Hartford Investment Management Co. Increases Stock Position in Catalent, Inc. (NYSE:CTLT)

Posted by Defense World Staff on Aug 19th, 2023

Hartford Investment Management Co. increased its position in shares of Catalent, Inc. (NYSE:CTLT – Free Report) by 16.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,202 shares of the company’s stock after purchasing an additional 2,190 shares during the quarter. Hartford Investment Management Co.’s holdings in Catalent were worth $999,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Catalent by 2.7% during the first quarter. Vanguard Group Inc. now owns 18,971,342 shares of the company’s stock valued at $2,103,921,000 after acquiring an additional 492,071 shares during the last quarter. Veritas Asset Management LLP increased its position in shares of Catalent by 60.5% during the 4th quarter. Veritas Asset Management LLP now owns 11,169,815 shares of the company’s stock valued at $502,753,000 after purchasing an additional 4,212,040 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Catalent by 33.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 7,842,308 shares of the company’s stock worth $352,982,000 after purchasing an additional 1,973,505 shares during the period. State Street Corp grew its position in Catalent by 0.9% during the third quarter. State Street Corp now owns 7,126,800 shares of the company’s stock valued at $515,695,000 after buying an additional 67,054 shares during the period. Finally, American Century Companies Inc. increased its holdings in Catalent by 34.0% during the fourth quarter. American Century Companies Inc. now owns 4,142,585 shares of the company’s stock worth $186,458,000 after buying an additional 1,051,160 shares during the last quarter.

Catalent Stock Performance

NYSE CTLT opened at $44.36 on Friday. The company’s 50 day moving average is $45.28 and its 200-day moving average is $51.75. Catalent, Inc. has a 12-month low of $31.45 and a 12-month high of $106.65. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 0.91. The firm has a market cap of $8.00 billion, a P/E ratio of 201.65, a price-to-earnings-growth ratio of 5.24 and a beta of 1.23.

Catalent (NYSE:CTLT – Get Free Report) last posted its earnings results on Monday, June 12th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $930.44 million. Catalent had a net margin of 0.93% and a return on equity of 7.13%. Sell-side analysts predict that Catalent, Inc. will post 0.84 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CTLT shares. Wells Fargo & Company assumed coverage on shares of Catalent in a research report on Thursday, July 20th. They set an “equal weight” rating and a $43.00 target price for the company. StockNews.com initiated coverage on Catalent in a research report on Thursday, May 18th. They issued a “sell” rating for the company. Bank of America upped their price target on Catalent from $28.00 to $33.00 in a research report on Tuesday, June 13th. Barclays lifted their price objective on Catalent from $35.00 to $42.00 in a report on Monday, June 12th. Finally, TheStreet downgraded shares of Catalent from a “c” rating to a “d+” rating in a report on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.92.

Read Our Latest Research Report on CTLT

Insider Buying and Selling

In related news, CEO Alessandro Maselli sold 1,485 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.13, for a total transaction of $69,988.05. Following the sale, the chief executive officer now owns 86,101 shares of the company’s stock, valued at approximately $4,057,940.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 1,889 shares of company stock valued at $89,248. Company insiders own 0.58% of the company’s stock.

Catalent Profile

(Free Report)

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.