Zacks Investment Research Downgrades Catalent Inc (CTLT) to Hold
Catalent Inc (NASDAQ:CTLT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
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 analysts have also recently issued research reports about the stock. Morgan Stanley reissued a “hold” rating on shares of Catalent in a research report on Tuesday, August 30th. Jefferies Group reissued a “hold” rating and set a $25.00 price target on shares of Catalent in a research report on Tuesday, August 30th. TheStreet raised shares of Catalent from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. KeyCorp assumed coverage on shares of Catalent in a report on Wednesday, October 19th. They issued an “overweight” rating and a $29.00 target price on the stock. Finally, Stephens assumed coverage on shares of Catalent in a report on Tuesday, October 18th. They issued an “overweight” rating and a $31.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Catalent has a consensus rating of “Hold” and a consensus price target of $28.67.
Shares of Catalent (NASDAQ:CTLT) opened at 25.26 on Friday. The firm’s 50-day moving average is $24.44 and its 200 day moving average is $24.83. Catalent has a 52-week low of $18.92 and a 52-week high of $32.24. The stock has a market cap of $3.15 billion and a P/E ratio of 30.25.
Catalent (NASDAQ:CTLT) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The business had revenue of $442.20 million for the quarter, compared to analyst estimates of $430.26 million. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. Analysts forecast that Catalent will post $1.39 earnings per share for the current fiscal year.
In other Catalent news, major shareholder Blackstone Management Associat sold 17,100,705 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were 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 SEC, which is available through this link.
A number of institutional investors have recently made changes to their positions in the stock. GW&K Investment Management LLC raised its position in shares of Catalent by 2.7% in the second quarter. GW&K Investment Management LLC now owns 1,755,362 shares of the company’s stock valued at $40,356,000 after buying an additional 46,305 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Catalent by 21.1% in the second quarter. Eagle Asset Management Inc. now owns 112,315 shares of the company’s stock worth $2,582,000 after buying an additional 19,579 shares during the period. Acadian Asset Management LLC raised its position in shares of Catalent by 46,852.1% in the second quarter. Acadian Asset Management LLC now owns 316,927 shares of the company’s stock worth $7,285,000 after buying an additional 316,252 shares during the period. LS Investment Advisors LLC raised its position in shares of Catalent by 85.2% in the second quarter. LS Investment Advisors LLC now owns 7,131 shares of the company’s stock worth $164,000 after buying an additional 3,280 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in shares of Catalent by 4.4% in the second quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the company’s stock worth $655,000 after buying an additional 1,200 shares during the period.
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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