Catalent Inc (CTLT) Shares Up 4%
Shares of Catalent Inc (NASDAQ:CTLT) shot up 4% during mid-day trading on Tuesday . The stock traded as high as $25.81 and last traded at $25.70, with a volume of 768,529 shares changing hands. The stock had previously closed at $24.70.
CTLT has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Catalent from a “hold” rating to a “strong sell” rating in a research report on Monday, August 15th. Jefferies Group reiterated a “hold” rating on shares of Catalent in a research report on Thursday, August 4th. TheStreet upgraded shares of Catalent from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Wells Fargo & Co. upgraded shares of Catalent from a “market perform” rating to an “outperform” rating in a research report on Tuesday, June 21st. Finally, Bank of America Corp. upgraded shares of Catalent from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Monday, June 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $26.50.
The company has a 50-day moving average of $24.57 and a 200-day moving average of $25.44. The company has a market cap of $3.18 billion and a PE ratio of 15.88.
In other Catalent news, major shareholder Blackstone Management Associat sold 8,785,539 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $24.51, for a total transaction of $215,333,560.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew M. Walsh sold 21,197 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $28.85, for a total transaction of $611,533.45. Following the transaction, the insider now directly owns 105,688 shares of the company’s stock, valued at $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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