Here’s Why You Should Consider Buying Catalent (CTLT) Stock

ClearBridge Investments, an investment management firm, published its “Mid Cap Growth Strategy” second quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Mid Cap Growth Strategy underperformed the Russell Midcap Growth Index during the second quarter. On an absolute basis, the Strategy had losses across all 10 sectors in which it was invested during the quarter (out of 11 sectors total). The leading detractors were the IT and consumer discretionary sectors, while the real estate sector was the smallest detractor. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, ClearBridge Mid Cap Growth Strategy Fund mentioned Catalent, Inc. (NYSE:CTLT) and explained its insights for the company. Founded in 2007, Catalent, Inc. (NYSE:CTLT) is a Franklin Township, New Jersey-based pharmaceutical company with an $18.4 billion market capitalization. Catalent, Inc. (NYSE:CTLT) delivered a -19.79% return since the beginning of the year, while its 12-month returns are down by -20.49%. The stock closed at $102.69 per share on August 24, 2022.

Here is what ClearBridge Mid Cap Growth Strategy Fund has to say about Catalent, Inc. (NYSE:CTLT) in its Q2 2022 investor letter:

“While IT is traditionally considered the bastion of growth opportunities and continues to remain our largest absolute weighting in the portfolio, only three of the portfolio’s top 10 performers this quarter were in IT, with select names in the cyclical industrials and defensive health care sectors among the leading contributors. These included new addition Catalent (NYSE:CTLT) in the health care sector. On an individual stock basis, the biggest contributors to absolute returns in the quarter included Catalent.”

wavebreakmedia/Shutterstock.com

Our calculations show that Catalent, Inc. (NYSE:CTLT) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Catalent, Inc. (NYSE:CTLT) was in 41 hedge fund portfolios at the end of the second quarter of 2022, compared to 34 funds in the previous quarter. Catalent, Inc. (NYSE:CTLT) delivered a 6.21% return in the past 3 months.

In December 2021, we also shared another hedge fund’s views on Catalent, Inc. (NYSE:CTLT) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

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