Teligent, Inc. (NASDAQ:TLGT) Issues Quarterly Earnings Results
Teligent, Inc. (NASDAQ:TLGT) issued its quarterly earnings results on Tuesday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.03, Briefing.com reports. Teligent had a negative net margin of 14.35% and a positive return on equity of 5.43%. The business had revenue of $18.40 million during the quarter, compared to analyst estimates of $20.11 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis.
Teligent (NASDAQ TLGT) opened at 7.02 on Wednesday. The firm’s market capitalization is $373.65 million. Teligent has a 1-year low of $5.75 and a 1-year high of $9.54. The stock’s 50 day moving average is $8.60 and its 200 day moving average is $8.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TLGT. Russell Investments Group Ltd. raised its position in Teligent by 124.1% in the second quarter. Russell Investments Group Ltd. now owns 1,043,046 shares of the company’s stock worth $9,544,000 after buying an additional 577,635 shares during the last quarter. Vanguard Group Inc. increased its stake in Teligent by 10.4% in the first quarter. Vanguard Group Inc. now owns 1,976,891 shares of the company’s stock worth $15,440,000 after buying an additional 185,624 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in Teligent during the first quarter worth about $612,000. Columbus Circle Investors increased its stake in Teligent by 62.6% in the first quarter. Columbus Circle Investors now owns 196,430 shares of the company’s stock worth $1,534,000 after buying an additional 75,595 shares during the period. Finally, Marshall Wace North America L.P. bought a new stake in Teligent during the second quarter worth about $619,000. 62.75% of the stock is currently owned by institutional investors.
Several equities research analysts have issued reports on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $11.00 price target on shares of Teligent in a research note on Tuesday. BidaskClub lowered shares of Teligent from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Zacks Investment Research lowered shares of Teligent from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. ValuEngine lowered shares of Teligent from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Deutsche Bank AG restated a “hold” rating and set a $9.00 price objective (up from $8.00) on shares of Teligent in a research note on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Teligent has a consensus rating of “Hold” and an average target price of $9.50.
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Teligent, Inc is a specialty generic pharmaceutical company. Under the Company’s own label, it markets and sells generic injectable pharmaceutical products in the United States and Canada. In the United States it marketed 16 generic topical pharmaceutical products and four branded generic pharmaceutical products, as of December 31, 2016.
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