Why Catalent Stock Surged Nearly 5% Higher Today
Contract drug manufacturer (NYSE: CTLT) provided some very effective medicine to its investors on Tuesday. The company's shares leaped almost 5% higher following the publication of its latest set of quarterly results. That compared quite favorably to the 1.5% gain of the S 500 index on the day.
For its fourth quarter of fiscal 2023, Catalent's revenue totaled $1.07 billion. While that was a 17% decline year over year, it exceeded the average-analyst estimate of $1.05 billion. On the bottom line, non-GAAP (adjusted) net income shrank considerably; it came in at $16 million ($0.09 per share) from the year-ago tally of $195 million. The collective prognosticator forecast was $0.11 per share.
Catalent has had numerous issues with its production lines at three factories and is seen by many to be a struggling company.
Source Fool.com
Catalent Inc. Stock
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the Catalent Inc. stock is not clear.
With a target price of 55 € there is a slightly positive potential of 6.14% for Catalent Inc. compared to the current price of 51.82 €.
