Catalent (NYSE:CTLT) Hits New 1-Year High Following Strong Earnings

Catalent, Inc. (NYSE:CTLT)’s share price hit a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $60.50 and last traded at $60.50, with a volume of 10991 shares. The stock had previously closed at $59.80.

The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.44 by $0.13. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.23 billion. Catalent had a negative return on equity of 2.73% and a negative net margin of 26.61%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTLT. StockNews.com began coverage on Catalent in a research report on Sunday, August 25th. They set a “sell” rating for the company. Barclays raised their price objective on Catalent from $47.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, June 28th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $63.50 price objective on shares of Catalent in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $57.06.

Insider Buying and Selling at Catalent

In other Catalent news, insider Ricky Hopson sold 662 shares of Catalent stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $59.56, for a total value of $39,428.72. Following the completion of the transaction, the insider now directly owns 29,974 shares of the company’s stock, valued at approximately $1,785,251.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Ricky Hopson sold 662 shares of Catalent stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $59.56, for a total value of $39,428.72. Following the completion of the transaction, the insider now owns 29,974 shares in the company, valued at approximately $1,785,251.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alessandro Maselli sold 9,088 shares of Catalent stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $58.76, for a total value of $534,010.88. Following the completion of the transaction, the chief executive officer now owns 177,521 shares of the company’s stock, valued at approximately $10,431,133.96. The disclosure for this sale can be found here. Insiders sold a total of 14,810 shares of company stock valued at $858,941 in the last three months. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Catalent

Several institutional investors have recently added to or reduced their stakes in CTLT. International Assets Investment Management LLC purchased a new stake in Catalent during the fourth quarter worth approximately $6,720,000. Federated Hermes Inc. purchased a new stake in Catalent during the fourth quarter worth approximately $46,000. GAMMA Investing LLC purchased a new stake in Catalent during the fourth quarter worth approximately $33,000. Victory Capital Management Inc. lifted its stake in Catalent by 90.5% during the fourth quarter. Victory Capital Management Inc. now owns 33,940 shares of the company’s stock worth $1,525,000 after purchasing an additional 16,120 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its stake in Catalent by 4.0% during the fourth quarter. Natixis Advisors L.P. now owns 20,494 shares of the company’s stock worth $920,000 after purchasing an additional 793 shares during the last quarter.

Catalent Stock Performance

The firm has a 50 day moving average of $58.45 and a two-hundred day moving average of $56.96. The stock has a market cap of $11.03 billion, a PE ratio of -9.99, a PEG ratio of 2.47 and a beta of 1.16. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.51 and a quick ratio of 1.77.

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.