DnB Asset Management AS boosted its holdings in Avantor, Inc. (NYSE:AVTR – Free Report) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,595 shares of the company’s stock after acquiring an additional 1,210 shares during the quarter. DnB Asset Management AS’s holdings in Avantor were worth $2,275,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in AVTR. Raymond James Financial Services Advisors Inc. increased its position in shares of Avantor by 43.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 27,092 shares of the company’s stock valued at $916,000 after purchasing an additional 8,211 shares during the period. MetLife Investment Management LLC acquired a new position in shares of Avantor during the 1st quarter valued at $1,318,000. Panagora Asset Management Inc. increased its position in shares of Avantor by 67.9% during the 1st quarter. Panagora Asset Management Inc. now owns 19,061 shares of the company’s stock valued at $645,000 after purchasing an additional 7,710 shares during the period. Yousif Capital Management LLC increased its position in shares of Avantor by 7.9% during the 1st quarter. Yousif Capital Management LLC now owns 8,870 shares of the company’s stock valued at $300,000 after purchasing an additional 650 shares during the period. Finally, Raymond James Trust N.A. increased its position in shares of Avantor by 28.8% during the 1st quarter. Raymond James Trust N.A. now owns 7,342 shares of the company’s stock valued at $248,000 after purchasing an additional 1,643 shares during the period. 89.94% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, EVP Christophe Couturier sold 1,498 shares of the stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $21.18, for a total transaction of $31,727.64. Following the completion of the sale, the executive vice president now directly owns 98,650 shares in the company, valued at $2,089,407. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.
Avantor Price Performance
Avantor (NYSE:AVTR – Free Report) last announced its quarterly earnings data on Friday, April 28th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Avantor had a return on equity of 18.81% and a net margin of 8.41%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company earned $0.38 earnings per share. Avantor’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that Avantor, Inc. will post 1.29 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on AVTR shares. Bank of America reduced their price objective on Avantor from $30.00 to $27.00 in a research note on Sunday, April 30th. 888 reissued a “maintains” rating on shares of Avantor in a research note on Monday, May 1st. Royal Bank of Canada started coverage on Avantor in a research note on Wednesday, June 21st. They set an “outperform” rating and a $27.00 price objective for the company. Robert W. Baird reduced their price objective on Avantor from $27.00 to $24.00 in a research note on Monday, May 1st. Finally, Barclays reduced their price objective on Avantor from $25.00 to $22.00 in a research note on Monday, May 1st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Avantor presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.65.
About Avantor
Avantor, Inc engages in the provision of mission-critical products and services to customers in biopharma, healthcare, education and government, advanced technologies, and applied materials industries in the Americas, Europe, Asia, the Middle East, and Africa. The company offers materials and consumables, such as purity chemicals and reagents, lab products and supplies, formulated silicone materials, customized excipients, customized single-use assemblies, process chromatography resins and columns, analytical sample prep kits, education and microbiology products, clinical trial kits, peristaltic pumps, and fluid handling tips.
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