Catalent Inc (NASDAQ:CTLT) dropped 3% during trading on Friday . The company traded as low as $24.53 and last traded at $24.57, with a volume of 817,583 shares changing hands. The stock had previously closed at $25.34.

CTLT has been the subject of a number of recent analyst reports. Bank of America Corp. upgraded Catalent from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Monday, June 20th. They noted that the move was a valuation call. Jefferies Group reissued a “hold” rating and issued a $25.00 target price on shares of Catalent in a research note on Friday, June 10th. Zacks Investment Research raised Catalent from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, Wells Fargo & Co. raised Catalent from a “market perform” rating to an “outperform” rating in a research note on Tuesday, June 21st.

The stock’s 50-day moving average price is $24.15 and its 200-day moving average price is $25.31. The firm has a market capitalization of $3.07 billion and a PE ratio of 15.30.

In related news, major shareholder Blackstone Management Associat sold 8,785,539 shares of the firm’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $24.51, for a total transaction of $215,333,560.89. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Matthew M. Walsh sold 21,197 shares of the firm’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $28.85, for a total value of $611,533.45. Following the sale, the insider now directly 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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