Will Catalent (CTLT) be Able to Provide Long-Term Returns?

ClearBridge Investments, an investment management firm, released its fourth-quarter 2022 “Mid Cap Growth Strategy” investor letter – a copy of which can be downloaded here. The strategy underperformed the Russell Midcap Growth Index in the fourth quarter. It gained across six of the 10 sectors in which it was invested in the quarter. The industrials, health care, and consumer discretionary sectors were the leading contributors while the IT sector was the primary detractor. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Mid Cap Growth Strategy highlighted stocks like Catalent, Inc. (NYSE:CTLT) in the fourth quarter 2022 investor letter. Headquartered in Somerset, New Jersey, Catalent, Inc. (NYSE:CTLT) is a drug, protein-based biologics, cell, and gene therapies manufacturer. On February 16, 2023, Catalent, Inc. (NYSE:CTLT) stock closed at $71.89 per share. One-month return of Catalent, Inc. (NYSE:CTLT) was 45.85% and its shares lost 26.62% of their value over the last 52 weeks. Catalent, Inc. (NYSE:CTLT) has a market capitalization of $12.947 billion.

ClearBridge Mid Cap Growth Strategy made the following comment about Catalent, Inc. (NYSE:CTLT) in its Q4 2022 investor letter:

“We also trimmed our position in Catalent, Inc. (NYSE:CTLT), which develops and manufactures solutions for drugs, protein-based biologics, cell and gene therapies and consumer health products. The challenge of navigating through declining COVID-19 revenue, combined with supply chain disruptions and greater cyclicality, has extended longer than we anticipated. However, Catalent is responding by reshuffling internal assets to increase synergies and focus on its strong non-biologic franchises, such as its high-growth gummy vitamin business which we believe will be strong drivers of long-term returns.”

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Catalent, Inc. (NYSE:CTLT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Catalent, Inc. (NYSE:CTLT) at the end of the third quarter, which was 41 in the previous quarter.

We discussed Catalent, Inc. (NYSE:CTLT) in another article and shared Artisan Partners’ views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.