Schaeffer's 43rd Anniversary Stock Picks in 2024

Catalent Sees Drop in Covid-Related Product Revenue in 2023

The company did post a fiscal fourth-quarter revenue beat, however

Digital Content Manager
Aug 29, 2022 at 9:40 AM
facebook X logo linkedin

The shares of Catalent Inc (NYSE:CTLC) are down 1.7% at $98 this morning, following the pharmaceutical company's fiscal fourth-quarter earnings report. While Catalent's adjusted profits of $1.19 per share topped analysts' estimates, its revenue fell below expectations. The company's fiscal 2023 revenue forecast also missed the mark, after it said it expects a decline in revenue from Covid-19 products in the coming year. 

The stock has seen a dramatic drop from its late-July high and subsequent attempt to rally back toward this level in mid-August. The stock broke down below recent support at the 30-day moving average just a week after its August surge, and last week the 100-day moving average emerged as another ceiling on the charts. Plus, today's drop has the equity set to open back below a floor at the $99 level. Year-to-date, CTLT has shed 22.1%. 

Analysts have yet to chime in, though it could just be a matter of time if the stock's dismal price action continues. Of the 11 in coverage, 10 consider CTLT a "buy" or better. What's more, the 12-month consensus price target of $136.85 is a lofty 37.3% premium to last night's close. 

Short sellers, meanwhile, have been jumping ship during the past month, dropping nearly 21% in the most recent reporting period. The 3.13 million shares sold short make up a slim 1.8% of the stock's available float, or a little under three days' worth of pent-up buying power. 




A.I.’s Dirty Little Secret: The Real Power Behind The AI. Boom ✨

Anyone who’s seen the The Matrix movies knows that A.I. needs power.  Lots and lots of power.

If you’ve seen the movie, you also know the grizzly results of the ensuing battle for that power.

Now, Wall Street’s battle for A.I. power won’t go to such extremes. Hopefully?

A.I. needs more power and that means more opportunities for stock traders in the know.

Download your free copy of “The A.I. Revolution: 4 Stocks to Buy Now”!