Will Catalent (CTLT) Stock Bounce Back?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small/Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2500 Growth Index and returned 0.22% (net), and the index return was -0.12%. During the quarter, weakness in Financials, Health Care, and Industrial sectors was offset by strength in Consumer Staples, Consumer Discretionary, and Information Technology sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Catalent, Inc. (NYSE:CTLT) in its Q3 2022 investor letter. Headquartered in  Somerset, New Jersey, Catalent, Inc. (NYSE:CTLT) is a drugs, protein-based biologics, cell and gene therapies manufacturer. On December 21, 2022, Catalent, Inc. (NYSE:CTLT) stock closed at $43.45 per share. One-month return of Catalent, Inc. (NYSE:CTLT) was 3.01%, and its shares lost 65.23% of their value over the last 52 weeks. Catalent, Inc. (NYSE:CTLT) has a market capitalization of $7.819 billion.

TimesSquare Capital made the following comment about Catalent, Inc. (NYSE:CTLT) in its Q3 2022 investor letter:

“The Health Care sector provided no balm to our performance in the third quarter. One area of pain was Catalent, Inc. (NYSE:CTLT), which was the strategy’s greatest detractor. A provider of delivery technologies and development solutions for a variety of medical health products, Catalent’s revenues were less than expected, though the culprit was unfavorable foreign exchange translations. Of greater concern to the market was the lower-than-expected guidance for the new fiscal year, which removed any potential COVID-related activity that had not already been contracted. Despite that absence, we believe Catalent has a favorable growth profile for the next year, though this quarter the market deducted -32% from its share price.”

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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 Aristotle Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 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.