Catalent Inc (NASDAQ:CTLT)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wells Fargo & Company in a research note issued to investors on Thursday, August 31st. They currently have a $39.00 price objective on the stock, up from their previous price objective of $30.00. Wells Fargo & Company’s price target indicates a potential downside of 1.24% from the company’s previous close.
A number of other research firms also recently weighed in on CTLT. Zacks Investment Research raised Catalent from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Tuesday, August 22nd. William Blair reissued an “ourperform” rating on shares of Catalent in a research note on Tuesday, August 29th. Bank of America Corporation reissued a “buy” rating and issued a $38.00 price target (up previously from $37.00) on shares of Catalent in a research note on Friday, July 21st. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $40.00 price objective on shares of Catalent in a research note on Tuesday, August 29th. Finally, BidaskClub downgraded Catalent from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Catalent currently has a consensus rating of “Buy” and an average target price of $36.80.
Catalent (CTLT) opened at 39.49 on Thursday. The company has a 50 day moving average price of $36.93 and a 200-day moving average price of $33.52. Catalent has a one year low of $21.83 and a one year high of $42.22. The firm has a market capitalization of $4.94 billion and a PE ratio of 45.39.
Catalent (NASDAQ:CTLT) last posted its quarterly earnings results on Monday, August 28th. The company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.08. The company 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 EPS. On average, equities analysts predict that Catalent will post $1.61 EPS for the current year.
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In other Catalent news, SVP Christine Dolan sold 1,594 shares of the stock in a transaction dated 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 is accessible through the SEC website.
Hedge funds have recently added to or reduced their stakes in the business. Acrospire Investment Management LLC increased its holdings in Catalent by 72.2% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,100 shares of the company’s stock worth $109,000 after purchasing an additional 1,300 shares in the last quarter. Quantbot Technologies LP increased its holdings in Catalent by 110.7% during the 2nd quarter. Quantbot Technologies LP now owns 3,434 shares of the company’s stock worth $120,000 after purchasing an additional 1,804 shares in the last quarter. Flinton Capital Management LLC increased its holdings in Catalent by 17.7% during the 1st quarter. Flinton Capital Management LLC now owns 3,616 shares of the company’s stock worth $102,000 after purchasing an additional 544 shares in the last quarter. Meadow Creek Investment Management LLC increased its holdings in Catalent by 17.7% during the 1st quarter. Meadow Creek Investment Management LLC now owns 4,972 shares of the company’s stock worth $141,000 after purchasing an additional 748 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Catalent by 12.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,043 shares of the company’s stock worth $177,000 after purchasing an additional 559 shares in the last quarter.
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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