Sagent Pharmaceuticals Inc. (SGNT) Stock Price Up 5.3%
Sagent Pharmaceuticals Inc. (NASDAQ:SGNT)’s share price traded up 5.3% on Wednesday . The company traded as high as $15.76 and last traded at $15.63, with a volume of 208,074 shares traded. The stock had previously closed at $14.85.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Sagent Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. Jefferies Group restated a “hold” rating and set a $15.00 target price (up previously from $13.00) on shares of Sagent Pharmaceuticals in a research report on Friday, June 17th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Sagent Pharmaceuticals in a research report on Wednesday, June 1st. Bank of America Corp. restated a “hold” rating and set a $13.00 target price on shares of Sagent Pharmaceuticals in a research report on Monday, May 9th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $20.00 target price (down previously from $28.00) on shares of Sagent Pharmaceuticals in a research report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $17.57.
The firm’s market capitalization is $511.94 million. The company’s 50-day moving average is $13.73 and its 200-day moving average is $13.59.
Sagent Pharmaceuticals (NASDAQ:SGNT) last posted its earnings results on Tuesday, May 3rd. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.01 by $0.16. The firm had revenue of $67.30 million for the quarter, compared to analysts’ expectations of $74.30 million. Sagent Pharmaceuticals’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period last year, the business posted $0.04 earnings per share. Equities research analysts forecast 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 Sagent Pharmaceuticals stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $13.55, for a total transaction of $27,167.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
A number of large investors recently modified their holdings of SGNT. Eagle Asset Management Inc. raised its stake in shares of Sagent Pharmaceuticals by 174.2% in the fourth quarter. Eagle Asset Management Inc. now owns 1,006,183 shares of the company’s stock valued at $16,008,000 after buying an additional 639,254 shares during the last quarter. Tamarack Advisers LP bought a new stake in shares of Sagent Pharmaceuticals during the fourth quarter valued at approximately $7,160,000. New York State Common Retirement Fund raised its stake in shares of 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 valued at $3,695,000 after buying an additional 50,258 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Sagent Pharmaceuticals by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 157,538 shares of the company’s stock valued at $2,506,000 after buying an additional 7,381 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Sagent Pharmaceuticals by 124.9% in the fourth quarter. Morgan Stanley now owns 155,915 shares of the company’s stock valued at $2,480,000 after buying an additional 86,578 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.