Catamaran Corp Downgraded to “Equal Weight” at Morgan Stanley (CTRX)
Catamaran Corp (NASDAQ:CTRX) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, StockRatingsNetwork reports. They currently have a $60.00 price objective on the stock. Morgan Stanley’s target price suggests a potential upside of 21.16% from the company’s current price.
The analysts wrote, “A maturing growth profile and premium to the group likely cap CTRX’s multiple expansion opportunity. While we think mgmt will execute and grow EPS via M&A and CI, with topline CAGR moderating to 25% thru ’15 vs. 75% from ’08-’13E and given evolving PBM dynamics, we view risk-reward as balanced.”
A number of other analysts have also recently weighed in on CTRX. Analysts at Jefferies Group reiterated a “buy” rating on shares of Catamaran Corp (NASDAQ:CTRX) in a research note to investors on Thursday, August 8th. They now have a $70.00 price target on the stock, up previously from $65.00. Analysts at ISI Group upgraded shares of Catamaran Corp (NASDAQ:CTRX) from a “buy” rating to a “strong-buy” rating in a research note to investors on Monday, July 15th. They now have a $62.00 price target on the stock, down previously from $68.00.
Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $62.33.
Catamaran Corp (NASDAQ:CTRX) traded down 2.67% during mid-day trading on Monday, hitting $48.20. The stock had a trading volume of 538,710 shares. Catamaran Corp has a 1-year low of $45.43 and a 1-year high of $58.73. The stock’s 50-day moving average is $55.51 and its 200-day moving average is $52.81. The company has a market cap of $9.936 billion and a P/E ratio of 57.18.
Catamaran Corp (NASDAQ:CTRX) last released its earnings data on Thursday, August 1st. The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.05. The company had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.47 billion. Catamaran Corp’s revenue was up 100.7% compared to the same quarter last year. On average, analysts predict that Catamaran Corp will post $1.90 earnings per share for the current fiscal year.
Catamaran Corporation (NASDAQ:CTRX), formerly SXC Health Solutions Corp.
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