Shares of healthcare products provider Catalent (NYSE:CTLT) are soaring higher today on a Bloomberg report that life sciences solutions provider Danaher (NYSE:DHR) is mulling acquiring the company.
Catalent produced vaccines during the COVID-19 pandemic for multiple names and according to Bloomberg, Danaher has pegged CTLT’s value at a premium compared to the current price level.
Additionally, CTLT is also slated to announce second-quarter numbers tomorrow before the market opens. Analysts expect the company to post an EPS of $0.69 for the period. In the year-ago quarter, CTLT had posted an EPS of $0.90 versus the Street’s estimated $0.83 mark.
Overall, Wall Street has a consensus price target of $70.40 on CTLT, implying a 25.6% potential upside in the stock. That’s on top of the 24% price gains CTLT has posted over the past month already.
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