Sagent Pharmaceuticals Inc. (SGNT) Trading 5.3% Higher
Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) traded up 5.3% during mid-day trading on Wednesday . The company traded as high as $15.76 and last traded at $15.63, with a volume of 208,074 shares changing hands. The stock had previously closed at $14.85.
Several equities research analysts have issued reports on SGNT shares. Zacks Investment Research upgraded shares of Sagent Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Jefferies Group reiterated a “hold” rating and set a $15.00 price objective (up from $13.00) on shares of Sagent Pharmaceuticals in a research note on Friday, June 17th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Sagent Pharmaceuticals in a research note on Wednesday, June 1st. Royal Bank Of Canada reiterated an “outperform” rating and set a $20.00 price objective (down from $28.00) on shares of Sagent Pharmaceuticals in a research note on Wednesday, May 4th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $22.00 price objective (down from $23.00) on shares of Sagent Pharmaceuticals in a research note on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $17.57.
The company has a 50-day moving average price of $13.98 and a 200-day moving average price of $13.63. The stock’s market cap is $532.96 million.
Sagent Pharmaceuticals (NASDAQ:SGNT) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.16. The business had revenue of $67.30 million for the quarter, compared to the consensus estimate of $74.30 million. The company’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 earnings per share. Equities analysts anticipate that Sagent Pharmaceuticals Inc. will post $0.25 EPS for the current year.
In other news, major shareholder Ventures Fund V. L.P. Vivo sold 2,005 shares of the stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $13.55, for a total value of $27,167.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Several hedge funds recently bought and sold shares of the company. Morgan Stanley raised 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 period. New York State Common Retirement Fund increased its position 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 purchased a new position in Sagent Pharmaceuticals during the fourth quarter worth approximately $7,160,000. Finally, Eagle Asset Management Inc. increased its position in Sagent Pharmaceuticals by 174.2% in the fourth quarter. Eagle Asset Management Inc. now owns 1,006,183 shares of the company’s stock worth $16,008,000 after buying an additional 639,254 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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