New York State Common Retirement Fund Grows Stock Position in Catalent, Inc. (NYSE:CTLT)

Posted by Defense World Staff on Apr 14th, 2023

New York State Common Retirement Fund lifted its stake in Catalent, Inc. (NYSE:CTLT – Get Rating) by 62.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 839,076 shares of the company’s stock after purchasing an additional 321,639 shares during the period. New York State Common Retirement Fund owned about 0.47% of Catalent worth $37,767,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bellevue Group AG purchased a new position in Catalent in the third quarter valued at $34,000. Covestor Ltd lifted its holdings in Catalent by 84.9% during the 1st quarter. Covestor Ltd now owns 562 shares of the company’s stock worth $62,000 after buying an additional 258 shares during the last quarter. Motco purchased a new stake in Catalent during the 3rd quarter worth about $41,000. Alta Advisers Ltd purchased a new stake in Catalent during the 3rd quarter worth about $43,000. Finally, Wipfli Financial Advisors LLC purchased a new stake in Catalent during the 3rd quarter worth about $58,000. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Catalent

In related news, insider Ricky Hopson sold 643 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $49.36, for a total value of $31,738.48. Following the transaction, the insider now owns 16,452 shares in the company, valued at approximately $812,070.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.58% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CTLT has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on Catalent from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 9th. Robert W. Baird lifted their price target on Catalent from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft raised Catalent from a “hold” rating to a “buy” rating and lifted their price target for the stock from $79.00 to $88.00 in a report on Monday. Bank of America lifted their target price on Catalent from $60.00 to $78.00 in a research report on Wednesday, February 8th. Finally, Royal Bank of Canada lifted their target price on Catalent from $73.00 to $85.00 in a research report on Wednesday, February 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $96.00.

Catalent Stock Performance

Shares of CTLT stock opened at $63.31 on Friday. The stock has a market capitalization of $11.40 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 3.06 and a beta of 1.17. Catalent, Inc. has a 52-week low of $40.69 and a 52-week high of $115.33. The stock’s 50-day moving average price is $67.58 and its 200 day moving average price is $58.71. The company has a quick ratio of 1.38, a current ratio of 1.91 and a debt-to-equity ratio of 0.86.

Catalent (NYSE:CTLT – Get Rating) last issued its quarterly earnings results on Tuesday, February 7th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.02). The company 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, equities research analysts forecast that Catalent, Inc. will post 2.84 EPS for the current year.

Catalent Profile

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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.