Avantor, Inc. (NYSE:AVTR) Shares Sold by Handelsbanken Fonder AB

Posted by Defense World Staff on May 5th, 2023

Handelsbanken Fonder AB reduced its stake in Avantor, Inc. (NYSE:AVTR – Get Rating) by 79.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 48,873 shares of the company’s stock after selling 184,779 shares during the quarter. Handelsbanken Fonder AB’s holdings in Avantor were worth $1,031,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. lifted its holdings in Avantor by 5.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 254,000 shares of the company’s stock worth $5,345,000 after buying an additional 14,229 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Avantor by 442.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 84,055 shares of the company’s stock valued at $1,647,000 after purchasing an additional 68,559 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Avantor in the 3rd quarter valued at $599,000. Great West Life Assurance Co. Can acquired a new stake in shares of Avantor in the 3rd quarter valued at $10,225,000. Finally, Maven Securities LTD acquired a new stake in shares of Avantor in the 3rd quarter valued at $449,000. 88.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 value of $74,610.72. Following the completion of the sale, the executive vice president now owns 94,370 shares in the company, valued at $2,287,528.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other 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 value of $74,610.72. Following the completion of the sale, the executive vice president now owns 94,370 shares in the company, valued at $2,287,528.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gerard Brophy sold 3,914 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $25.00, for a total value of $97,850.00. Following the completion of the sale, the executive vice president now owns 108,715 shares of the company’s stock, valued at approximately $2,717,875. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,490 shares of company stock worth $204,188. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AVTR shares. Robert W. Baird reduced their price objective on shares of Avantor from $27.00 to $24.00 in a report on Monday. Citigroup increased their target price on shares of Avantor from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, February 6th. Wells Fargo & Company increased their target price on shares of Avantor from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, February 8th. Barclays dropped their target price on shares of Avantor from $25.00 to $22.00 in a research report on Monday. Finally, Bank of America lowered their price objective on shares of Avantor from $30.00 to $27.00 in a research report on Sunday, April 30th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Avantor currently has a consensus rating of “Moderate Buy” and an average price target of $28.75.

Avantor Price Performance

Shares of AVTR opened at $20.23 on Friday. The company has a market cap of $13.64 billion, a P/E ratio of 21.99 and a beta of 1.34. The stock has a fifty day moving average price of $21.34 and a 200 day moving average price of $21.62. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.60 and a quick ratio of 1.05. Avantor, Inc. has a 12 month low of $17.91 and a 12 month high of $33.48.

Avantor (NYSE:AVTR – Get Rating) last announced its quarterly earnings results on Friday, April 28th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Avantor had a return on equity of 22.06% and a net margin of 9.14%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. On average, research analysts forecast that Avantor, Inc. will post 1.38 earnings per share for the current year.

Avantor Company Profile

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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.