Catalent (NYSE:CTLT) Shares Gap Down on Analyst Downgrade

Catalent, Inc. (NYSE:CTLT – Get Rating) gapped down prior to trading on Monday after Morgan Stanley lowered their price target on the stock from $85.00 to $50.00. The stock had previously closed at $37.17, but opened at $36.33. Catalent shares last traded at $37.35, with a volume of 415,729 shares.

Several other research analysts have also weighed in on CTLT. JPMorgan Chase & Co. lowered shares of Catalent from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $90.00 to $45.00 in a research note on Sunday. Barclays reduced their price target on shares of Catalent from $40.00 to $35.00 in a research report on Sunday. Robert W. Baird reduced their target price on shares of Catalent from $53.00 to $35.00 in a report on Monday. William Blair cut shares of Catalent from an “outperform” rating to a “market perform” rating in a report on Friday, April 14th. Finally, Royal Bank of Canada cut their price objective on shares of Catalent from $58.00 to $41.00 in a report on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $67.55.

Insider Activity at Catalent

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

Institutional Trading of Catalent

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KB Financial Partners LLC purchased a new stake in shares of Catalent during the 1st quarter worth about $30,000. Bellevue Group AG purchased a new position in Catalent in the 3rd quarter worth approximately $34,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Catalent in the 4th quarter valued at approximately $34,000. FNY Investment Advisers LLC acquired a new stake in shares of Catalent during the 1st quarter valued at approximately $34,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Catalent during the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Catalent Stock Performance

The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 4.60 and a beta of 1.17. The company has a 50-day moving average of $52.51 and a 200-day moving average of $53.06. The company has a current ratio of 1.91, a quick ratio of 1.38 and a debt-to-equity ratio of 0.86.

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.