Why Catalent Stock Was on Fire This Week
Healthcare stocks were quite a mixed bag over the past few trading sessions, but one standout rising above the pack was contract drug manufacturer Catalent (NYSE: CTLT). The company's shares got a nice lift after it reported quarterly results. The stock's price rose by nearly 26% over the week, according to data compiled by S&P Global Market Intelligence.
For its second quarter of fiscal 2023, Catalent's revenue was $1.15 billion, representing a 6% drop from the same period of the previous fiscal year. The company's non-GAAP (adjusted) net income also fell, sliding to $122 million ($0.67 per share) from the year-ago profit of $163 million.
Analysts tracking the company were broadly in the neighborhood with their estimates for the quarter. On average, they were projecting $1.12 billion in revenue, and an adjusted net income of $0.69 per share.
Source Fool.com
