Balyasny Asset Management LLC Raises Stock Holdings in Avantor, Inc. (NYSE:AVTR)

Posted by Defense World Staff on Mar 15th, 2023

Balyasny Asset Management LLC boosted its stake in Avantor, Inc. (NYSE:AVTR – Get Rating) by 92.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,645,410 shares of the company’s stock after buying an additional 792,615 shares during the period. Balyasny Asset Management LLC owned approximately 0.24% of Avantor worth $32,250,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVTR. Raymond James Financial Services Advisors Inc. raised its holdings in Avantor by 43.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 27,092 shares of the company’s stock valued at $916,000 after buying an additional 8,211 shares during the period. MetLife Investment Management LLC acquired a new position in shares of Avantor during the first quarter worth about $1,318,000. Panagora Asset Management Inc. grew its position in shares of Avantor by 67.9% during the first quarter. Panagora Asset Management Inc. now owns 19,061 shares of the company’s stock worth $645,000 after buying an additional 7,710 shares in the last quarter. Yousif Capital Management LLC grew its position in shares of Avantor by 7.9% during the first quarter. Yousif Capital Management LLC now owns 8,870 shares of the company’s stock worth $300,000 after buying an additional 650 shares in the last quarter. Finally, Raymond James Trust N.A. grew its position in shares of Avantor by 28.8% during the first quarter. Raymond James Trust N.A. now owns 7,342 shares of the company’s stock worth $248,000 after buying an additional 1,643 shares in the last quarter. 88.80% of the stock is currently owned by hedge funds and other institutional investors.

Avantor Price Performance

Avantor stock opened at $21.05 on Wednesday. Avantor, Inc. has a 12 month low of $17.91 and a 12 month high of $35.39. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.60 and a quick ratio of 1.05. The business has a 50 day simple moving average of $23.30 and a 200-day simple moving average of $22.04. The stock has a market capitalization of $14.20 billion, a PE ratio of 20.64 and a beta of 1.37.

Avantor (NYSE:AVTR – Get Rating) last released its quarterly earnings results on Friday, February 3rd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. Avantor had a return on equity of 22.06% and a net margin of 9.14%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. Equities analysts predict that Avantor, Inc. will post 1.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AVTR shares. Barclays boosted their price objective on Avantor from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on Avantor in a research note on Tuesday, December 13th. They set a “hold” rating and a $24.00 target price for the company. Citigroup boosted their target price on Avantor from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, February 6th. Wells Fargo & Company boosted their target price on Avantor from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Finally, Raymond James boosted their target price on Avantor from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, February 6th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.33.

Insider Buying and Selling

In related news, EVP Christophe Couturier sold 3,078 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $24.24, for a total transaction of $74,610.72. Following the transaction, the executive vice president now owns 94,370 shares of the company’s stock, valued at $2,287,528.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Avantor news, EVP Gerard Brophy sold 3,914 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $25.00, for a total value of $97,850.00. Following the sale, the executive vice president now owns 108,715 shares of the company’s stock, valued at $2,717,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christophe Couturier sold 3,078 shares of the company’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $24.24, for a total value of $74,610.72. Following the completion of the sale, the executive vice president now directly owns 94,370 shares in the company, valued at approximately $2,287,528.80. The disclosure for this sale can be found here. Insiders have sold 18,331 shares of company stock valued at $456,616 over the last quarter. Company insiders own 1.60% of the company’s stock.

About Avantor

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Avantor, Inc engages in providing mission critical products and services to customers in the biopharma, healthcare, education and government, and advanced technologies and applied materials industries. It sells materials, equipment, instrumentation, and offers specialty procurement. The firm operates through the following segments: the Americas, Europe, and AMEA.