Ultime notizie per Catalent (NYSE:CTLT) Azioni

Catalent

Catalent is a contract development and manufacturing organization, or CDMO. It operates under four segments: biologics, softgel and oral technologies, oral and specialty delivery, and clinical supply services. Catalent derives its revenues primarily from long-term supply agreements with pharmaceutical customers. The company provides a range of development and manufacturing solutions for drugs, protein-based biologics, cell and gene therapies, and consumer health products throughout the entire life cycle of a product from the drug development process to commercial supply. Catalent has over 50 facilities across four continents.

Catalent Inc

CATALENT ORD

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said Uranium Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UEC#NYSE">UEC</a>) is going higher. &#8220;UEC's the real deal…We need more uranium. I think it's a great <a href="https://www.benzinga.com/markets/equities/24/09/40983348/uranium-energy-strikes-175m-deal-to-acquire-rio-tintos-wyoming-assets">situation,&#8221; he added.</a>
On Sept. 23, Uranium Energy disclosed a deal to fully acquire Rio Tinto Plc‘s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) Wyoming assets for a purchase price of $175 million. As per the deal, the buyout includes the fully licensed Sweetwater Plant and a portfolio of uranium mining projects with around 175 million pounds of historic resources.
When asked about Novo Nordisk (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), he said, &#8220;Doesn't hold a candle to Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>).&#8221;
Sen. Elizabeth Warren (D-MA), last week, wrote a letter to the Federal Trade Commission's chair, Lina Khan, urging the department to investigate Novo Nordisk&#8217;s proposed $16.5 billion acquisition of contract development and manufacturing organization Catalent Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>) thoroughly, amid growing concerns about potential antitrust violations. Critics argue that this merger could increase Novo Nordisk's control over producing vital GLP-1 receptor agonists, drugs used to treat diabetes and obesity. This could potentially drive up <a href="https://www.benzinga.com/general/biotech/24/10/41277809/ftc-faces-pressure-to-block-novo-nordisk-catalent-merger-over-antitrust-fears">prices and limit competition</a>.
Cramer recommended staying away from Halliburton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>).
On Monday, BofA Securities analyst Chase Mulvehill maintained Halliburton with a Buy rating and lowered the price target from $40 to $38.
Price Action:
<ul>
<li>Novo Nordisk shares fell 0.2% to settle at $119.78 on Monday.</li>
<li>Uranium Energy shares gained 0.7% to close at $7.14.</li>
<li>Halliburton shares fell 0.8% to close at $30.58 on Monday.</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/markets/24/10/41320317/wall-streets-most-accurate-analysts-weigh-in-on-3-tech-and-telecom-stocks-with-over-4-dividend-yield">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Tech And Telecom Stocks With Over 4% Dividend Yields</a></li>
</ul>
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Jim Cramer: 'We Need More Uranium,' Recommends This Stock; Says Novo Nordisk 'Doesn't Hold A Candle' To Big Pharma Rival

Asset Sales

Catalent Agrees To Sell Its Oral Solids Development And Small-Scale Manufacturing Facility In Somerset, NJ; Financial Details Not Disclosed

United States Senator Elizabeth Warren wrote a letter to the Federal Trade Commission&#8217;s chair, Lina Khan, urging to investigate Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) proposed $16.5 billion acquisition of contract development and manufacturing organization Catalent Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>) thoroughly, amid growing concerns about <a target="_blank" href="https://www.benzinga.com/general/biotech/24/02/36931734/ozempic-maker-strikes-11b-deal-with-catalent-as-it-rushes-to-meet-massive-weight-loss-drug-demand" rel="noreferrer noopener">potential antitrust violations</a>.
Critics argue that this merger could increase Novo Nordisk&#8217;s control over producing vital GLP-1 receptor agonists, drugs used to treat diabetes and obesity. This could potentially drive up prices and limit competition.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41184148/novo-nordiskastrazenecas-manufacturing-partner-thermo-fisher-questioned-over-manufacturing-lapses" rel="noreferrer noopener">Novo Nordisk/AstraZeneca&#8217;s Manufacturing Partner Thermo Fisher Questioned Over Manufacturing Lapses</a>.
Novo Nordisk already has a dominant 55% share of the booming GLP-1 market due to the success of its blockbuster drugs, Ozempic and Wegovy.
Catalent plays a key role in filling and packaging Novo Nordisk&#8217;s GLP-1 products, but it also works with Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), Novo Nordisk&#8217;s main competitor in the GLP-1 market, primarily through its tirzepatide-based drugs, Mounjaro and Zepbound.
The concern is that if Novo Nordisk acquires Catalent, it could gain unprecedented access to Eli Lilly&#8217;s production capacity, potentially allowing it to prioritize its drugs over its competitors.
The letter <a target="_blank" href="https://www.warren.senate.gov/imo/media/doc/catalent1.pdf" rel="noreferrer noopener">highlights</a> that Novo Nordisk has faced scrutiny from the FTC. Earlier this year, the FTC warned Novo Nordisk for improperly listing patents related to its diabetes drugs in the FDA&#8217;s Orange Book.
This behavior, combined with the company&#8217;s current plans to acquire Catalent, raises concerns about Novo Nordisk&#8217;s ability to further hinder competition.
Over recent decades, the consolidation of the U.S. pharmaceutical industry has led to fewer dominant firms and higher drug prices. From 1995 to 2015, major pharmaceutical companies dropped from 60 to just 10, as large corporations increasingly controlled healthcare services, from insurance to pharmacies.
Novo Nordisk&#8217;s proposed acquisition of Catalent is considered part of this broader trend of vertical integration.
While Novo Nordisk claims it prioritizes patient access to diabetes medications, critics argue its actions suggest otherwise. The company recently discontinued Levemir, a long-acting insulin, the only option approved for <a target="_blank" href="https://www.benzinga.com/general/biotech/24/07/39801282/senate-to-review-novo-nordisks-levemir-insulin-discontinuation" rel="noreferrer noopener">use during pregnancy</a>.
Although Novo Nordisk cited unfavorable formulary placement as the reason, the decision is seen as a way to reallocate production resources to its more profitable GLP-1 drugs.
Price Action: At last check Thursday, NVO stock was up 0.46% at $117.54, and CTLT stock was down 0.53% at $60.64.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41274383/why-is-japanese-anime-production-company-bloomz-stock-jumping-on-thursday" target="_blank" rel="noreferrer noopener">Why Is Japanese Anime Production Company BloomZ Stock Jumping On Thursday?</a></li>
</ul>

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FTC Faces Pressure to Block Novo Nordisk-Catalent Merger Over Antitrust Fears

<a href="https://www.statnews.com/pharmalot/2024/10/10/novo-eli-lilly-obesity-weight-diabetes-warren-ftc-antitrust/">https://www.statnews.com/pharmalot/2024/10/10/novo-eli-lilly-obesity-weight-diabetes-warren-ftc-antitrust/</a>
&nbsp;
U.S. Sen. Elizabeth Warren has asked the Federal Trade Commission "closely scrutinize" a <a href="https://www.statnews.com/2024/02/05/novo-holdings-catalent-wegovy/#:~:text=LONDON%20%E2%80%94%20The%20investment%20arm,booming%20obesity%20and%20diabetes%20drugs.">$16.5 billion deal</a> in which Novo Nordisk's&nbsp;parent foundation would acquire Catalent, a leading contract drug manufacturer, over concerns the acquisition would give the pharmaceutical company an unfair advantage in the burgeoning market for drugs used to treat obesity and diabetes.
In <a href="https://www.warren.senate.gov/imo/media/doc/catalent1.pdf">a letter dated Wednesday</a>, Warren noted that Catalent fills and packages syringes and injection pens for Novo Nordisk and other drug manufacturers, including its biggest rival, Eli Lilly, which sells competing medications and also contracts with Catalent to fill and package its drugs. She noted that Eli Lilly has described Catalent as an "integral" player in its manufacturing of diabetes and obesity drugs.
"I am concerned that Novo Nordisk's merger with Catalent will give Novo Nordisk unprecedented visibility into and control over its competitor's production capacity, costs, and business practices, and the ability to preference its own products and obstruct its competitors' use of Catalent to produce" the drugs, she wrote. The drugs belong to a class of medicines known as GLP-1s.

'Warren urges FTC to probe deal that would give Novo Nordisk control of some Catalent plants; At issue is whether the deal would give Novo an unfair advantage in the market for obesity, diabetes drugs' - STAT News

Baird analyst Eric Coldwell downgrades Catalent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>) from Outperform to Neutral and maintains the price target from $63.5 to $63.5.

Downgrades

Price Target

Analyst Ratings

Baird Downgrades Catalent to Neutral, Maintains Price Target to $63.5

William Blair analyst Max Smock reiterates Catalent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>) with a Market Perform.

Reiteration

William Blair Reiterates Market Perform on Catalent

Earnings

Catalent Q4 2024 Adj. EPS $0.65 Beats $0.47 Estimate, Sales $1.301B Beat $1.224B Estimate

Lilly Executive Says Concord Manufacturing Site On Track To Start Production By End Of 2024; Recently Launched Mounjaro In Spain With KwikPen Presentation; Concerns Remain About Novo Nordisk-Catalent Acquisition

Guidance

Novo Nordisk CFO Said In Active Dialogue With Antitrust Regulators Over Catalent Deal, Still Expects It To Close Toward End Of Year -Conf Call

Catalent, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ctlt#NYSE">CTLT</a>) announced that it has completed the expansion of its clinical supply facility in Schorndorf, Germany. The Schorndorf site, Catalent&#39;s flagship European facility, provides comprehensive clinical supply services, including packaging, storage and distribution.
The latest expansion of the clinical supply facility is expected to solidify Catalent&#39;s foothold in the growing clinical trials space and expand its Clinical Development &amp; Supply network worldwide.
<h3>Significance of the Latest Expansion</h3>
The expansion increases the site&#39;s footprint, thereby adding storage and handling of clinical trial supply materials at controlled room temperatures. It also creates space in the original building to accommodate the installation of a new, fully automatic bottle-filling line, along with a dedicated area for Catalent&#39;s FastChain demand-led supply service. These added capabilities are expected to support a continued high level of service to Catalent&#39;s pharma and biotech customers and the patients they serve.
The company&#39;s FastChain service is a continuous Good Manufacturing Practices approach that decouples primary from secondary packaging to enable timely and cost-effective adaptation and regional supply of clinical materials on demand.
Per management, the Schorndorf site is crucial for the company&#39;s ability to meet customer demand for clinical packaging solutions, including temperature-controlled services. Management also believes that the additional capacity to the site for temperature-controlled storage and Catalent&#39;s FastChain service will likely meet the current and future needs of its customers.
<h3>Industry Prospects</h3>
Per a report by MarketsandMarkets, the global clinical trial supplies market is anticipated to reach $6.3 billion by 2028 from $3.9 billion in 2023 at a CAGR of 9.9%. Factors like the rising research and development expenditure in pharmaceutical and biopharmaceutical companies and the increasing number of clinical trials worldwide are likely to drive the market.
Given the market potential, the latest site expansion will likely provide a significant impetus to Catalent in the clinical trials space in the European region.
<h3>Notable Developments</h3>
In May, Catalent announced that its stockholders had approved the pending transaction under which Novo Holdings A/S (Novo Holdings) will acquire all outstanding shares of the company. The acquisition of the company by Novo Holdings was initially announced in February.
The same month, Catalent reported its third-quarter fiscal 2024 results, wherein it recorded a year-over-year improvement in its overall top-line and bottom-line results. The company also saw a revenue uptick in the Pharma and Consumer Health segment during the reported quarter. A continued momentum in both the Biologics and PCH segments, which drove an increase in consolidated sequential revenues and adjusted EBITDA margin for the second consecutive quarter, was also witnessed.
<h3>Price Performance</h3>
Shares of Catalent have gained 24.8% in the past year against the industry&#39;s 2.2% decline. The S&amp;P 500 has witnessed 23.8% growth in the said time frame.
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<h3>Zacks Rank &amp; Stocks to Consider</h3>
Currently, Catalent carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the broader medical space are Globus Medical, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gmed#NYSE">GMED</a>), Stryker Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/syk#NYSE">SYK</a>) and Elevance Health, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/elv#NYSE">ELV</a>).
Globus Medical, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 12.7%. GMED&#39;s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 10.8%.
Globus Medical&#39;s shares have gained 17.3% against the industry&#39;s 1.3% decline in the past year.
Stryker, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 10.6%. SYK&#39;s earnings surpassed estimates in each of the trailing four quarters, with the average being 4.9%.
Stryker has gained 11.3% against the industry&#39;s 2.1% decline in the past year.
Elevance Health, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.2%. ELV&#39;s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 2.8%.
Elevance Health&#39;s shares have rallied 25.1% compared with the industry&#39;s 5.4% rise in the past year.
<a href="https://www.zacks.com/stock/news/2302860/catalent-ctlt-expands-its-facility-capabilities-in-germany?cid=CS-BENZ-FT-analyst_blog|company_news_medical_sector-2302860">To read this article on Zacks.com click here.</a>

Earnings Beats

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

GMED

Catalent Expands Its Facility Capabilities in Germany

The expansion increases the site&#39;s footprint by 32,000 square feet (3,000 square meters), adding storage and handling of clinical trial supply materials at controlled room temperatures between 15 and 25 degrees Celsius. It also creates space in the original building to accommodate the installation of a new, fully automatic bottle filling line, as well as a dedicated area for Catalent&#39;s FastChain&reg;&nbsp;demand-led supply service. These added capabilities will support a continued high level of service to Catalent&#39;s pharma and biotech customers and the patients they serve.

Catalent Completes $25M Upgrade To Schorndorf Site, Featuring Expanded Storage And New FastChain Area

RBC Capital analyst Sean Dodge reiterates Catalent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>) with a Sector Perform and maintains $63.5 price target.

RBC Capital Reiterates Sector Perform on Catalent, Maintains $63.5 Price Target

Barclays analyst Luke Sergott maintains Catalent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>) with a Equal-Weight and raises the price target from $47 to $63.

Barclays Maintains Equal-Weight on Catalent, Raises Price Target to $63

Shares of Catalent Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>), which manufactures Elevidys, are trading higher with a strong session volume of 3.6 million compared to an average volume of 1.6 million.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/02/36986742/catalents-bloomington-plant-making-novo-nordisks-obesity-drug-faces-fda-scrutiny-regarding-drug-manu" rel="noreferrer noopener">Catalent&#8217;s Bloomington Plant Making Novo Nordisk&#8217;s Obesity Drug Faces FDA Scrutiny Regarding Drug Manufacturing Concerns</a>.
William Blair notes that Sarepta Therapeutics Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) Elevidys, supported by its <a target="_blank" href="https://www.benzinga.com/general/biotech/24/06/39430498/fda-approves-expanded-use-for-sareptas-rare-muscular-dystrophy-gene-therapy" rel="noreferrer noopener">expanded label</a>, is expected to generate approximately $700 million annually in revenue for fiscal years 2025 and 2026, representing a substantial increase from the approximately $425 million generated in fiscal year 2023.
In October 2023, William Blair wrote that in fiscal year 2024, Catalent anticipates 30% Y/Y growth in non-COVID biologics revenue, reaching approximately $1.35 billion to $1.80 billion.
This growth is primarily fueled by a 60%-plus expansion attributed to Sarepta, translating into an estimated total revenue of nearly $700 million <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/10/35521160/whats-going-on-with-biotech-contract-service-firm-catalent-stock-today" rel="noreferrer noopener">from the collaboration</a>.
Despite this, questions remain about Catalent&#8217;s manufacturing capacity and the future role of Thermo Fisher Scientific Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) as a secondary manufacturer.
William Blair analyst writes &#8220;Regardless, while we do not believe Elevidys&#8217;s label expansion materially changes the likelihood that Novo Holdings&#8217; proposed acquisition of Catalent will be completed, it does limit the downside for investors if the deal falls through.&#8221;
Related: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/02/36931734/ozempic-maker-strikes-11b-deal-with-catalent-as-it-rushes-to-meet-massive-weight-loss-drug-demand" rel="noreferrer noopener">Ozempic Maker Strikes $11B Deal With Catalent As It Rushes To Meet Massive Weight-Loss Drug Demand</a>.
With a 12% spread and six months until the expected transaction close, the analyst sees an improved risk/reward profile for Catalent but maintains a <a target="_blank" href="https://www.benzinga.com/quote/CTLT/analyst-ratings" rel="noreferrer noopener">Market Perform rating</a>.
Price Action: CTLT shares are up 3.27% at $56.62 at last check Friday.
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Analyst Color

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SRPT

Sarepta's Expanded Approval Unlikely To Influence Novo Holdings' Acquisition of Catalent, But Provides Investor Protection Amid Uncertainty

Catalent Stockholders Approve Acquisition By Novo Holdings For $63.50 Per Share In Cash

Hedge funds made strategic adjustments to their portfolios throughout <a href="https://www.benzinga.com/general/hedge-funds">the first quarter of 2024</a>.
Firms are looking for high-return opportunities beyond the <a href="https://www.benzinga.com/topic/magnificent-seven">mega-cap tech giants</a> preferring to focus on cyclical sectors and artificial intelligence (AI)-related infrastructure stocks.
Except for Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), positions in several &#8216;Magnificent Seven&#8217; stocks — Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Microsoft Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) — were trimmed from hedge funds.
Still, the strong performance of the so-called &#8216;Magnificent 7&#8242; tech stocks maintained their weight at 13% of hedge fund long portfolios, according to the latest Goldman Sachs&#8217; Hedge Fund Monitor report.
<h3 class="wp-block-heading">Cyclical Sectors</h3>
In parallel, hedge funds expanded their investments in cyclical sectors, elevating the exposure to Financials.
Information Technology remained the largest net sector weight at the start of Q2 2024. It accounts for 18% of total net exposure. However, it also registered the largest underweight relative to the Russell 3000, with a -913 basis points (bp) difference. Health Care was the largest overweight sector, with a +375 bp difference.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>Hedge Funds&#8217; Net Weight</th>
<th>Russell 3000 Weight</th>
<th>Hedge Fund Net Tilt</th>
</tr>
</thead>
<tbody>
<tr>
<td>Health Care</td>
<td>15.8%</td>
<td>12.0%</td>
<td>+375 bp</td>
</tr>
<tr>
<td>Communication Services</td>
<td>11.0%</td>
<td>8.8%</td>
<td>+226 bp</td>
</tr>
<tr>
<td>Industrials</td>
<td>12.1%</td>
<td>9.9%</td>
<td>+222 bp</td>
</tr>
<tr>
<td>Materials</td>
<td>4.8%</td>
<td>2.7%</td>
<td>+205 bp</td>
</tr>
<tr>
<td>Energy</td>
<td>4.9%</td>
<td>3.8%</td>
<td>+109 bp</td>
</tr>
<tr>
<td>Consumer Discretionary</td>
<td>11.9%</td>
<td>10.8%</td>
<td>+107 bp</td>
</tr>
<tr>
<td>Utilities</td>
<td>2.8%</td>
<td>2.1%</td>
<td>+76 bp</td>
</tr>
<tr>
<td>Financials</td>
<td>13.3%</td>
<td>14.2%</td>
<td>-98 bp</td>
</tr>
<tr>
<td>Real Estate</td>
<td>1.5%</td>
<td>2.6%</td>
<td>-114 bp</td>
</tr>
<tr>
<td>Consumer Staples</td>
<td>4.0%</td>
<td>6.0%</td>
<td>-196 bp</td>
</tr>
<tr>
<td>Information Technology</td>
<td>17.9%</td>
<td>27.0%</td>
<td>-913 bp</td>
</tr>
<tr>
<td>Total</td>
<td>100.0%</td>
<td>100.0%</td>
<td>0 bp</td>
</tr>
</tbody>
</table>
</figure>
There was also a notable rotation towards utilities, reflecting a <a href="https://www.benzinga.com/topic/artificial-intelligence">broader AI investment focus</a>. 
In particular, hedge funds have shown a keen interest in Phase 2 Infrastructure stocks within the AI sector. Among the companies that have seen the largest increase in hedge fund popularity, are:
<ul>
<li>Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>)</li>
<li>TD Synnex Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>)</li>
<li>AES Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AES#NYSE">AES</a>)</li>
<li>Littelfuse Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LFUS#NASDAQ">LFUS</a>) </li>
</ul>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38927907/ai-driven-rally-set-to-expand-to-power-commodities-utilities-its-not-just-about-nvi">AI-Driven Rally Set To Expand To Power, Commodities, Utilities: &#8216;It&#8217;s Not Just About Nvidia Anymore&#8217;</a>
<h3 class="wp-block-heading">Most Popular Hedge Funds&#8217; Increase In AI Universe During Q1 2024</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Subsector</td>
</tr>
<tr>
<td>Marvell Technology, Inc.</td>
<td>Semiconductors</td>
</tr>
<tr>
<td>TD SYNNEX Corporation</td>
<td>Technology Distributors</td>
</tr>
<tr>
<td>Apple Inc.</td>
<td>Technology Hardware Storage &amp; Peripherals</td>
</tr>
<tr>
<td>AES Corporation</td>
<td>Independent Power Producers &amp; Energy Traders</td>
</tr>
<tr>
<td>Littelfuse, Inc.</td>
<td>Electronic Components</td>
</tr>
<tr>
<td>Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>)</td>
<td>Application Software</td>
</tr>
<tr>
<td>Freeport-McMoRan, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) </td>
<td>Copper</td>
</tr>
<tr>
<td>Walgreens Boots Alliance, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NYSE">WBA</a>)</td>
<td>Drug Retail</td>
</tr>
<tr>
<td>Nextracker Inc. Class A (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXT#NASDAQ">NXT</a>)</td>
<td>Electrical Components &amp; Equipment</td>
</tr>
<tr>
<td>First American Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FAF#NYSE">FAF</a>)</td>
<td>Property &amp; Casualty Insurance</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Most Concentrated Hedge Fund Holdings In The S&amp;P 500</h3>
The Goldman Sachs&#8217; Hedge Fund Monitor asserts that portfolio concentration among hedge funds remains particularly elevated. 
The typical hedge fund maintains 70% of its long portfolio in the top 10 positions. This trend remained extremely elevated in Q1 2024.
The following table details the top 20 most concentrated hedge fund holdings within the S&amp;P 500, highlighting where hedge funds are investing their capital.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Sector</th>
<th>Sub-sector</th>
<th>% of Equity Cap Owned by Hedge Funds</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bath &amp; Body Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>)</td>
<td>Consumer Discretionary</td>
<td>Other Specialty Retail</td>
<td>27%</td>
</tr>
<tr>
<td>Hess Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>)</td>
<td>Energy</td>
<td>Oil &amp; Gas Exploration &amp; Production</td>
<td>16%</td>
</tr>
<tr>
<td>Ralph Lauren Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RL#NYSE">RL</a>)</td>
<td>Consumer Discretionary</td>
<td>Apparel Accessories &amp; Luxury Goods</td>
<td>15%</td>
</tr>
<tr>
<td>Expedia Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NYSE">EXPE</a>)</td>
<td>Consumer Discretionary</td>
<td>Hotels, Resorts &amp; Cruise Lines</td>
<td>14%</td>
</tr>
<tr>
<td>Universal Health Svc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>)</td>
<td>Health Care</td>
<td>Health Care Facilities</td>
<td>14%</td>
</tr>
<tr>
<td>Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)</td>
<td>Information Technology</td>
<td>Technology Hardware, Storage &amp; Peripherals</td>
<td>13%</td>
</tr>
<tr>
<td>NRG Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</td>
<td>Utilities</td>
<td>Electric Utilities</td>
<td>13%</td>
</tr>
<tr>
<td>Invesco Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>)</td>
<td>Financials</td>
<td>Asset Management &amp; Custody Banks</td>
<td>13%</td>
</tr>
<tr>
<td>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</td>
<td>Utilities</td>
<td>Independent Power Producers &amp; Energy Traders</td>
<td>13%</td>
</tr>
<tr>
<td>Caesars Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NYSE">CZR</a>)</td>
<td>Consumer Discretionary</td>
<td>Casinos &amp; Gaming</td>
<td>12%</td>
</tr>
<tr>
<td>Evergy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>)</td>
<td>Utilities</td>
<td>Electric Utilities</td>
<td>12%</td>
</tr>
<tr>
<td>Catalent Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>)</td>
<td>Health Care</td>
<td>Pharmaceuticals</td>
<td>11%</td>
</tr>
<tr>
<td>Juniper Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>)</td>
<td>Information Technology</td>
<td>Communications Equipment</td>
<td>11%</td>
</tr>
<tr>
<td>Dollar Tree Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NYSE">DLTR</a>)</td>
<td>Consumer Staples</td>
<td>Consumer Staples Merchandise Retail</td>
<td>11%</td>
</tr>
<tr>
<td>NiSource Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NI#NYSE">NI</a>)</td>
<td>Utilities</td>
<td>Multi-Utilities</td>
<td>10%</td>
</tr>
<tr>
<td>Incyte Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>)</td>
<td>Health Care</td>
<td>Biotechnology</td>
<td>10%</td>
</tr>
<tr>
<td>Lamb Weston Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>)</td>
<td>Consumer Staples</td>
<td>Packaged Foods &amp; Meats</td>
<td>10%</td>
</tr>
<tr>
<td>Qorvo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>)</td>
<td>Information Technology</td>
<td>Semiconductors</td>
<td>10%</td>
</tr>
<tr>
<td>Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>)</td>
<td>Financials</td>
<td>Consumer Finance</td>
<td>10%</td>
</tr>
<tr>
<td>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>)</td>
<td>Health Care</td>
<td>Managed Health Care</td>
<td>10%</td>
</tr>
</tbody>
</table>
</figure>
Now Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38991084/inflation-stresses-retail-traders-as-fed-cuts-look-unlikely-crypto-doubts-increase-survey">Inflation Stresses Retail Traders As Fed Cuts Look Unlikely, Crypto Doubts Increase: Survey</a>
Image: Shutterstock

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Hedge Funds Tweak Portfolios In Q1: Marvell, TD Synnex, AES Get More Love As Focus Shifts To AI

Catalent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>) reported quarterly losses of $(0.06) per share which missed the analyst consensus estimate of $0.21 by 128.57 percent. This is a 33.33 percent increase over losses of $(0.09) per share from the same period last year. The company reported quarterly sales of $1.07 billion which missed the analyst consensus estimate of $1.12 billion by 4.11 percent. This is a 3.57 percent increase over sales of $1.04 billion the same period last year.

Earnings Misses

Catalent Q3 EPS $(0.06) Misses $0.21 Estimate, Sales $1.07B Miss $1.12B Estimate

Siren Biotechnology And Catalent Partner To Manufacture AAV Gene Therapies For Cancer

Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) is witnessing a surge in the number of patients starting on its weight-loss drug, Wegovy, in the U.S. This increase comes despite supply constraints and competition from Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>).
What Happened: The Danish pharmaceutical company is now shipping more introductory doses of Wegovy to the U.S., as it grapples with supply constraints and competition from Eli Lilly, <a href="https://www.bloomberg.com/news/articles/2024-05-02/novo-quadruples-the-number-of-patients-starting-on-wegovy-in-us?utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;utm_medium=social&amp;cmpid=socialflow">reported</a> Bloomberg on Friday.
Despite the challenges, Wegovy sales more than doubled to 9.38 billion kroner ($1.35 billion) in the first quarter. This figure, however, fell short of analysts&#8217; estimates due to pricing pressure. The company&#8217;s stock declined, despite a surge in quarterly profit and an increased forecast.
Novo Nordisk is doubling its investment in manufacturing capacity this year to about $6.4 billion. This figure does not include the planned $11 billion acquisition of three factories originally owned by contract manufacturer Catalent Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>).
See Also: <a href="https://www.benzinga.com/partner/health-care/24/04/38517052/3-trends-in-healthcare-guided-by-ai-and-the-companies-behind-the-innovation?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">3 Trends In Healthcare Guided By AI And The Companies Behind The Innovation</a>
The obesity market is a key battleground for Novo Nordisk and Eli Lilly. The former&#8217;s strategy to ramp up production is crucial as it competes with Lilly for dominance in this market. The demand for Wegovy and its sister medicine for diabetes, Ozempic, has led the company to increase its forecast, with sales potentially surging by as much as 27% and operating profit by as much as 30% this year.
However, the cost of these drugs has been a point of contention in the U.S., with prices coming down due to volume, breadth of coverage, and competition. This has led to an investigation by the Senate Committee on Health, Education, Labor, and Pensions. Despite this, about 80% of Wegovy patients in the U.S. with commercial coverage for the drug are paying $25 or less per month.
Why It Matters: The increase in patients starting on Wegovy comes at a time when Novo Nordisk is facing challenges on multiple fronts. The company is currently <a href="https://www.benzinga.com/general/biotech/24/05/38554472/setback-for-novo-nordisk-denmark-shifts-prescription-guidelines-favoring-cost-effective-alternati">facing a setback in Denmark</a>, where the healthcare authority has shifted prescription guidelines to favor less expensive drugs for type 2 diabetes patients, impacting the prescription of costlier GLP-1 drugs such as Ozempic.
Moreover, the <a href="https://www.benzinga.com/general/biotech/24/05/38564498/federal-trade-commission-targets-junk-patent-listings-for-diabetes-weight-loss-asthma-drugs-from-">Federal Trade Commission is challenging</a> pharmaceutical patent listings, including those for diabetes and weight-loss drugs like Novo Nordisk&#8217;s Ozempic and Victoza. This initiative is aimed at facilitating the availability of more affordable alternatives to brand-name drugs.
Despite these challenges, Novo Nordisk has been <a href="https://www.benzinga.com/markets/asia/24/03/37527875/ozempic-maker-novo-nordisk-to-introduce-obesity-drug-wegovy-in-japan-acknowledging-countrys-rising-w">expanding its market reach</a> by introducing Wegovy in Japan, where obesity rates have been rising. The drug&#8217;s introduction in Japan marks the first effective obesity medication to be made available in the country in nearly three decades.
Read Next: <a href="https://www.benzinga.com/partner/health-care/24/04/38428956/ai-in-healthcare-is-expected-to-reach-148-billion-by-2029-heres-how-brand-engagement-network-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AI In Healthcare Is Expected To Reach $148 Billion By 2029</a>
Image Via Unsplash
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Global

Demand Soars For Novo Nordisk's Weight-Loss Drug Wegovy Despite Supply Constraints And Eli Lilly Competition

BMO Capital Markets&nbsp;initiated coverage on Danish drug maker&nbsp;Novo Nordisk A/S&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) after the company garnered interest as it hit the holy grail with the next generation of famed weight loss and diabetes drugs.&nbsp;
The analyst writes that an in-depth analysis of the growing obesity and adjacent metabolic disease market suggests&nbsp;Eli Lilly And Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and Novo Nordisk will remain the two entrenched players in this duopoly.&nbsp;
While other players are just entering the obesity landscape, Novo has been established as a leader since Wegovy&#8217;s approval in 2021 (and Saxenda&#8217;s approval in 2014).&nbsp;
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38222006/novo-nordiskeli-lillys-weight-loss-drugs-does-not-cause-suicidal-behaviors-after-fda-european-med" rel="noreferrer noopener">Novo Nordisk/Eli Lilly&#8217;s Weight Loss Drugs Does Not Cause Suicidal Behaviors &#8211; After FDA, European Medicines Agency Says</a>.
Novo Nordisk&#8217;s decision to double down in obesity assets by developing therapeutics like CagriSema, GLP-1/GIPR agonists, and the new INV-202 has strengthened its pipeline in a market expected to grow to over $130 billion.
In the near term, BMO looks to Phase 3 REDEFINE trial results for CagriSema in obesity and Phase 3 STRIDE and SOUL results for semaglutide in Peripheral arterial disease (PAD) and type-2 diabetes (T2D) with chronic kidney disease (CKD)/ cardiovascular disease (CVD), respectively, to push shares higher.&nbsp;
Trials in secondary indications of obesity/T2D are expected to expand revenue and provide alternate paths to Medicare access.&nbsp;
BMO is initiating with an Outperform rating and a&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/NVO/analyst-ratings" rel="noreferrer noopener">price target of $163</a>.
Novo&#8217;s growing strength is fueled by various factors, including robust manufacturing, clinical and patient data, diverse pipelines, and enhanced access support, reinforcing the optimistic outlook on Novo Nordisk.&nbsp;
The company, along with Eli Lilly, dominates the market for incretin therapies, with demand rising steadily, especially after the approval of Wegovy.&nbsp;
Capacity limitations in the market, expected to persist until at least 2026, benefit both Novo and Lilly due to their substantial manufacturing capabilities, further bolstered by&nbsp;Catalent Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>).&nbsp;
These constraints fortify Novo Nordisk&#8217;s competitive position, potentially impeding competitors even if they offer superior efficacy or tolerability.
Price Action: NVO shares are down 0.36% at $124.95 on the last check Friday.
Image Via Shutterstock

Novo Nordisk's Dominance In Obesity & Diabetes Drug Market Backed by Strong Pipeline: Analyst Gives Outperform Rating

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Robert W. Baird analyst Eric Coldwell downgraded the rating on Catalent (CTLT – Research Report) to a Hold today, setting a price target of $63.50....

Hold Rating on Catalent Amid Deal Uncertainties and Conservative Financial Outlook

Catalent cut to neutral at Baird as analyst unable to find valuation in a deal break

A flat week that was anticipated, one notable event was China's stimulus package announcement, which sent China-related stocks soaring. Most of these stocks surged without prior consolidations/warning signs. This week, we anticipate some retracement.

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Is Hims & Hers rally at risk as GLP-1 shortages ease?

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Sen. Elizabeth Warrens wants FTC to scrutinize Novo Nordisk deal for Catalent

Sen. Elizabeth Warren wants FTC to scrutinize Novo Nordisk deal for Catalent

Catalent to sell Somerset oral solids facility

Consumer, labor groups urge FTC to block Catalent sale to Novo Nordisk - report

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SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates CVLY, ANSS, CTLT

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates CTLT, HRT, SWAV, MODN

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Catalent, Inc. Reports Third Quarter Fiscal 2024 Results

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Catalent Stockholders Approve Transaction with Novo Holdings

Ardena appoints Jeremie Trochu as Chief Executive Officer

Catalent Completes $25 Million Expansion of its Clinical Supply Facility in Schorndorf, Germany

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