Jefferies Group Analysts Increase Earnings Estimates for Catalent Inc (CTLT)
Catalent Inc (NASDAQ:CTLT) – Jefferies Group lifted their Q1 2017 earnings per share estimates for Catalent in a report released on Thursday. Jefferies Group analyst D. Windley now expects that the firm will post earnings of $0.13 per share for the quarter, up from their previous estimate of $0.12. Jefferies Group currently has a “Hold” rating and a $28.00 price target on the stock. Jefferies Group also issued estimates for Catalent’s Q2 2017 earnings at $0.30 EPS and Q3 2017 earnings at $0.33 EPS.
Catalent (NASDAQ:CTLT) last announced its quarterly earnings data on Monday, August 29th. The company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.01. The firm earned $532.20 million during the quarter. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 earnings per share.
A number of other research firms also recently weighed in on CTLT. Morgan Stanley restated a “hold” rating on shares of Catalent in a research report on Tuesday, August 30th. Wells Fargo & Co. upgraded Catalent from a “market perform” rating to an “outperform” rating in a research report on Tuesday, June 21st. Bank of America Corp. upgraded Catalent from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Monday, June 20th. They noted that the move was a valuation call. Zacks Investment Research downgraded Catalent from a “hold” rating to a “strong sell” rating in a research report on Monday, August 15th. Finally, TheStreet upgraded Catalent from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.67.
Shares of Catalent (NASDAQ:CTLT) opened at 25.84 on Friday. Catalent has a 12 month low of $18.92 and a 12 month high of $32.24. The stock has a 50 day moving average price of $25.22 and a 200-day moving average price of $25.66. The stock has a market cap of $3.22 billion and a P/E ratio of 29.03.
Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Catalent by 89.1% in the second quarter. FMR LLC now owns 14,597,087 shares of the company’s stock worth $335,587,000 after buying an additional 6,877,549 shares during the last quarter. Vanguard Group Inc. raised its stake in Catalent by 15.2% in the second quarter. Vanguard Group Inc. now owns 7,881,737 shares of the company’s stock worth $181,201,000 after buying an additional 1,039,117 shares during the last quarter. BlackRock Fund Advisors raised its stake in Catalent by 15.5% in the second quarter. BlackRock Fund Advisors now owns 5,721,096 shares of the company’s stock worth $131,528,000 after buying an additional 767,019 shares during the last quarter. Janus Capital Management LLC raised its stake in Catalent by 1.5% in the second quarter. Janus Capital Management LLC now owns 5,061,371 shares of the company’s stock worth $116,361,000 after buying an additional 73,233 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Catalent by 23.2% in the second quarter. UBS Asset Management Americas Inc. now owns 4,252,650 shares of the company’s stock worth $97,768,000 after buying an additional 799,498 shares during the last quarter.
In other news, major shareholder Blackstone Management Associat sold 17,100,705 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $23.58, for a total transaction of $403,234,623.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
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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