Catalent (NYSE:CTLT) Upgraded to “Buy” by Zacks Investment Research


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Catalent (NYSE:CTLT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage currently has a $125.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 20.77% 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. “

CTLT has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price objective on shares of Catalent from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, January 8th. Argus lifted their target price on shares of Catalent from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, March 2nd. They noted that the move was a valuation call. Morgan Stanley lifted their target price on shares of Catalent from $115.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 3rd. Royal Bank of Canada lifted their target price on shares of Catalent from $125.00 to $137.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 3rd. Finally, UBS Group lifted their target price on shares of Catalent from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, February 3rd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $125.11.

Catalent stock traded down $8.28 during mid-day trading on Tuesday, reaching $103.50. The company had a trading volume of 3,720,875 shares, compared to its average volume of 1,058,947. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.56 and a quick ratio of 2.14. The stock’s 50-day simple moving average is $108.38 and its 200-day simple moving average is $106.35. Catalent has a 1 year low of $65.00 and a 1 year high of $127.68. The company has a market capitalization of $17.62 billion, a P/E ratio of 65.92, a P/E/G ratio of 2.68 and a beta of 1.50.

Catalent (NYSE:CTLT) last issued its quarterly earnings data on Tuesday, May 4th. The company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.09. Catalent had a net margin of 9.25% and a return on equity of 14.20%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $994.28 million. During the same period last year, the company posted $0.50 EPS. The company’s revenue was up 38.5% on a year-over-year basis. On average, equities analysts forecast that Catalent will post 2.35 EPS for the current fiscal year.

In other Catalent news, SVP Kay A. Schmidt sold 1,400 shares of the business’s stock in a transaction on Monday, March 22nd. The shares were sold at an average price of $105.77, for a total value of $148,078.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Wetteny Joseph sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $124.54, for a total transaction of $622,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 74,871 shares of company stock worth $7,997,007 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Sei Investments Co. increased its position in shares of Catalent by 3.4% in the 3rd quarter. Sei Investments Co. now owns 349,617 shares of the company’s stock worth $29,924,000 after purchasing an additional 11,471 shares during the last quarter. Strs Ohio increased its position in shares of Catalent by 10.3% in the 3rd quarter. Strs Ohio now owns 303,307 shares of the company’s stock worth $25,981,000 after purchasing an additional 28,447 shares during the last quarter. Wetherby Asset Management Inc. bought a new stake in shares of Catalent in the 3rd quarter worth about $366,000. HM Payson & Co. bought a new stake in shares of Catalent during the 3rd quarter valued at about $25,000. Finally, Louisiana State Employees Retirement System grew its position in shares of Catalent by 22.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the company’s stock valued at $1,062,000 after buying an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Catalent Company Profile

Catalent, Inc, together with its subsidiaries, provides delivery technologies and development solutions for drugs, biologics, and consumer and animal health products worldwide. It operates through four segments: Softgel and Oral Technologies, Biologics, Oral and Specialty Delivery, and Clinical Supply Services.

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