StockNews.com Initiates Coverage on Catalent (NYSE:CTLT)

StockNews.com initiated coverage on shares of Catalent (NYSE:CTLT) in a report issued on Thursday. The firm issued a sell rating on the stock.

Several other brokerages also recently weighed in on CTLT. William Blair reissued a market perform rating on shares of Catalent in a research note on Tuesday, September 3rd. Royal Bank of Canada reissued a sector perform rating and set a $63.50 price target on shares of Catalent in a research report on Thursday, July 11th. Baird R W cut Catalent from a strong-buy rating to a hold rating in a report on Tuesday, September 24th. Barclays lifted their price target on shares of Catalent from $47.00 to $63.00 and gave the company an equal weight rating in a research report on Friday, June 28th. Finally, Robert W. Baird restated a neutral rating and set a $63.50 price objective on shares of Catalent in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $59.83.

Catalent Trading Up 0.1 %

Shares of Catalent stock opened at $60.33 on Thursday. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of -9.89, a price-to-earnings-growth ratio of 2.32 and a beta of 1.15. Catalent has a 52-week low of $31.80 and a 52-week high of $61.20. The company’s 50-day simple moving average is $59.69 and its 200-day simple moving average is $57.33. The company has a quick ratio of 1.96, a current ratio of 2.52 and a debt-to-equity ratio of 1.35.

Catalent (NYSE:CTLT) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.13. Catalent had a negative net margin of 22.72% and a negative return on equity of 0.56%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.23 billion. As a group, equities research analysts anticipate that Catalent will post 0.85 earnings per share for the current year.

Insider Buying and Selling at Catalent

In related news, insider David Mcerlane sold 1,994 shares of Catalent stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $59.97, for a total value of $119,580.18. Following the sale, the insider now directly owns 36,304 shares in the company, valued at approximately $2,177,150.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider David Mcerlane sold 1,994 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $59.97, for a total value of $119,580.18. Following the completion of the transaction, the insider now directly owns 36,304 shares of the company’s stock, valued at approximately $2,177,150.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alessandro Maselli sold 9,088 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $58.76, for a total value of $534,010.88. Following the transaction, the chief executive officer now directly owns 177,521 shares in the company, valued at $10,431,133.96. The disclosure for this sale can be found here. Insiders sold a total of 15,403 shares of company stock worth $902,503 over the last 90 days. Insiders own 0.31% of the company’s stock.

Institutional Trading of Catalent

Several large investors have recently added to or reduced their stakes in CTLT. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Catalent during the second quarter valued at $29,172,000. Sanctuary Advisors LLC purchased a new position in Catalent during the second quarter valued at approximately $208,000. Truist Financial Corp grew its position in Catalent by 37.2% during the second quarter. Truist Financial Corp now owns 28,029 shares of the company’s stock valued at $1,576,000 after purchasing an additional 7,600 shares in the last quarter. Millennium Management LLC lifted its position in Catalent by 129.2% in the 2nd quarter. Millennium Management LLC now owns 4,079,964 shares of the company’s stock worth $229,416,000 after buying an additional 2,299,784 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new stake in Catalent during the second quarter valued at $788,000.

Catalent Company Profile

Catalent, Inc, together with its subsidiaries, develops and manufactures solutions for drugs, protein-based biologics, cell and gene therapies, and consumer health products worldwide. It operates in two segments, Biologics, and Pharma and Consumer Health. The Biologics segment provides formulation, development, and manufacturing for biologic proteins, cell gene, and other nucleic acid therapies; pDNA, iPSCs, oncolytic viruses, and vaccines; formulation, development, and manufacturing for parenteral dose forms, including vials, prefilled syringes, and cartridges; and analytical development and testing services for large molecules.