Stephens Begins Coverage on Catalent Inc (CTLT)
Stephens started coverage on shares of Catalent Inc (NASDAQ:CTLT) in a report released on Tuesday, The Fly reports. The brokerage set an “overweight” rating on the stock.
Several other research firms have also weighed in on CTLT. Jefferies Group reiterated a “hold” rating and issued a $25.00 target price on shares of Catalent in a report on Tuesday, August 30th. Morgan Stanley reiterated a “hold” rating on shares of Catalent in a report on Tuesday, August 30th. Wells Fargo & Co. upgraded shares of Catalent from a “market perform” rating to an “outperform” rating in a report on Tuesday, June 21st. Bank of America Corp. upgraded shares of Catalent from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Monday, June 20th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Catalent from a “hold” rating to a “strong sell” rating in a report on Monday, August 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $28.67.
Shares of Catalent (NASDAQ:CTLT) opened at 23.40 on Tuesday. The firm has a market cap of $2.92 billion and a price-to-earnings ratio of 26.29. Catalent has a 1-year low of $18.92 and a 1-year high of $32.24. The company has a 50 day moving average of $25.23 and a 200 day moving average of $25.57.
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Catalent (NASDAQ:CTLT) last posted its earnings results on Monday, August 29th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The business had revenue of $532.20 million for the quarter. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $0.61 EPS. On average, equities analysts forecast that Catalent will post $1.40 earnings per share for the current fiscal year.
In related news, major shareholder Blackstone Management Associat sold 17,100,705 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $23.58, for a total value of $403,234,623.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTLT. Commerce Bank increased its position in Catalent by 0.7% in the second quarter. Commerce Bank now owns 17,115 shares of the company’s stock worth $393,000 after buying an additional 115 shares during the period. FDx Advisors Inc. increased its position in Catalent by 7.7% in the second quarter. FDx Advisors Inc. now owns 8,965 shares of the company’s stock worth $206,000 after buying an additional 644 shares during the period. Oregon Public Employees Retirement Fund increased its position in Catalent by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 37,259 shares of the company’s stock worth $963,000 after buying an additional 739 shares during the period. SG Americas Securities LLC increased its position in Catalent by 3.5% in the second quarter. SG Americas Securities LLC now owns 25,322 shares of the company’s stock worth $582,000 after buying an additional 862 shares during the period. Finally, Nuveen Asset Management LLC increased its position in Catalent by 2.1% in the second quarter. Nuveen Asset Management LLC now owns 45,802 shares of the company’s stock worth $1,053,000 after buying an additional 928 shares during the period.
Catalent Company Profile
Catalent, Inc provides delivery technologies and development solutions for drugs, biologics, and consumer and animal health products. Its segments include Softgel Technologies, Drug Delivery Solutions and Clinical Supply Services. The Softgel Technologies segment is engaged in the formulation, development and manufacturing of prescription and consumer health soft capsules or softgels.
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