Traders Sell Shares of Sagent Pharmaceuticals Inc. (SGNT) on Strength (SGNT)
Traders sold shares of Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) on strength during trading on Wednesday. $1.32 million flowed into the stock on the tick-up and $24.95 million flowed out of the stock on the tick-down, for a money net flow of $23.63 million out of the stock. Of all companies tracked, Sagent Pharmaceuticals had the 0th highest net out-flow for the day. Sagent Pharmaceuticals traded up $0.05 for the day and closed at $21.69
A number of equities research analysts recently weighed in on SGNT shares. Zacks Investment Research upgraded Sagent Pharmaceuticals from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Tuesday, July 12th. Bank of America Corp. restated a “hold” rating and issued a $13.00 price target on shares of Sagent Pharmaceuticals in a report on Monday, May 9th. JPMorgan Chase & Co. restated a “hold” rating and issued a $18.00 price target on shares of Sagent Pharmaceuticals in a report on Wednesday, May 4th. Jefferies Group restated a “hold” rating and issued a $15.00 price target (up previously from $13.00) on shares of Sagent Pharmaceuticals in a report on Friday, June 17th. Finally, Royal Bank Of Canada lowered Sagent Pharmaceuticals from an “outperform” rating to a “hold” rating in a research note on Monday, July 11th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.54.
The company’s market cap is $712.26 million. The stock’s 50 day moving average price is $17.35 and its 200-day moving average price is $14.23.
Sagent Pharmaceuticals (NASDAQ:SGNT) last issued its earnings results on Tuesday, May 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.16. During the same quarter in the prior year, the company earned $0.04 earnings per share. The business had revenue of $67.30 million for the quarter, compared to analysts’ expectations of $74.30 million. The firm’s revenue was down 17.9% compared to the same quarter last year. On average, equities research analysts forecast that Sagent Pharmaceuticals Inc. will post $0.25 earnings per share for the current year.
An institutional investor recently raised its position in Sagent Pharmaceuticals stock. New York State Common Retirement Fund raised its position in shares of Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) by 27.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 232,271 shares of the company’s stock after buying an additional 50,258 shares during the period. New York State Common Retirement Fund owned about 0.71% of Sagent Pharmaceuticals worth $3,695,000 at the end of the most recent reporting period.
Sagent Pharmaceuticals, Inc is a specialty and generic pharmaceutical company. The Company is a provider of pharmaceuticals to the hospital market, which it sells primarily throughout North America. It is focused on developing, manufacturing, sourcing and marketing injectable pharmaceutical products to the hospital market.
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