Avantor (NYSE:AVTR) Given New $12.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley has reduced its price target for Avantor (NYSE:AVTR) from $15.00 to $12.00, maintaining an "equal weight" rating on the stock.
• Avantor reported a quarterly EPS of $0.24, missing the consensus estimate of $0.25, with revenue down 1.1% year-over-year.
• Insider trading activity includes Director Gregory L. Summe purchasing 30,000 shares at an average price of $12.50, increasing his ownership significantly.

Avantor (NYSE:AVTR - Get Free Report) had its price target cut by equities research analysts at Morgan Stanley from $15.00 to $12.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price objective would indicate a potential upside of 5.40% from the company's previous close.

A number of other research analysts have also recently weighed in on the company. Wells Fargo & Company reduced their target price on Avantor from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday. Evercore ISI reduced their price target on shares of Avantor from $18.00 to $16.00 and set an "outperform" rating on the stock in a research report on Monday. Jefferies Financial Group restated a "hold" rating on shares of Avantor in a report on Friday. Stifel Nicolaus downgraded Avantor from a "buy" rating to a "hold" rating and lowered their price target for the company from $26.00 to $14.00 in a report on Monday, April 28th. Finally, Cowen cut Avantor from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $15.79.

Avantor Trading Up 0.2%

AVTR traded up $0.03 during midday trading on Monday, hitting $11.39. The company's stock had a trading volume of 7,346,410 shares, compared to its average volume of 10,497,844. The firm has a market cap of $7.76 billion, a P/E ratio of 11.50, a PEG ratio of 1.21 and a beta of 0.96. Avantor has a 52-week low of $10.82 and a 52-week high of $27.83. The company has a current ratio of 0.98, a quick ratio of 0.67 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $13.37 and a two-hundred day moving average price of $15.39.

Avantor (NYSE:AVTR - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. Avantor had a return on equity of 11.39% and a net margin of 10.31%. The business's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. On average, research analysts anticipate that Avantor will post 1.06 earnings per share for the current year.

Insider Buying and Selling at Avantor

In related news, Director Gregory L. Summe purchased 30,000 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $12.50 per share, with a total value of $375,000.00. Following the completion of the acquisition, the director directly owned 100,000 shares of the company's stock, valued at approximately $1,250,000. The trade was a 42.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 75,000 shares of company stock worth $928,000 over the last three months. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AVTR. Rise Advisors LLC bought a new position in Avantor during the 1st quarter worth $25,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Avantor by 288.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,701 shares of the company's stock valued at $28,000 after acquiring an additional 1,263 shares during the period. Wealthquest Corp bought a new position in shares of Avantor during the first quarter worth about $34,000. FNY Investment Advisers LLC acquired a new stake in shares of Avantor in the 2nd quarter worth about $36,000. Finally, Spire Wealth Management bought a new stake in Avantor in the 2nd quarter valued at about $47,000. 95.08% of the stock is currently owned by institutional investors.

About Avantor

Avantor, Inc engages in the provision of mission-critical products and services to customers in the 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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