Catalent Inc (CTLT) Trading Down 1.7%
Catalent Inc (NASDAQ:CTLT)’s share price dropped 1.7% on Friday . The stock traded as low as $24.07 and last traded at $24.24, with a volume of 233,759 shares trading hands. The stock had previously closed at $24.66.
CTLT has been the topic of several recent research reports. Wells Fargo & Co. raised shares of Catalent from a “market perform” rating to an “outperform” rating in a research 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 price objective for the company in a research note on Monday, June 20th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Catalent from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, Jefferies Group reiterated a “hold” rating and issued a $25.00 price objective on shares of Catalent in a research note on Friday, June 10th.
The company’s 50 day moving average is $23.44 and its 200-day moving average is $25.21. The stock has a market capitalization of $3.02 billion and a PE ratio of 15.06.
In related news, major shareholder Blackstone Management Associat sold 8,785,539 shares of the business’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $24.51, for a total transaction of $215,333,560.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Matthew M. Walsh sold 21,197 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $28.85, for a total transaction of $611,533.45. Following the transaction, the insider now owns 105,688 shares in the company, valued at approximately $3,049,098.80. The disclosure for this sale can be found here.
Catalent, Inc is a provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products. The Company’s segments include Oral Technologies, Medication Delivery Solutions, and Development and Clinical Services. The Oral Technologies segment provides advanced oral delivery technologies, including formulation, development and manufacturing of oral dose forms for prescription and consumer health products across all phases of a molecule’s lifecycle.
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