Catalent, Inc. (NYSE:CTLT – Get Rating) – Analysts at Jefferies Financial Group increased their FY2023 earnings per share (EPS) estimates for Catalent in a report issued on Tuesday, January 24th. Jefferies Financial Group analyst D. Windley now expects that the company will post earnings per share of $2.95 for the year, up from their previous forecast of $2.87. The consensus estimate for Catalent's current full-year earnings is $2.93 per share. Jefferies Financial Group also issued estimates for Catalent's Q4 2023 earnings at $1.12 EPS and FY2024 earnings at $3.13 EPS.
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Catalent (NYSE:CTLT – Get Rating) last posted its earnings results on Tuesday, November 1st. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.24). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.06 billion. Catalent had a return on equity of 12.55% and a net margin of 8.83%.
A number of other equities research analysts have also recently weighed in on the company. KeyCorp dropped their price objective on Catalent from $125.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, November 2nd. Bank of America cut Catalent from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $125.00 to $60.00 in a research note on Wednesday, November 2nd. Robert W. Baird dropped their price objective on Catalent from $123.00 to $75.00 in a research note on Wednesday, November 2nd. Royal Bank of Canada dropped their price objective on Catalent from $125.00 to $73.00 and set an "outperform" rating for the company in a research note on Wednesday, November 2nd. Finally, Morgan Stanley lowered their target price on Catalent from $120.00 to $81.00 and set an "overweight" rating for the company in a research note on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Catalent currently has an average rating of "Hold" and an average price target of $92.40.
Catalent Price Performance
CTLT stock opened at $52.27 on Thursday. The business has a fifty day moving average of $46.54 and a two-hundred day moving average of $71.75. The company has a quick ratio of 2.08, a current ratio of 2.86 and a debt-to-equity ratio of 0.87. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 3.42 and a beta of 1.24. Catalent has a 52-week low of $40.69 and a 52-week high of $115.33.
Insiders Place Their Bets
In other news, insider Manja Boerman sold 780 shares of the business's stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $51.70, for a total value of $40,326.00. Following the completion of the sale, the insider now directly owns 15,860 shares of the company's stock, valued at approximately $819,962. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Ricky Hopson sold 643 shares of the business's stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $49.36, for a total value of $31,738.48. Following the transaction, the insider now owns 16,452 shares in the company, valued at approximately $812,070.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Manja Boerman sold 780 shares of the business's stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $51.70, for a total value of $40,326.00. Following the completion of the transaction, the insider now owns 15,860 shares in the company, valued at approximately $819,962. The disclosure for this sale can be found here. Insiders sold 3,874 shares of company stock valued at $233,414 in the last ninety days. Insiders own 0.58% of the company's stock.
Hedge Funds Weigh In On Catalent
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in Catalent by 9.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 22,303,561 shares of the company's stock worth $2,392,949,000 after purchasing an additional 2,011,520 shares during the period. Vanguard Group Inc. increased its position in Catalent by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 19,223,242 shares of the company's stock worth $1,390,994,000 after purchasing an additional 178,443 shares during the period. BlackRock Inc. increased its position in 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 period. State Street Corp increased its position in Catalent by 0.9% during the 3rd quarter. State Street Corp now owns 7,126,800 shares of the company's stock worth $515,695,000 after purchasing an additional 67,054 shares during the period. Finally, Veritas Asset Management LLP increased its position in Catalent by 1.0% during the 3rd quarter. Veritas Asset Management LLP now owns 6,957,775 shares of the company's stock worth $503,465,000 after purchasing an additional 65,734 shares during the period. Institutional investors and hedge funds own 99.38% of the company's stock.
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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