HGC Investment Management Inc. Acquires New Shares in Catalent, Inc. (NYSE:CTLT)

HGC Investment Management Inc. purchased a new position in shares of Catalent, Inc. (NYSE:CTLT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 69,659 shares of the company’s stock, valued at approximately $4,219,000. Catalent comprises 1.8% of HGC Investment Management Inc.’s investment portfolio, making the stock its 18th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of Catalent by 129.2% in the 2nd quarter. Millennium Management LLC now owns 4,079,964 shares of the company’s stock worth $229,416,000 after buying an additional 2,299,784 shares during the last quarter. Alpine Associates Management Inc. lifted its holdings in Catalent by 3.4% during the third quarter. Alpine Associates Management Inc. now owns 2,131,126 shares of the company’s stock worth $129,082,000 after acquiring an additional 69,875 shares during the period. Bank of New York Mellon Corp boosted its position in Catalent by 14.9% in the second quarter. Bank of New York Mellon Corp now owns 1,930,621 shares of the company’s stock worth $108,559,000 after purchasing an additional 250,999 shares during the last quarter. Bank of Montreal Can grew its stake in Catalent by 181.5% in the 3rd quarter. Bank of Montreal Can now owns 1,813,167 shares of the company’s stock valued at $109,388,000 after purchasing an additional 1,169,044 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Catalent by 5.1% in the 2nd quarter. Marshall Wace LLP now owns 1,792,951 shares of the company’s stock worth $100,818,000 after buying an additional 86,533 shares during the last quarter.

Catalent Price Performance

NYSE CTLT opened at $61.45 on Tuesday. The company’s 50 day simple moving average is $59.93 and its two-hundred day simple moving average is $58.55. The company has a current ratio of 2.51, a quick ratio of 1.96 and a debt-to-equity ratio of 1.38. Catalent, Inc. has a 1 year low of $36.74 and a 1 year high of $61.50.

Catalent (NYSE:CTLT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.18). The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Catalent had a negative return on equity of 0.66% and a negative net margin of 9.28%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.10) EPS. On average, research analysts anticipate that Catalent, Inc. will post 0.84 earnings per share for the current year.

Insider Buying and Selling at Catalent

In other Catalent news, Director Michelle R. Ryan sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.70, for a total value of $167,160.00. Following the completion of the sale, the director now owns 10,835 shares of the company’s stock, valued at $646,849.50. This represents a 20.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Mcerlane sold 1,994 shares of Catalent stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $59.97, for a total transaction of $119,580.18. Following the transaction, the insider now directly owns 36,304 shares in the company, valued at $2,177,150.88. This trade represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,114 shares of company stock worth $305,931 over the last three months. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $63.50 target price on shares of Catalent in a research note on Tuesday, September 24th. Baird R W downgraded Catalent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. William Blair reaffirmed a “market perform” rating on shares of Catalent in a research report on Tuesday, September 3rd. Finally, StockNews.com raised Catalent from a “sell” rating to a “hold” rating in a report on Monday. Eight analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.40.

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. It operates in two segments, Biologics, and Pharma and Consumer Health. The Biologics segment provides formulation, development, and manufacturing for biologic proteins, cell gene, and other nucleic acid therapies; pDNA, iPSCs, oncolytic viruses, and vaccines; formulation, development, and manufacturing for parenteral dose forms, including vials, prefilled syringes, and cartridges; and analytical development and testing services for large molecules.