Robert W. Baird Upgrades Catalent (NYSE:CTLT) to “Outperform”

Catalent (NYSE:CTLT) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage currently has a $53.00 target price on the stock, up from their previous target price of $45.00. Robert W. Baird’s price target would indicate a potential upside of 33.97% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company initiated coverage on shares of Catalent in a report on Thursday, July 20th. They issued an “equal weight” rating and a $43.00 price target on the stock. Morgan Stanley increased their price target on shares of Catalent from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, August 30th. Argus raised shares of Catalent from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Tuesday, September 5th. Royal Bank of Canada increased their price target on shares of Catalent from $51.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, August 30th. Finally, Bank of America increased their price target on shares of Catalent from $39.00 to $46.00 and gave the company an “underperform” rating in a report on Thursday, August 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.82.

Catalent Stock Up 11.3 %

Shares of CTLT stock opened at $39.56 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.27 and a current ratio of 1.78. The firm’s 50-day moving average is $42.81 and its 200-day moving average is $43.11. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of -30.43, a PEG ratio of 3.03 and a beta of 1.26. Catalent has a 52-week low of $31.45 and a 52-week high of $74.49.

Catalent (NYSE:CTLT) last issued its earnings results on Tuesday, August 29th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. Catalent had a negative net margin of 5.43% and a positive return on equity of 3.24%. The firm’s revenue for the quarter was down 15.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 earnings per share. Sell-side analysts predict that Catalent will post 0.61 EPS for the current year.

Insider Transactions at Catalent

In related news, CEO Alessandro Maselli sold 2,071 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $44.54, for a total transaction of $92,242.34. Following the sale, the chief executive officer now owns 88,004 shares in the company, valued at approximately $3,919,698.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Steven L. Fasman sold 817 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $44.65, for a total transaction of $36,479.05. Following the sale, the executive vice president now owns 73,789 shares in the company, valued at approximately $3,294,678.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alessandro Maselli sold 2,071 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $44.54, for a total transaction of $92,242.34. Following the sale, the chief executive officer now owns 88,004 shares in the company, valued at approximately $3,919,698.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,553 shares of company stock valued at $158,329. 0.58% of the stock is currently owned by company insiders.

Institutional Trading of Catalent

A number of hedge funds have recently added to or reduced their stakes in CTLT. Barclays PLC boosted its position in Catalent by 578.0% in the second quarter. Barclays PLC now owns 3,385,660 shares of the company’s stock valued at $146,802,000 after buying an additional 2,886,309 shares in the last quarter. Cadian Capital Management LP acquired a new stake in Catalent in the second quarter valued at approximately $120,456,000. Capital World Investors boosted its position in Catalent by 19.1% in the second quarter. Capital World Investors now owns 15,960,335 shares of the company’s stock valued at $692,040,000 after buying an additional 2,556,699 shares in the last quarter. Castle Hook Partners LP acquired a new stake in Catalent in the second quarter valued at approximately $74,987,000. Finally, Senator Investment Group LP bought a new position in shares of Catalent during the first quarter valued at $98,565,000.

About Catalent

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.