Insider Selling: Vivo Ventures Vi, Llc Sells 622,700 Shares of Sagent Pharmaceuticals Stock (SGNT)
Sagent Pharmaceuticals (NASDAQ:SGNT) major shareholder Vivo Ventures Vi, Llc unloaded 622,700 shares of Sagent Pharmaceuticals stock on the open market in a transaction dated Monday, September 16th. The stock was sold at an average price of $21.25, for a total value of $13,232,375.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
A number of research firms have recently commented on SGNT. Analysts at RBC Capital upgraded shares of Sagent Pharmaceuticals (NASDAQ:SGNT) from a “sector perform” rating to an “outperform” rating in a research note to investors on Wednesday, September 11th. They now have a $25.00 price target on the stock, up previously from $22.00. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Sagent Pharmaceuticals (NASDAQ:SGNT) from $18.00 to $21.00 in a research note to investors on Wednesday, August 7th.
Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Sagent Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $22.96.
Sagent Pharmaceuticals (NASDAQ:SGNT) traded up 0.74% during mid-day trading on Tuesday, hitting $23.13. 120,396 shares of the company’s stock traded hands. Sagent Pharmaceuticals has a 52 week low of $13.39 and a 52 week high of $24.27. The stock’s 50-day moving average is $22.62 and its 200-day moving average is $19.54. The company has a market cap of $652.2 million and a price-to-earnings ratio of 33.28.
Sagent Pharmaceuticals (NASDAQ:SGNT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.46 EPS for the quarter. The company had revenue of $59.60 million for the quarter, compared to the consensus estimate of $59.27 million. Analysts expect that Sagent Pharmaceuticals will post $0.86 EPS for the current fiscal year.
Sagent Pharmaceuticals, Inc (NASDAQ:SGNT) is an injectable pharmaceutical company, which develops and sources products, which the Company sells in the United States.
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