Catalent (NYSE:CTLT) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Catalent (NYSE:CTLT) issued its earnings results on Wednesday. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04, MarketWatch Earnings reports. The company had revenue of $982.00 million for the quarter, compared to the consensus estimate of $939.62 million. Catalent had a negative net margin of 22.36% and a positive return on equity of 1.54%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share.

Catalent Stock Performance

CTLT stock traded up $0.13 during mid-day trading on Friday, hitting $39.87. The company had a trading volume of 2,265,377 shares, compared to its average volume of 3,216,556. The company has a 50-day moving average price of $42.42 and a 200 day moving average price of $43.06. Catalent has a 12-month low of $31.45 and a 12-month high of $74.49. The company has a quick ratio of 1.27, a current ratio of 1.71 and a debt-to-equity ratio of 1.11.

Analyst Ratings Changes

CTLT has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of Catalent from $50.00 to $42.00 and set an “equal weight” rating for the company in a report on Thursday. Bank of America raised their price objective on Catalent from $39.00 to $46.00 and gave the company an “underperform” rating in a research report on Thursday, August 31st. Royal Bank of Canada reduced their target price on shares of Catalent from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Catalent from $37.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, August 15th. Finally, Argus upgraded shares of Catalent from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $50.45.

Insider Activity

In other news, CEO Alessandro Maselli sold 2,071 shares of the company’s 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 directly owns 88,004 shares of the company’s stock, valued at approximately $3,919,698.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Alessandro Maselli sold 2,071 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $44.54, for a total value of $92,242.34. Following the completion of the transaction, the chief executive officer now owns 88,004 shares of the company’s stock, valued at approximately $3,919,698.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John J. Greisch acquired 21,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were bought at an average price of $50.24 per share, for a total transaction of $1,055,040.00. Following the completion of the transaction, the insider now owns 34,000 shares of the company’s stock, valued at $1,708,160. The disclosure for this purchase can be found here. Insiders sold a total of 3,553 shares of company stock worth $158,329 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Catalent

Hedge funds have recently bought and sold shares of the business. Cetera Advisor Networks LLC raised its stake in shares of Catalent by 7.1% during the first quarter. Cetera Advisor Networks LLC now owns 1,953 shares of the company’s stock valued at $217,000 after acquiring an additional 130 shares in the last quarter. Mackay Shields LLC lifted its stake in Catalent by 0.6% in the first quarter. Mackay Shields LLC now owns 25,749 shares of the company’s stock worth $2,856,000 after acquiring an additional 149 shares during the period. Wetherby Asset Management Inc. grew its holdings in Catalent by 5.1% during the 1st quarter. Wetherby Asset Management Inc. now owns 5,023 shares of the company’s stock worth $557,000 after acquiring an additional 243 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in Catalent by 1.2% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 21,164 shares of the company’s stock valued at $953,000 after purchasing an additional 252 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Catalent by 84.9% in the 1st quarter. Covestor Ltd now owns 562 shares of the company’s stock valued at $62,000 after purchasing an additional 258 shares in the last quarter.

Catalent Company Profile

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.