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

Equities research analysts at StockNews.com initiated coverage on shares of Catalent (NYSE:CTLT) in a research note issued on Sunday. The brokerage set a “hold” rating on the stock.

Several other analysts have also recently weighed in on CTLT. Robert W. Baird reiterated a “neutral” rating and issued a $63.50 price objective on shares of Catalent in a research note on Tuesday, September 24th. Baird R W downgraded shares of Catalent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Eight investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.40.

Catalent Stock Performance

Shares of CTLT stock opened at $63.48 on Friday. The company has a market capitalization of $11.52 billion, a PE ratio of -28.09, a price-to-earnings-growth ratio of 2.70 and a beta of 1.15. The company has a quick ratio of 1.96, a current ratio of 2.51 and a debt-to-equity ratio of 1.38. Catalent has a 12-month low of $41.15 and a 12-month high of $63.50. The firm has a 50 day moving average price of $61.74 and a two-hundred day moving average price of $60.17.

Catalent (NYSE:CTLT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.18). Catalent had a negative net margin of 9.28% and a negative return on equity of 0.66%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.06 billion. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) earnings per share. As a group, analysts predict that Catalent will post 0.78 earnings per share for the current year.

Insiders Place Their Bets

In other Catalent news, Director Michelle R. Ryan sold 2,800 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.70, for a total transaction of $167,160.00. Following the sale, the director now owns 10,835 shares of the company’s stock, valued at approximately $646,849.50. The trade was a 20.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Catalent

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Catalent by 15.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,520,308 shares of the company’s stock worth $92,085,000 after acquiring an additional 199,427 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Catalent in the third quarter valued at $8,480,000. Tidal Investments LLC acquired a new stake in Catalent in the third quarter valued at $214,000. Neo Ivy Capital Management bought a new position in Catalent during the 3rd quarter worth $1,078,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Catalent by 1.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 53,011 shares of the company’s stock worth $3,211,000 after buying an additional 750 shares during the period.

About Catalent

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.