Zacks Investment Research Lowers Catalent Inc (CTLT) to Hold
Zacks Investment Research downgraded shares of Catalent Inc (NASDAQ:CTLT) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
According to Zacks, “Catalent, Inc. provides advanced delivery technologies and development solutions for drugs, biologics and consumer health products. It operates through Oral Technologies, Medication Delivery Solutions, and Development & Clinical Services. The Oral Technologies segment address the full diversity of the pharmaceutical industry including small molecules, large molecule biologics and consumer health products. The Medication Delivery Solutions segment offers formulation, development, and manufacturing services for delivery of drugs and biologics administered through injection, inhalation, and ophthalmic routes. The Development and Clinical Services segment provides manufacturing, packaging, storage, and inventory management services for drugs and biologics in clinical trials. Catalent, Inc. is headquartered in Somerset, New Jersey. “
CTLT has been the topic of a number of other reports. BidaskClub lowered shares of Catalent from a strong-buy rating to a buy rating in a research report on Tuesday, June 27th. Bank of America Corporation restated a buy rating and set a $38.00 price target (up from $37.00) on shares of Catalent in a research report on Friday, July 21st. Finally, William Blair upgraded shares of Catalent from a market perform rating to an outperform rating in a research report on Monday, May 15th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $32.00.
Shares of Catalent (NASDAQ:CTLT) opened at 34.77 on Friday. The stock has a market capitalization of $4.34 billion and a PE ratio of 40.95. Catalent has a 12 month low of $21.83 and a 12 month high of $38.73. The stock’s 50 day moving average is $35.15 and its 200 day moving average is $32.22.
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In other Catalent news, SVP Christine Dolan sold 745 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $34.85, for a total value of $25,963.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Catalent by 15.2% in the second quarter. BlackRock Inc. now owns 17,512,661 shares of the company’s stock valued at $614,695,000 after buying an additional 2,316,849 shares during the last quarter. Vanguard Group Inc. raised its position in Catalent by 3.8% in the second quarter. Vanguard Group Inc. now owns 10,119,431 shares of the company’s stock valued at $355,192,000 after buying an additional 369,526 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Catalent during the second quarter valued at $239,629,000. Schroder Investment Management Group raised its position in Catalent by 8.4% in the first quarter. Schroder Investment Management Group now owns 5,143,664 shares of the company’s stock valued at $146,646,000 after buying an additional 400,219 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Catalent by 4.6% in the second quarter. JPMorgan Chase & Co. now owns 5,139,690 shares of the company’s stock valued at $180,403,000 after buying an additional 226,705 shares during the last quarter.
Catalent, Inc provides delivery technologies and development solutions for drugs, biologics, and consumer and animal health products. Its segments include Softgel Technologies, Drug Delivery Solutions and Clinical Supply Services. The Softgel Technologies segment is engaged in the formulation, development and manufacturing of prescription and consumer health soft capsules or softgels.
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