Catalent, Inc. (NYSE:CTLT – Get Rating) – Equities research analysts at KeyCorp dropped their Q3 2023 earnings estimates for Catalent in a report issued on Sunday, December 18th. KeyCorp analyst P. Knight now anticipates that the company will earn $0.79 per share for the quarter, down from their prior estimate of $0.95. KeyCorp has a "Overweight" rating and a $85.00 price objective on the stock. The consensus estimate for Catalent's current full-year earnings is $3.05 per share.
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A number of other equities analysts have also weighed in on the stock. Jefferies Financial Group dropped their target price on shares of Catalent from $130.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, August 30th. Royal Bank of Canada lowered their price objective on shares of Catalent from $125.00 to $73.00 and set an "outperform" rating for the company in a research report on Wednesday, November 2nd. StockNews.com lowered shares of Catalent from a "hold" rating to a "sell" rating in a research report on Saturday, November 5th. Morgan Stanley lowered their price objective on shares of Catalent from $120.00 to $81.00 and set an "overweight" rating for the company in a research report on Thursday, November 3rd. Finally, Argus lowered shares of Catalent from a "buy" rating to a "hold" rating in a research report on Monday, November 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $92.80.
Catalent Price Performance
Shares of NYSE:CTLT opened at $44.36 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.08 and a current ratio of 2.86. The firm has a fifty day moving average price of $52.39 and a 200 day moving average price of $82.69. Catalent has a fifty-two week low of $40.69 and a fifty-two week high of $129.73. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 2.02 and a beta of 1.23.
Catalent (NYSE:CTLT – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.24). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.06 billion. Catalent had a return on equity of 12.55% and a net margin of 8.83%.
Insider Buying and Selling at Catalent
In other news, insider Thomas W. Hawkeswood sold 930 shares of Catalent stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $77.46, for a total value of $72,037.80. Following the transaction, the insider now owns 5,364 shares of the company's stock, valued at approximately $415,495.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Catalent news, insider Thomas W. Hawkeswood sold 930 shares of Catalent stock in a transaction on Monday, October 10th. The shares were sold at an average price of $77.46, for a total value of $72,037.80. Following the transaction, the insider now directly owns 5,364 shares of the company's stock, valued at $415,495.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael J. Grippo sold 2,451 shares of Catalent stock in a transaction on Monday, October 31st. The stock was sold at an average price of $65.83, for a total transaction of $161,349.33. Following the completion of the transaction, the senior vice president now directly owns 17,792 shares in the company, valued at $1,171,247.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,161 shares of company stock valued at $273,713. Company insiders own 0.58% of the company's stock.
Institutional Investors Weigh In On Catalent
A number of large investors have recently made changes to their positions in CTLT. Price T Rowe Associates Inc. MD raised its position in shares of Catalent by 9.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 22,303,561 shares of the company's stock worth $2,392,949,000 after acquiring an additional 2,011,520 shares during the period. Artisan Partners Limited Partnership raised its position in shares of Catalent by 20.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 5,232,772 shares of the company's stock worth $561,424,000 after purchasing an additional 887,520 shares during the last quarter. BlackRock Inc. raised its position in shares of Catalent by 5.2% during the 3rd quarter. BlackRock Inc. now owns 16,086,469 shares of the company's stock worth $1,164,016,000 after purchasing an additional 792,923 shares during the last quarter. Viking Global Investors LP raised its position in shares of Catalent by 66.2% during the 1st quarter. Viking Global Investors LP now owns 1,893,644 shares of the company's stock worth $210,005,000 after purchasing an additional 754,290 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Catalent by 17.7% during the 1st quarter. JPMorgan Chase & Co. now owns 4,474,419 shares of the company's stock worth $496,212,000 after purchasing an additional 673,706 shares during the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.
About Catalent
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Catalent, Inc, together with its subsidiaries, develops and manufactures solutions for drugs, protein-based biologics, cell and gene therapies, and consumer health products worldwide. The Softgel and Oral Technologies segment provides formulation, development, and manufacturing services for soft capsules for use in a range of customer products, such as prescription drugs, over-the-counter medications, dietary supplements, unit-dose cosmetics, and animal health medicinal preparations.
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