks Investment Research lowered Intersect ENT from a “hold” rating to a “strong sell” rating in a research note on Friday, May 3rd. BTIG Research reaffirmed a “hold” rating on shares of Intersect ENT in a research note on Tuesday, February 26th. Finally, Svb Leerink lowered Intersect ENT from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $41.00 to $29.00 in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $30.96.

In other news, CFO Jeryl L. Hilleman sold 30,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $32.07, for a total transaction of $962,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa D. Earnhardt sold 29,588 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $28.43, for a total value of $841,186.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,096 shares of company stock valued at $3,658,625. Insiders own 6.50% of the company’s stock.

NASDAQ:XENT opened at $24.24 on Tuesday. The company has a market cap of $738.66 million, a PE ratio of -31.89 and a beta of 0.90. Intersect ENT Inc has a fifty-two week low of $22.50 and a fifty-two week high of $42.55.

Intersect ENT (NASDAQ:XENT) last released its quarterly earnings data on Monday, May 6th. The medical equipment provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). The company had revenue of $26.70 million for the quarter, compared to analysts’ expectations of $26.34 million. Intersect ENT had a negative net margin of 24.99% and a negative return on equity of 22.90%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company posted ($0.21) EPS. As a group, sell-side analysts forecast that Intersect ENT Inc will post -1.32 EPS for the current year.

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About Intersect ENT

Intersect ENT, Inc, a drug delivery company, researches and develops products for the treatment of patients with ear, nose, and throat conditions in the United States. The company offers PROPEL and PROPEL mini drug releasing implants for patients undergoing sinus surgery to treat chronic sinusitis; and PROPEL Contour, a steroid releasing implant to frontal and maxillary sinus ostia, or openings, of the dependent sinuses.

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

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