abrdn plc Buys 4,529 Shares of Avantor, Inc. (NYSE:AVTR)

Posted by on May 25th, 2023

abrdn plc grew its stake in shares of Avantor, Inc. (NYSE:AVTR – Get Rating) by 8.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 59,114 shares of the company’s stock after purchasing an additional 4,529 shares during the period. abrdn plc’s holdings in Avantor were worth $1,247,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Gladius Capital Management LP purchased a new position in Avantor in the fourth quarter valued at approximately $36,000. Nisa Investment Advisors LLC lifted its stake in Avantor by 794.5% in the third quarter. Nisa Investment Advisors LLC now owns 2,120 shares of the company’s stock valued at $42,000 after purchasing an additional 1,883 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in Avantor in the fourth quarter valued at approximately $58,000. EverSource Wealth Advisors LLC lifted its stake in Avantor by 87.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,789 shares of the company’s stock valued at $59,000 after purchasing an additional 1,302 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Avantor by 52.4% in the third quarter. Signaturefd LLC now owns 4,691 shares of the company’s stock valued at $92,000 after purchasing an additional 1,612 shares during the last quarter. 88.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AVTR has been the topic of several recent research reports. Barclays dropped their target price on Avantor from $25.00 to $22.00 in a research report on Monday, May 1st. Bank of America decreased their price target on shares of Avantor from $30.00 to $27.00 in a report on Sunday, April 30th. 888 reaffirmed a “maintains” rating on shares of Avantor in a report on Monday, May 1st. Wells Fargo & Company upped their price target on shares of Avantor from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Finally, Citigroup upped their price target on shares of Avantor from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, February 6th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.75.

Insider Transactions at Avantor

In related news, EVP Christophe Couturier sold 1,498 shares of the business’s stock in a transaction dated Tuesday, April 11th. The shares were sold at an average price of $21.18, for a total transaction of $31,727.64. Following the transaction, the executive vice president now directly owns 98,650 shares in the company, valued at $2,089,407. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Avantor news, EVP Christophe Couturier sold 1,498 shares of the business’s stock in a transaction dated Tuesday, April 11th. The shares were sold at an average price of $21.18, for a total value of $31,727.64. Following the transaction, the executive vice president now directly owns 98,650 shares in the company, valued at approximately $2,089,407. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gerard Brophy sold 3,914 shares of the business’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $25.00, for a total transaction of $97,850.00. Following the completion of the transaction, the executive vice president now owns 108,715 shares in the company, valued at $2,717,875. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Avantor Price Performance

NYSE AVTR opened at $20.41 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.03 and a current ratio of 1.57. The firm’s 50 day moving average price is $20.56 and its 200-day moving average price is $21.68. Avantor, Inc. has a 52-week low of $17.91 and a 52-week high of $33.48. The company has a market cap of $13.78 billion, a PE ratio of 22.18 and a beta of 1.33.

Avantor (NYSE:AVTR – Get Rating) last released its quarterly earnings data on Friday, April 28th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Avantor had a net margin of 8.41% and a return on equity of 18.81%. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. Sell-side analysts forecast that Avantor, Inc. will post 1.29 EPS for the current fiscal year.

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.

Further Reading

Institutional Ownership by Quarter for Avantor (NYSE:AVTR)

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