PNC Financial Services Group Inc. Reduces Position in Catalent, Inc. (NYSE:CTLT)

PNC Financial Services Group Inc. decreased its holdings in Catalent, Inc. (NYSE:CTLT) by 4.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 18,394 shares of the company’s stock after selling 955 shares during the period. PNC Financial Services Group Inc.’s holdings in Catalent were worth $1,114,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Millennium Management LLC grew its stake in Catalent by 129.2% in the 2nd quarter. Millennium Management LLC now owns 4,079,964 shares of the company’s stock valued at $229,416,000 after buying an additional 2,299,784 shares in the last quarter. Alpine Associates Management Inc. boosted its holdings in shares of Catalent by 3.8% in the second quarter. Alpine Associates Management Inc. now owns 2,061,251 shares of the company’s stock worth $115,904,000 after acquiring an additional 75,700 shares during the period. Bank of New York Mellon Corp grew its position in shares of 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 valued at $108,559,000 after purchasing an additional 250,999 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Catalent by 5.1% during the 2nd quarter. Marshall Wace LLP now owns 1,792,951 shares of the company’s stock valued at $100,818,000 after purchasing an additional 86,533 shares during the period. Finally, ING Groep NV lifted its holdings in Catalent by 162.5% during the 3rd quarter. ING Groep NV now owns 1,130,504 shares of the company’s stock worth $68,475,000 after purchasing an additional 699,851 shares in the last quarter.

Catalent Stock Up 0.4 %

CTLT stock opened at $61.00 on Thursday. The company’s 50 day moving average is $59.84 and its 200 day moving average is $58.39. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of -26.88, a price-to-earnings-growth ratio of 2.44 and a beta of 1.16. 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 results on Tuesday, November 5th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.18). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.06 billion. Catalent had a negative return on equity of 0.66% and a negative net margin of 9.28%. Catalent’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.10) EPS. Sell-side analysts predict that Catalent, Inc. will post 0.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. William Blair reaffirmed a “market perform” rating on shares of Catalent in a report on Tuesday, September 3rd. StockNews.com cut shares of Catalent from a “hold” rating to a “sell” rating in a research note on Friday, November 22nd. Baird R W cut shares of Catalent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Robert W. Baird restated a “neutral” rating and set a $63.50 price target on shares of Catalent in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.40.

Insider Activity at Catalent

In other Catalent news, insider David Mcerlane sold 1,994 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $59.97, for a total value of $119,580.18. Following the completion of the sale, the insider now owns 36,304 shares of the company’s stock, valued at $2,177,150.88. This represents a 5.21 % 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, Director Michelle R. Ryan sold 2,800 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.70, for a total transaction of $167,160.00. Following the transaction, the director now owns 10,835 shares in the company, valued at $646,849.50. The trade was a 20.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,114 shares of company stock valued at $305,931 over the last 90 days. 0.31% of the stock is owned by insiders.

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.