Catalent (CTLT) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Catalent (NYSE:CTLT) from a hold rating to a buy rating in a research note published on Wednesday. The brokerage currently has $48.00 price target on the stock.

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 also recently issued reports about the stock. Bank of America reissued a buy rating and set a $45.00 price objective (up from $40.00) on shares of Catalent in a research report on Wednesday, September 20th. BidaskClub downgraded shares of Catalent from a buy rating to a hold rating in a research report on Tuesday, November 14th. Wells Fargo & Co increased their price objective on shares of Catalent from $39.00 to $43.00 and gave the company an outperform rating in a research report on Wednesday, September 20th. ValuEngine downgraded shares of Catalent from a buy rating to a hold rating in a research report on Monday, October 2nd. Finally, Morgan Stanley raised shares of Catalent from an equal weight rating to an overweight rating and increased their price objective for the company from $29.00 to $48.00 in a research report on Thursday, September 21st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Catalent has an average rating of Buy and a consensus price target of $44.44.

Shares of Catalent (CTLT) traded down $0.63 during mid-day trading on Wednesday, reaching $42.42. 591,868 shares of the company traded hands, compared to its average volume of 664,250. Catalent has a one year low of $25.69 and a one year high of $43.42. The stock has a market cap of $5,665.13, a P/E ratio of 48.76, a price-to-earnings-growth ratio of 2.71 and a beta of 1.41. The company has a quick ratio of 2.49, a current ratio of 2.91 and a debt-to-equity ratio of 2.01.

Catalent (NYSE:CTLT) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Catalent had a net margin of 5.01% and a return on equity of 23.97%. The company had revenue of $543.90 million for the quarter, compared to the consensus estimate of $490.75 million. During the same period in the prior year, the firm posted $0.16 EPS. Catalent’s revenue for the quarter was up 23.0% on a year-over-year basis. analysts anticipate that Catalent will post 1.47 EPS for the current year.

In other news, insider John R. Chiminski sold 181,458 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $39.62, for a total transaction of $7,189,365.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Uwe Roehrhoff purchased 7,500 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were bought at an average cost of $39.22 per share, for a total transaction of $294,150.00. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company’s stock.

Several large investors have recently modified their holdings of CTLT. Janus Henderson Group PLC bought a new position in shares of Catalent in the 2nd quarter worth approximately $239,629,000. BlackRock Inc. lifted its stake in shares of Catalent by 15.2% in the 2nd quarter. BlackRock Inc. now owns 17,512,661 shares of the company’s stock worth $614,695,000 after purchasing an additional 2,316,849 shares during the period. Eagle Asset Management Inc. lifted its stake in shares of Catalent by 290.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,153,710 shares of the company’s stock worth $47,636,000 after purchasing an additional 858,600 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Catalent by 60.2% in the 2nd quarter. Macquarie Group Ltd. now owns 1,786,764 shares of the company’s stock worth $62,715,000 after purchasing an additional 671,429 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Catalent in the 2nd quarter worth approximately $23,092,000. Hedge funds and other institutional investors own 99.37% of the company’s stock.

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About Catalent

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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