Ryan Michelle R, a director at Catalent, Inc. (NYSE:CTLT), recently sold 2,800 shares of the company's common stock, according to a recent SEC filing. The shares were sold at a price of $59.70 each, amounting to a total transaction value of $167,160. Following this sale, Ryan Michelle R now holds 10,835 shares, including restricted stock units. The shares were sold to cover taxes related to a previous grant of restricted stock units under Catalent's non-employee director compensation program.
In other recent news, Catalent, a contract drug manufacturer, reported first-quarter revenue of $1.02 billion, falling short of the Wall Street consensus of $1.06 billion. The company also disclosed an unexpected loss for the quarter. The Biologics segment underperformed, generating $461 million, compared to the anticipated $470.57 million. Meanwhile, the company is in the process of being acquired by Novo Holdings, a deal valued at $16.5 billion and expected to finalize by the end of 2024. EU antitrust regulators are set to make a decision on the acquisition by December 6. Jefferies maintained a Hold rating on Catalent, with a price target of $63.50, highlighting disappointing first quarter results, particularly in the Biologics segment. The Performance Chemicals division, however, stayed on course. These are recent developments in the company's journey.
InvestingPro Insights
As we delve deeper into Catalent's financial landscape, recent data from InvestingPro sheds light on the company's current position and future prospects. Despite the recent insider sale, Catalent's stock has shown remarkable resilience, with a 66.48% price total return over the past year. This performance aligns with an InvestingPro Tip indicating that the stock has delivered a high return over the last year.
Currently trading at $59.15, Catalent is near its 52-week high, with its price at 96.85% of the peak. This strength is reflected in another InvestingPro Tip, which notes that the stock generally trades with low price volatility, suggesting a level of stability that may be attractive to investors.
Looking ahead, analysts are optimistic about Catalent's profitability. An InvestingPro Tip reveals that net income is expected to grow this year, and analysts predict the company will be profitable. This positive outlook comes despite Catalent not being profitable over the last twelve months, highlighting the potential for a turnaround.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights, with 5 more tips available for Catalent. These tips could provide valuable context for understanding the recent insider sale and the company's future trajectory.
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