Insider Selling: Robert J. Flanagan Sells 16,000 Shares of Sagent Pharmaceuticals Stock (SGNT)
Sagent Pharmaceuticals (NASDAQ:SGNT) Director Robert J. Flanagan sold 16,000 shares of Sagent Pharmaceuticals stock on the open market in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $23.37, for a total value of $373,920.00. Following the completion of the sale, the director now directly owns 6,996 shares in the company, valued at approximately $163,497. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Sagent Pharmaceuticals (NASDAQ:SGNT) traded up 1.07% during mid-day trading on Wednesday, hitting $23.65. 178,935 shares of the company’s stock traded hands. Sagent Pharmaceuticals has a 1-year low of $17.49 and a 1-year high of $26.08. The stock’s 50-day moving average is $21.99 and its 200-day moving average is $22.1. The company has a market cap of $753.6 million and a price-to-earnings ratio of 28.82.
Sagent Pharmaceuticals (NASDAQ:SGNT) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.02) by $0.18. The company had revenue of $70.90 million for the quarter, compared to the consensus estimate of $65.66 million. Sagent Pharmaceuticals’s revenue was up 17.8% compared to the same quarter last year. Analysts expect that Sagent Pharmaceuticals will post $0.14 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of Sagent Pharmaceuticals in a research note on Thursday, May 15th. They now have a $23.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Sagent Pharmaceuticals in a research note on Wednesday, May 7th. They now have a $24.00 price target on the stock, up previously from $22.00. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.62.
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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