Sagent Pharmaceuticals Inc. (SGNT) Trading Down 0.1%
Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) shares fell 0.1% during trading on Friday . The stock traded as low as $15.88 and last traded at $16.07, with a volume of 127,183 shares traded. The stock had previously closed at $16.05.
Several brokerages have commented on SGNT. Zacks Investment Research downgraded Sagent Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, June 10th. Royal Bank Of Canada restated an “outperform” rating and set a $20.00 price objective (down from $28.00) on shares of Sagent Pharmaceuticals in a research report on Wednesday, May 4th. Piper Jaffray Cos. restated an “overweight” rating and set a $22.00 price objective (down from $23.00) on shares of Sagent Pharmaceuticals in a research report on Wednesday, May 4th. JPMorgan Chase & Co. restated a “hold” rating and set a $18.00 price objective on shares of Sagent Pharmaceuticals in a research report on Wednesday, May 4th. Finally, Jefferies Group restated a “hold” rating and set a $15.00 price objective (up from $13.00) on shares of Sagent Pharmaceuticals in a research report on Friday, June 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $17.57.
The firm’s 50 day moving average price is $14.09 and its 200 day moving average price is $13.63. The company’s market cap is $508.99 million.
Sagent Pharmaceuticals (NASDAQ:SGNT) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.01 by $0.16. The company earned $67.30 million during the quarter, compared to analysts’ expectations of $74.30 million. The business’s revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share. On average, equities analysts anticipate that Sagent Pharmaceuticals Inc. will post $0.25 EPS for the current fiscal year.
In other news, major shareholder Ventures Fund V. L.P. Vivo sold 2,005 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $13.55, for a total value of $27,167.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several hedge funds have added to or reduced their stakes in SGNT. New York State Common Retirement Fund boosted its stake in Sagent Pharmaceuticals by 27.6% in the fourth quarter. New York State Common Retirement Fund now owns 232,271 shares of the company’s stock worth $3,695,000 after buying an additional 50,258 shares during the last quarter. Tamarack Advisers LP acquired a new stake in Sagent Pharmaceuticals during the fourth quarter worth about $7,160,000. Morgan Stanley boosted its stake in Sagent Pharmaceuticals by 124.9% in the fourth quarter. Morgan Stanley now owns 155,915 shares of the company’s stock worth $2,480,000 after buying an additional 86,578 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Sagent Pharmaceuticals by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 695,669 shares of the company’s stock worth $11,068,000 after buying an additional 9,453 shares during the last quarter.
Sagent Pharmaceuticals, Inc (Sagent), formerly Sagent Holding Co, is an injectable pharmaceutical company that develops and sources products that the Company sells primarily in the United States. Sagent focuses primarily on generic injectable pharmaceuticals. Sagent offers its customers a range of products across anti-infective, oncolytic and critical care indications in a variety of presentations, including single- and multi-dose vials, pre-filled, ready-to-use syringes, medical devices and premix bags.
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