Argus Research Upgrades Catalent

Fintel reports that on September 5, 2023, Argus Research upgraded their outlook for Catalent (NYSE:CTLT) from Hold to Buy.

Analyst Price Forecast Suggests 7.11% Upside

As of August 31, 2023, the average one-year price target for Catalent is 53.77. The forecasts range from a low of 39.39 to a high of $90.30. The average price target represents an increase of 7.11% from its latest reported closing price of 50.20.

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The projected annual revenue for Catalent is 5,242MM, an increase of 22.59%. The projected annual non-GAAP EPS is 3.84.

What is the Fund Sentiment?

There are 1074 funds or institutions reporting positions in Catalent. This is a decrease of 152 owner(s) or 12.40% in the last quarter. Average portfolio weight of all funds dedicated to CTLT is 0.24%, a decrease of 6.94%. Total shares owned by institutions increased in the last three months by 2.20% to 239,112K shares. The put/call ratio of CTLT is 0.77, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital World Investors holds 15,960K shares representing 8.85% ownership of the company. In it’s prior filing, the firm reported owning 13,404K shares, representing an increase of 16.02%. The firm decreased its portfolio allocation in CTLT by 26.88% over the last quarter.

Janus Henderson Group holds 14,737K shares representing 8.18% ownership of the company. In it’s prior filing, the firm reported owning 12,016K shares, representing an increase of 18.46%. The firm decreased its portfolio allocation in CTLT by 24.63% over the last quarter.

T. Rowe Price Investment Management holds 13,434K shares representing 7.45% ownership of the company. In it’s prior filing, the firm reported owning 12,024K shares, representing an increase of 10.50%. The firm decreased its portfolio allocation in CTLT by 29.95% over the last quarter.

Nomura Holdings holds 8,436K shares representing 4.68% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Veritas Asset Management LLP holds 6,784K shares representing 3.76% ownership of the company. In it’s prior filing, the firm reported owning 6,885K shares, representing a decrease of 1.49%. The firm decreased its portfolio allocation in CTLT by 33.85% over the last quarter.

Catalent Background Information
(This description is provided by the company.)

Catalent, Inc., an S&P 500® Company, is the leading global provider of advanced delivery technologies, development, and manufacturing solutions for drugs, biologics, cell and gene therapies, and consumer health products. With over 85 years serving the industry, Catalent has proven expertise in bringing more customer products to market faster, enhancing product performance and ensuring reliable global clinical and commercial product supply. Catalent employs over 14,000 people, including over 2,400 scientists and technicians, at more than 40 facilities across four continents, and in fiscal year 2020 generated over $3 billion in annual revenue. Catalent is headquartered in Somerset, New Jersey.

This article originally appeared on Fintel