Benzinga | Aug 31, 2020 11:19AM EDT

Why Catalent's Stock Is Trading Higher Today

Catalent (NYSE:CTLT) shares are trading higher on Monday after the company reported better-than-expected fourth-quarter EPS and sales results. The company also issued fiscal year 2021 sales guidance above analysts estimates.

The company reported quarterly earnings of 90 cents per share, which beat the analyst consensus estimate of 79 cents. The company reported quarterly sales of $947.60 million, which beat the analyst consensus estimate of $895.51 million.

Catalent sees fiscal year 2021 sales $3.45-$3.60 billion versus the $3.05 billion estimate.

Catalent is a specialty and generic drug manufacturing company. The company focuses on advanced delivery technologies and development solutions for drugs, biologics, and consumer health products. The vast majority of Catalent's sales are generated in the United States, followed by Europe and the rest of the world. Most of the company's sales are derived from branded drug products.

Catalent shares were trading up 3.59% at $90.81 on Monday during the time of publication. The stock has a 52-week high of $91.95 and a 52-week low of $31.04.