Royal Bank of Canada Cuts Catalent (NYSE:CTLT) Price Target to $41.00

Catalent (NYSE:CTLT – Get Rating) had its price objective dropped by equities research analysts at Royal Bank of Canada from $58.00 to $41.00 in a research note issued to investors on Monday, The Fly reports. Royal Bank of Canada’s target price would suggest a potential upside of 17.01% from the stock’s previous close.

Several other brokerages also recently commented on CTLT. Morgan Stanley raised their target price on shares of Catalent from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 9th. Robert W. Baird downgraded shares of Catalent from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $82.00 to $53.00 in a report on Monday, April 17th. StockNews.com upgraded shares of Catalent to a “sell” rating in a report on Saturday, April 15th. Barclays dropped their target price on shares of Catalent from $70.00 to $40.00 in a report on Monday, April 17th. Finally, Bank of America downgraded shares of Catalent from a “neutral” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a report on Monday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Catalent presently has an average rating of “Hold” and a consensus price target of $77.40.

Catalent Stock Performance

Shares of NYSE:CTLT opened at $35.04 on Monday. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 2.38 and a beta of 1.17. The firm’s 50 day simple moving average is $58.96 and its 200 day simple moving average is $54.76. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.91 and a quick ratio of 1.38. Catalent has a fifty-two week low of $33.05 and a fifty-two week high of $115.33.

Catalent (NYSE:CTLT – Get Rating) last announced its quarterly earnings results on Tuesday, February 7th. The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.02). The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.12 billion. Catalent had a net margin of 8.62% and a return on equity of 11.40%. As a group, sell-side analysts forecast that Catalent will post 2.6 earnings per share for the current year.

Insider Activity at Catalent

In related news, SVP Mario Gargiulo sold 678 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $49.86, for a total value of $33,805.08. Following the completion of the transaction, the senior vice president now directly owns 5,676 shares of the company’s stock, valued at $283,005.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Catalent news, insider Manja Boerman sold 1,446 shares of Catalent stock in a transaction on Monday, May 1st. The shares were sold at an average price of $49.86, for a total transaction of $72,097.56. Following the completion of the transaction, the insider now directly owns 14,414 shares of the company’s stock, valued at $718,682.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mario Gargiulo sold 678 shares of Catalent stock in a transaction on Monday, May 1st. The stock was sold at an average price of $49.86, for a total transaction of $33,805.08. Following the transaction, the senior vice president now directly owns 5,676 shares of the company’s stock, valued at $283,005.36. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On Catalent

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTLT. Veritas Asset Management LLP boosted its position in shares of Catalent by 60.5% in the fourth quarter. Veritas Asset Management LLP now owns 11,169,815 shares of the company’s stock valued at $502,753,000 after acquiring an additional 4,212,040 shares during the period. Artisan Partners Limited Partnership boosted its position in shares of Catalent by 33.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 7,842,308 shares of the company’s stock valued at $352,982,000 after acquiring an additional 1,973,505 shares during the period. Eminence Capital LP boosted its position in shares of Catalent by 151.3% in the fourth quarter. Eminence Capital LP now owns 2,547,332 shares of the company’s stock valued at $114,655,000 after acquiring an additional 1,533,669 shares during the period. Norges Bank bought a new stake in shares of Catalent in the fourth quarter valued at about $65,774,000. Finally, Maverick Capital Ltd. bought a new stake in shares of Catalent in the fourth quarter valued at about $63,088,000. 99.38% of the stock is owned by institutional investors.

About Catalent

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Catalent, Inc is a holding company, which engages in the provision of delivery technologies, development, and manufacturing solutions for drugs, biologics, cell and gene therapies, and consumer health products. It operates through the following segments: Softgel and Oral Technologies, Biologics, Oral and Specialty Delivery, and Clinical Supply Services.