Zacks Investment Research Upgrades Catalent (NYSE:CTLT) to Buy
Catalent (NYSE:CTLT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The firm presently has a $58.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 12.95% from the company’s current price.
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. “
Other equities analysts have also issued research reports about the company. UBS Group upped their price objective on Catalent to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley upped their price objective on Catalent from $50.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Robert W. Baird upped their price objective on Catalent from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Finally, Jefferies Financial Group raised Catalent from a “hold” rating to a “buy” rating and upped their price objective for the stock from $50.00 to $62.00 in a research note on Friday, June 21st. Eight research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $57.00.
Catalent (NYSE:CTLT) last issued its quarterly earnings results on Tuesday, August 27th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $725.70 million during the quarter, compared to analysts’ expectations of $719.20 million. Catalent had a return on equity of 15.89% and a net margin of 5.46%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 earnings per share. On average, equities research analysts predict that Catalent will post 1.81 EPS for the current year.
In related news, insider Barry Littlejohns sold 15,940 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $53.53, for a total transaction of $853,268.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Steven L. Fasman sold 4,053 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $54.04, for a total value of $219,024.12. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. bought a new position in Catalent during the second quarter valued at approximately $7,481,000. Atria Investments LLC bought a new position in Catalent during the second quarter valued at approximately $207,000. Treasurer of the State of North Carolina boosted its stake in Catalent by 4.8% during the second quarter. Treasurer of the State of North Carolina now owns 73,619 shares of the company’s stock valued at $3,991,000 after buying an additional 3,370 shares during the last quarter. BlackRock Inc. boosted its stake in Catalent by 2.8% during the second quarter. BlackRock Inc. now owns 14,307,589 shares of the company’s stock valued at $775,615,000 after buying an additional 388,615 shares during the last quarter. Finally, Chartwell Investment Partners LLC bought a new position in Catalent during the second quarter valued at approximately $3,362,000.
Catalent Company Profile
Catalent, Inc provides delivery technologies and development solutions for drugs, biologics, and consumer and animal health products worldwide. It operates through four segments: Softgel Technologies, Biologics and Specialty Drug Delivery, Oral Drug Delivery, and Clinical Supply Services. The Softgel Technologies segment formulates, develops, and manufactures prescription and consumer soft capsules for use in a range of customer products, such as prescription drugs, over-the-counter medications, dietary supplements, unit-dose cosmetics, and animal health medicinal preparations.
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