Sagent Pharmaceuticals Inc. (SGNT) Sees Unusually-High Trading Volume
Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) saw unusually-strong trading volume on Monday . Approximately 15,576,040 shares changed hands during mid-day trading, an increase of 1,230% from the previous session’s volume of 1,171,430 shares.The stock last traded at $21.65 and had previously closed at $15.50.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Sagent Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Bank of America Corp. reaffirmed a “hold” rating and issued a $13.00 target price on shares of Sagent Pharmaceuticals in a research note on Monday, May 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Sagent Pharmaceuticals in a research note on Wednesday, June 1st. Jefferies Group reaffirmed a “hold” rating and issued a $15.00 target price (up from $13.00) on shares of Sagent Pharmaceuticals in a research note on Friday, June 17th. Finally, Royal Bank Of Canada downgraded shares of Sagent Pharmaceuticals from an “outperform” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $17.57.
The firm’s market cap is $710.94 million. The company’s 50-day moving average price is $14.38 and its 200 day moving average price is $13.63.
Sagent Pharmaceuticals (NASDAQ:SGNT) last posted its earnings results on Tuesday, May 3rd. The company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.16. The business earned $67.30 million during the quarter, compared to the consensus estimate of $74.30 million. During the same quarter in the prior year, the company earned $0.04 EPS. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, equities analysts predict that Sagent Pharmaceuticals Inc. will post $0.25 EPS for the current fiscal year.
In other Sagent Pharmaceuticals news, major shareholder Ventures Fund V. L.P. Vivo sold 2,005 shares of Sagent Pharmaceuticals stock in a transaction 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 filing with the SEC, which is available at this link.
A number of large investors have bought and sold shares of SGNT. Morgan Stanley increased 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 in the last quarter. New York State Common Retirement Fund increased 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 in the last quarter. Tamarack Advisers LP acquired a new stake in Sagent Pharmaceuticals during the fourth quarter worth approximately $7,160,000. Finally, Dimensional Fund Advisors LP increased 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 in 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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