Zacks Investment Research Lowers Catalent Inc (CTLT) to Hold
Catalent Inc (NASDAQ:CTLT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Catalent, Inc. provides advanced delivery technologies and development solutions for drugs, biologics and consumer health products. It operates through Oral Technologies, Medication Delivery Solutions, and Development & Clinical Services. The Oral Technologies segment address the full diversity of the pharmaceutical industry including small molecules, large molecule biologics and consumer health products. The Medication Delivery Solutions segment offers formulation, development, and manufacturing services for delivery of drugs and biologics administered through injection, inhalation, and ophthalmic routes. The Development and Clinical Services segment provides manufacturing, packaging, storage, and inventory management services for drugs and biologics in clinical trials. Catalent, Inc. is headquartered in Somerset, New Jersey. “
A number of other research analysts also recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Catalent in a research note on Monday, October 23rd. BidaskClub upgraded Catalent from a “hold” rating to a “buy” rating in a research note on Thursday, October 5th. ValuEngine downgraded Catalent from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Morgan Stanley upgraded Catalent from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $29.00 to $48.00 in a research note on Thursday, September 21st. Finally, Bank of America Corporation restated a “buy” rating and set a $45.00 price target (up previously from $40.00) on shares of Catalent in a research note on Wednesday, September 20th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $41.67.
Catalent (CTLT) traded up $0.70 during trading hours on Friday, reaching $42.70. The company had a trading volume of 910,929 shares, compared to its average volume of 1,150,000. Catalent has a 12-month low of $21.85 and a 12-month high of $43.39.
Catalent (NASDAQ:CTLT) last released its quarterly earnings results on Monday, August 28th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. The firm had revenue of $616.90 million for the quarter, compared to the consensus estimate of $547.48 million. Catalent had a return on equity of 36.29% and a net margin of 10.02%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS.
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In other Catalent news, SVP Christine Dolan sold 1,594 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $38.75, for a total transaction of $61,767.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several institutional investors and hedge funds have recently bought and sold shares of CTLT. OppenheimerFunds Inc. lifted its holdings in shares of Catalent by 29.2% in the 1st quarter. OppenheimerFunds Inc. now owns 18,737 shares of the company’s stock valued at $530,000 after buying an additional 4,237 shares during the period. Teachers Advisors LLC lifted its holdings in shares of Catalent by 5.0% in the 1st quarter. Teachers Advisors LLC now owns 173,062 shares of the company’s stock valued at $4,901,000 after buying an additional 8,314 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Catalent by 66.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,070 shares of the company’s stock valued at $173,000 after buying an additional 2,425 shares during the period. Legal & General Group Plc lifted its holdings in shares of Catalent by 46.4% in the 1st quarter. Legal & General Group Plc now owns 82,380 shares of the company’s stock valued at $2,335,000 after buying an additional 26,098 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Catalent by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 9,749,905 shares of the company’s stock valued at $276,118,000 after buying an additional 303,213 shares during the period.
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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