Jefferies Group Weighs in on Catalent Inc’s FY2017 Earnings (CTLT)
Catalent Inc (NASDAQ:CTLT) – Stock analysts at Jefferies Group increased their FY2017 EPS estimates for Catalent in a note issued to investors on Thursday. Jefferies Group analyst D. Windley now forecasts that the firm will post earnings per share of $1.33 for the year, up from their previous estimate of $1.31. Jefferies Group has a “Hold” rating and a $28.00 price target on the stock.
Catalent (NASDAQ:CTLT) last issued its quarterly earnings data on Monday, August 29th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $532.20 million for the quarter. During the same quarter in the previous year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year.
CTLT has been the subject of a number of other reports. Piper Jaffray Cos. reiterated an “overweight” rating and set a $30.00 price target (down from $30.50) on shares of Catalent in a report on Tuesday, August 30th. TheStreet upgraded Catalent from a “sell” rating to a “hold” rating in a report on Wednesday, August 17th. Zacks Investment Research upgraded Catalent from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 5th. Bank of America Corp. upgraded Catalent from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a report on Monday, June 20th. They noted that the move was a valuation call. Finally, Wells Fargo & Co. upgraded Catalent from a “market perform” rating to an “outperform” rating in a report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Catalent presently has an average rating of “Hold” and an average target price of $28.67.
Shares of Catalent (NASDAQ:CTLT) traded up 0.93% during midday trading on Monday, hitting $26.18. 56,802 shares of the company were exchanged. The firm has a market cap of $3.27 billion and a P/E ratio of 29.42. The company’s 50 day moving average price is $25.29 and its 200 day moving average price is $25.67. Catalent has a one year low of $18.92 and a one year high of $32.24.
A number of hedge funds have recently made changes to their positions in the stock. Commerce Bank boosted its stake in shares of Catalent by 0.7% in the second quarter. Commerce Bank now owns 17,115 shares of the company’s stock worth $393,000 after buying an additional 115 shares during the period. FDx Advisors Inc. boosted its stake in shares of Catalent by 7.7% in the second quarter. FDx Advisors Inc. now owns 8,965 shares of the company’s stock worth $206,000 after buying an additional 644 shares during the period. SG Americas Securities LLC boosted its stake in shares of Catalent by 3.5% in the second quarter. SG Americas Securities LLC now owns 25,322 shares of the company’s stock worth $582,000 after buying an additional 862 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Catalent by 2.1% in the second quarter. Nuveen Asset Management LLC now owns 45,802 shares of the company’s stock worth $1,053,000 after buying an additional 928 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Catalent by 2.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 37,631 shares of the company’s stock worth $865,000 after buying an additional 957 shares during the period.
In related news, major shareholder Blackstone Management Associat sold 17,100,705 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $23.58, for a total value of $403,234,623.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Catalent Company Profile
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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