Intrinsic value of Catalent - CTLT

Previous Close

$42.86

  Intrinsic Value

$19.72

stock screener

  Rating & Target

str. sell

-54%

Previous close

$42.86

 
Intrinsic value

$19.72

 
Up/down potential

-54%

 
Rating

str. sell

We calculate the intrinsic value of CTLT stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 5.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  12.30
  11.57
  10.91
  10.32
  9.79
  9.31
  8.88
  8.49
  8.14
  7.83
  7.55
  7.29
  7.06
  6.86
  6.67
  6.50
  6.35
  6.22
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
  5.42
  5.38
  5.34
Revenue, $m
  2,330
  2,600
  2,884
  3,181
  3,493
  3,818
  4,157
  4,510
  4,877
  5,259
  5,656
  6,068
  6,496
  6,942
  7,405
  7,886
  8,387
  8,909
  9,452
  10,018
  10,607
  11,222
  11,864
  12,534
  13,234
  13,965
  14,729
  15,528
  16,364
  17,238
Variable operating expenses, $m
  2,039
  2,260
  2,492
  2,736
  2,991
  3,257
  3,534
  3,823
  4,124
  4,436
  4,629
  4,967
  5,317
  5,682
  6,061
  6,455
  6,865
  7,292
  7,737
  8,200
  8,682
  9,186
  9,711
  10,260
  10,832
  11,431
  12,056
  12,710
  13,394
  14,110
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,039
  2,260
  2,492
  2,736
  2,991
  3,257
  3,534
  3,823
  4,124
  4,436
  4,629
  4,967
  5,317
  5,682
  6,061
  6,455
  6,865
  7,292
  7,737
  8,200
  8,682
  9,186
  9,711
  10,260
  10,832
  11,431
  12,056
  12,710
  13,394
  14,110
Operating income, $m
  291
  340
  392
  446
  502
  561
  623
  687
  753
  823
  1,026
  1,101
  1,179
  1,260
  1,344
  1,431
  1,522
  1,617
  1,715
  1,818
  1,925
  2,037
  2,153
  2,275
  2,402
  2,534
  2,673
  2,818
  2,970
  3,128
EBITDA, $m
  676
  754
  836
  923
  1,013
  1,107
  1,206
  1,308
  1,415
  1,525
  1,641
  1,760
  1,884
  2,014
  2,148
  2,288
  2,433
  2,584
  2,742
  2,906
  3,077
  3,255
  3,441
  3,636
  3,839
  4,051
  4,272
  4,504
  4,747
  5,000
Interest expense (income), $m
  81
  112
  130
  150
  170
  191
  213
  236
  260
  285
  311
  339
  367
  396
  427
  458
  491
  525
  561
  598
  637
  677
  719
  762
  808
  856
  905
  957
  1,012
  1,068
  1,128
Earnings before tax, $m
  179
  210
  242
  276
  311
  348
  386
  426
  468
  511
  688
  734
  783
  833
  886
  940
  997
  1,056
  1,117
  1,181
  1,248
  1,318
  1,391
  1,467
  1,546
  1,629
  1,716
  1,806
  1,901
  2,000
Tax expense, $m
  48
  57
  65
  74
  84
  94
  104
  115
  126
  138
  186
  198
  211
  225
  239
  254
  269
  285
  302
  319
  337
  356
  375
  396
  417
  440
  463
  488
  513
  540
Net income, $m
  131
  153
  177
  201
  227
  254
  282
  311
  342
  373
  502
  536
  571
  608
  646
  686
  728
  771
  816
  862
  911
  962
  1,015
  1,071
  1,128
  1,189
  1,252
  1,319
  1,388
  1,460

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,877
  4,326
  4,798
  5,293
  5,811
  6,352
  6,916
  7,504
  8,115
  8,750
  9,410
  10,096
  10,809
  11,550
  12,321
  13,122
  13,956
  14,823
  15,727
  16,668
  17,650
  18,673
  19,741
  20,856
  22,020
  23,236
  24,508
  25,837
  27,228
  28,683
Adjusted assets (=assets-cash), $m
  3,877
  4,326
  4,798
  5,293
  5,811
  6,352
  6,916
  7,504
  8,115
  8,750
  9,410
  10,096
  10,809
  11,550
  12,321
  13,122
  13,956
  14,823
  15,727
  16,668
  17,650
  18,673
  19,741
  20,856
  22,020
  23,236
  24,508
  25,837
  27,228
  28,683
Revenue / Adjusted assets
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
  0.601
Average production assets, $m
  2,531
  2,823
  3,132
  3,455
  3,793
  4,146
  4,514
  4,898
  5,296
  5,711
  6,142
  6,590
  7,055
  7,539
  8,042
  8,564
  9,109
  9,675
  10,265
  10,879
  11,520
  12,188
  12,885
  13,612
  14,372
  15,166
  15,996
  16,864
  17,771
  18,721
Working capital, $m
  23
  26
  29
  32
  35
  38
  42
  45
  49
  53
  57
  61
  65
  69
  74
  79
  84
  89
  95
  100
  106
  112
  119
  125
  132
  140
  147
  155
  164
  172
Total debt, $m
  2,416
  2,771
  3,145
  3,536
  3,946
  4,374
  4,820
  5,285
  5,768
  6,271
  6,793
  7,336
  7,900
  8,486
  9,095
  9,729
  10,388
  11,075
  11,789
  12,534
  13,310
  14,120
  14,964
  15,846
  16,767
  17,729
  18,735
  19,787
  20,886
  22,037
Total liabilities, $m
  3,067
  3,422
  3,795
  4,187
  4,597
  5,025
  5,471
  5,935
  6,419
  6,921
  7,443
  7,986
  8,550
  9,136
  9,746
  10,379
  11,039
  11,725
  12,440
  13,185
  13,961
  14,770
  15,615
  16,497
  17,418
  18,380
  19,386
  20,437
  21,537
  22,688
Total equity, $m
  810
  904
  1,003
  1,106
  1,215
  1,328
  1,446
  1,568
  1,696
  1,829
  1,967
  2,110
  2,259
  2,414
  2,575
  2,742
  2,917
  3,098
  3,287
  3,484
  3,689
  3,903
  4,126
  4,359
  4,602
  4,856
  5,122
  5,400
  5,691
  5,995
Total liabilities and equity, $m
  3,877
  4,326
  4,798
  5,293
  5,812
  6,353
  6,917
  7,503
  8,115
  8,750
  9,410
  10,096
  10,809
  11,550
  12,321
  13,121
  13,956
  14,823
  15,727
  16,669
  17,650
  18,673
  19,741
  20,856
  22,020
  23,236
  24,508
  25,837
  27,228
  28,683
Debt-to-equity ratio
  2.980
  3.070
  3.140
  3.200
  3.250
  3.290
  3.330
  3.370
  3.400
  3.430
  3.450
  3.480
  3.500
  3.520
  3.530
  3.550
  3.560
  3.570
  3.590
  3.600
  3.610
  3.620
  3.630
  3.640
  3.640
  3.650
  3.660
  3.660
  3.670
  3.680
Adjusted equity ratio
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209
  0.209

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  131
  153
  177
  201
  227
  254
  282
  311
  342
  373
  502
  536
  571
  608
  646
  686
  728
  771
  816
  862
  911
  962
  1,015
  1,071
  1,128
  1,189
  1,252
  1,319
  1,388
  1,460
Depreciation, amort., depletion, $m
  385
  414
  445
  477
  511
  546
  583
  621
  661
  703
  614
  659
  706
  754
  804
  856
  911
  967
  1,026
  1,088
  1,152
  1,219
  1,288
  1,361
  1,437
  1,517
  1,600
  1,686
  1,777
  1,872
Funds from operations, $m
  515
  567
  621
  678
  738
  800
  865
  933
  1,003
  1,076
  1,116
  1,195
  1,277
  1,362
  1,451
  1,543
  1,638
  1,738
  1,842
  1,950
  2,063
  2,181
  2,304
  2,432
  2,566
  2,706
  2,852
  3,005
  3,165
  3,332
Change in working capital, $m
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
Cash from operations, $m
  513
  564
  619
  676
  735
  797
  862
  929
  999
  1,072
  1,112
  1,191
  1,273
  1,358
  1,446
  1,538
  1,633
  1,733
  1,837
  1,945
  2,057
  2,175
  2,297
  2,425
  2,559
  2,698
  2,844
  2,997
  3,157
  3,324
Maintenance CAPEX, $m
  -225
  -253
  -282
  -313
  -345
  -379
  -415
  -451
  -490
  -530
  -571
  -614
  -659
  -706
  -754
  -804
  -856
  -911
  -967
  -1,026
  -1,088
  -1,152
  -1,219
  -1,288
  -1,361
  -1,437
  -1,517
  -1,600
  -1,686
  -1,777
New CAPEX, $m
  -276
  -293
  -308
  -323
  -338
  -353
  -368
  -383
  -399
  -415
  -431
  -448
  -465
  -484
  -503
  -523
  -544
  -566
  -590
  -614
  -641
  -668
  -697
  -728
  -760
  -794
  -830
  -868
  -908
  -950
Cash from investing activities, $m
  -501
  -546
  -590
  -636
  -683
  -732
  -783
  -834
  -889
  -945
  -1,002
  -1,062
  -1,124
  -1,190
  -1,257
  -1,327
  -1,400
  -1,477
  -1,557
  -1,640
  -1,729
  -1,820
  -1,916
  -2,016
  -2,121
  -2,231
  -2,347
  -2,468
  -2,594
  -2,727
Free cash flow, $m
  11
  19
  28
  39
  51
  65
  79
  94
  111
  128
  110
  129
  148
  168
  189
  211
  233
  256
  279
  304
  329
  355
  381
  409
  438
  467
  498
  530
  563
  597
Issuance/(repayment) of debt, $m
  337
  355
  373
  392
  410
  428
  446
  465
  483
  502
  522
  543
  564
  586
  609
  634
  659
  686
  715
  745
  776
  810
  845
  882
  921
  962
  1,006
  1,052
  1,100
  1,151
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  337
  355
  373
  392
  410
  428
  446
  465
  483
  502
  522
  543
  564
  586
  609
  634
  659
  686
  715
  745
  776
  810
  845
  882
  921
  962
  1,006
  1,052
  1,100
  1,151
Total cash flow (excl. dividends), $m
  348
  373
  402
  431
  461
  493
  525
  559
  594
  630
  632
  672
  712
  755
  799
  844
  892
  942
  994
  1,048
  1,105
  1,164
  1,226
  1,291
  1,359
  1,429
  1,504
  1,581
  1,663
  1,748
Retained Cash Flow (-), $m
  -86
  -94
  -99
  -104
  -108
  -113
  -118
  -123
  -128
  -133
  -138
  -143
  -149
  -155
  -161
  -167
  -174
  -181
  -189
  -197
  -205
  -214
  -223
  -233
  -243
  -254
  -266
  -278
  -291
  -304
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  21
  23
  26
  29
  32
  35
  38
  42
  45
  49
  53
  57
  61
  65
  69
  74
  79
  84
  89
  95
  100
  106
  112
  119
  125
  132
  140
  147
  155
  164
Cash available for distribution, $m
  262
  280
  303
  327
  353
  380
  407
  436
  466
  498
  494
  528
  563
  600
  638
  677
  718
  761
  805
  852
  900
  950
  1,003
  1,058
  1,115
  1,175
  1,238
  1,303
  1,372
  1,444
Discount rate, %
  9.30
  9.77
  10.25
  10.77
  11.30
  11.87
  12.46
  13.09
  13.74
  14.43
  15.15
  15.91
  16.70
  17.54
  18.41
  19.33
  20.30
  21.32
  22.38
  23.50
  24.68
  25.91
  27.20
  28.57
  29.99
  31.49
  33.07
  34.72
  36.46
  38.28
PV of cash for distribution, $m
  239
  232
  226
  217
  207
  194
  179
  163
  146
  129
  105
  90
  76
  62
  51
  40
  31
  23
  17
  12
  9
  6
  4
  3
  2
  1
  1
  0
  0
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Catalent, Inc. provides delivery technologies and development solutions for drugs, biologics, and consumer and animal health products. Its segments include Softgel Technologies, Drug Delivery Solutions and Clinical Supply Services. The Softgel Technologies segment is engaged in the formulation, development and manufacturing of prescription and consumer health soft capsules or softgels. The Drug Delivery Solutions segment is engaged in the formulation, development and manufacturing of prescription and consumer and animal health products; blow-fill seal unit dose manufacturing; biologic cell line development; analytical and bioanalytical development, and testing services. The Clinical Supply Services segment is engaged in manufacturing, packaging, labeling, storage, distribution and inventory management for clinical trials of drugs and biologics for patient kits; FastChain clinical supply service; clinical e-solutions and informatics, and global comparator sourcing services.

FINANCIAL RATIOS  of  Catalent (CTLT)

Valuation Ratios
P/E Ratio 48.7
Price to Sales 2.6
Price to Book 7.4
Price to Tangible Book
Price to Cash Flow 17.9
Price to Free Cash Flow 33.5
Growth Rates
Sales Growth Rate 12.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 2.8%
Financial Strength
Quick Ratio 12
Current Ratio 0.1
LT Debt to Equity 283.8%
Total Debt to Equity 287.3%
Interest Coverage 3
Management Effectiveness
Return On Assets 5.4%
Ret/ On Assets - 3 Yr. Avg. 8.1%
Return On Total Capital 4.2%
Ret/ On T. Cap. - 3 Yr. Avg. 5.8%
Return On Equity 16.2%
Return On Equity - 3 Yr. Avg. 65%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 31.6%
Gross Margin - 3 Yr. Avg. 32.3%
EBITDA Margin 17.5%
EBITDA Margin - 3 Yr. Avg. 19.1%
Operating Margin 11%
Oper. Margin - 3 Yr. Avg. 11.6%
Pre-Tax Margin 6.6%
Pre-Tax Margin - 3 Yr. Avg. 6.9%
Net Profit Margin 5.3%
Net Profit Margin - 3 Yr. Avg. 7.6%
Effective Tax Rate 19.1%
Eff/ Tax Rate - 3 Yr. Avg. -14.4%
Payout Ratio 0%

CTLT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CTLT stock intrinsic value calculation we used $2075 million for the last fiscal year's total revenue generated by Catalent. The default revenue input number comes from 2017 income statement of Catalent. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CTLT stock valuation model: a) initial revenue growth rate of 12.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 9.3%, whose default value for CTLT is calculated based on our internal credit rating of Catalent, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Catalent.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CTLT stock the variable cost ratio is equal to 88.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CTLT stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Catalent.

Corporate tax rate of 27% is the nominal tax rate for Catalent. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CTLT stock is equal to 1%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CTLT are equal to 108.6%.

Life of production assets of 10 years is the average useful life of capital assets used in Catalent operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CTLT is equal to 1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $724 million for Catalent - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 125 million for Catalent is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Catalent at the current share price and the inputted number of shares is $5.4 billion.

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COMPANY NEWS

▶ WeissLaw LLP Investigates Juniper Pharmaceuticals, Inc.   [Jul-05-18 04:33PM  PR Newswire]
▶ Company News For Jul 5, 2018   [09:40AM  Zacks]
▶ Catalent to acquire Boston's Juniper Pharmaceuticals for $128M   [Jul-03-18 11:07AM  American City Business Journals]
▶ Tenant on former Marion Labs campus completes $5.5M expansion   [May-22-18 03:39PM  American City Business Journals]
▶ Catalent: Fiscal 3Q Earnings Snapshot   [May-01-18 09:05AM  Associated Press]
▶ Catalent Q3 Earnings Outlook   [Apr-30-18 02:48PM  Benzinga]
▶ 5 Drug Stocks Poised to Surpass on Earnings This Quarter   [Apr-17-18 04:00PM  InvestorPlace]
▶ Edited Transcript of CTLT presentation 7-Mar-17 12:30pm GMT   [Apr-10-18 11:16AM  Thomson Reuters StreetEvents]
▶ Catalent Announces Changes to its Board of Directors   [Feb-20-18 07:45AM  Business Wire]
▶ [$$] Allergan Names Matthew Walsh New Finance Chief   [09:17AM  The Wall Street Journal]
▶ Catalent reports 2Q loss   [08:04AM  Associated Press]
▶ 5 Opioid Treatment Stocks   [06:52AM  Insider Monkey]
▶ New Strong Sell Stocks for January 3rd   [Jan-03-18 05:01AM  Zacks]
▶ New Strong Sell Stocks for December 29th   [Dec-29-17 09:17AM  Zacks]
▶ ETFs with exposure to Catalent, Inc. : December 27, 2017   [Dec-27-17 11:07AM  Capital Cube]
▶ Stocks Showing Rising Market Leadership: Catalent Earns 83 RS Rating   [Dec-07-17 03:00AM  Investor's Business Daily]
▶ ETFs with exposure to Catalent, Inc. : November 8, 2017   [Nov-08-17 05:51PM  Capital Cube]
▶ Catalent beats Street 1Q forecasts   [Nov-06-17 07:43AM  Associated Press]
▶ Catalent Completes Acquisition of Cook Pharmica   [Oct-24-17 02:00AM  Business Wire]
▶ This No. 1-Ranked Medical Stock Is Breaking Out With Q3 Earnings Due   [Oct-13-17 11:40AM  Investor's Business Daily]
▶ ETFs with exposure to Catalent, Inc. : October 9, 2017   [Oct-09-17 11:26AM  Capital Cube]
▶ Cook Medical parent company sells subsidiary for $950M   [Sep-20-17 11:00AM  American City Business Journals]
▶ Catalent Dips On $950 Million Acquisition Of Cook Pharmica   [Sep-19-17 04:20PM  Investor's Business Daily]
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