Advisor Group Holdings Inc. lifted its stake in Avantor Inc (NYSE:AVTR) by 70.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,357 shares of the company’s stock after purchasing an additional 3,029 shares during the period. Advisor Group Holdings Inc.’s holdings in Avantor were worth $125,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of AVTR. Nissay Asset Management Corp Japan ADV bought a new position in shares of Avantor during the 2nd quarter worth $771,000. Gulf International Bank UK Ltd bought a new stake in Avantor during the second quarter valued at about $1,834,000. Strs Ohio purchased a new position in Avantor in the second quarter valued at about $1,073,000. Legal & General Group Plc raised its holdings in Avantor by 17.0% in the first quarter. Legal & General Group Plc now owns 257,022 shares of the company’s stock worth $3,210,000 after purchasing an additional 37,304 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in shares of Avantor by 116.7% during the first quarter. Parametric Portfolio Associates LLC now owns 113,506 shares of the company’s stock valued at $1,418,000 after buying an additional 61,118 shares during the last quarter. 83.03% of the stock is currently owned by institutional investors.
Several research analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of Avantor from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on Avantor from $18.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Piper Sandler raised their price target on Avantor from $16.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Morgan Stanley started coverage on shares of Avantor in a research report on Monday, September 14th. They issued an “overweight” rating and a $24.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Avantor from a “hold” rating to a “sell” rating in a research report on Wednesday, September 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $21.97.
In other Avantor news, Director Jo Natauri sold 15,397,005 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $19.51, for a total transaction of $300,395,567.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder New Mountain Investments Iii, sold 25,575,472 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $19.51, for a total transaction of $498,977,458.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,168,804 shares of company stock worth $803,833,759. 1.90% of the stock is owned by company insiders.
Avantor stock traded up $0.18 during midday trading on Friday, hitting $24.48. 5,704,474 shares of the company were exchanged, compared to its average volume of 4,144,389. The business has a fifty day simple moving average of $22.19 and a two-hundred day simple moving average of $18.35. The firm has a market capitalization of $14.11 billion, a PE ratio of 106.43, a price-to-earnings-growth ratio of 1.53 and a beta of 1.97. Avantor Inc has a fifty-two week low of $6.66 and a fifty-two week high of $24.97.
Avantor (NYSE:AVTR) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 EPS. Equities research analysts expect that Avantor Inc will post 0.79 earnings per share for the current year.
Avantor, Inc is a provider of mission critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. It sells materials & consumables, equipment & instrumentation and services & specialty procurement. It operates in more than 30 countries and deliver an extensive portfolio of products and services.
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