Insider Selling: Sagent Pharmaceuticals Major Shareholder Sells 88,885 Shares of Stock (SGNT)
Sagent Pharmaceuticals (NASDAQ:SGNT) major shareholder Morgan Stanley Investment Mana sold 88,885 shares of the stock on the open market in a transaction dated Thursday, September 19th. The shares were sold at an average price of $22.53, for a total value of $2,002,579.05. The sale was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
A number of analysts have recently weighed in on SGNT shares. 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Sagent Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $22.96.
Sagent Pharmaceuticals (NASDAQ:SGNT) traded down 0.54% during mid-day trading on Friday, hitting $21.92. The stock had a trading volume of 393,387 shares. Sagent Pharmaceuticals has a 1-year low of $13.39 and a 1-year high of $24.27. The stock has a 50-day moving average of $22.6 and a 200-day moving average of $19.63. The company has a market cap of $618.1 million and a price-to-earnings ratio of 31.94.
Sagent Pharmaceuticals (NASDAQ:SGNT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.46 earnings per share 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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