Avantor (NYSE:AVTR) Trading Down 3.7% After Analyst Downgrade

Avantor, Inc. (NYSE:AVTR - Get Free Report) shares fell 3.7% during mid-day trading on Monday after Morgan Stanley downgraded the stock from an overweight rating to an equal weight rating. The stock traded as low as $12.72 and last traded at $12.45. 2,368,168 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 7,104,598 shares. The stock had previously closed at $12.93.

Several other research analysts have also weighed in on the company. Royal Bank of Canada lowered their price target on Avantor from $24.00 to $20.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Cowen cut shares of Avantor from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Raymond James restated an "outperform" rating and set a $24.00 price objective (down from $26.00) on shares of Avantor in a research note on Monday, February 10th. Citigroup cut their target price on shares of Avantor from $22.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Finally, TD Cowen downgraded Avantor from a "buy" rating to a "hold" rating and set a $15.50 price target on the stock. in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Avantor currently has an average rating of "Hold" and a consensus price target of $18.88.

Insiders Place Their Bets

In other Avantor news, CAO Steven W. Eck sold 4,907 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $17.53, for a total transaction of $86,019.71. Following the transaction, the chief accounting officer now owns 40,604 shares in the company, valued at $711,788.12. This represents a 10.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Bramwell sold 3,758 shares of Avantor stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $17.53, for a total transaction of $65,877.74. Following the completion of the sale, the executive vice president now owns 87,379 shares of the company's stock, valued at approximately $1,531,753.87. The trade was a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Avantor

A number of large investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its position in shares of Avantor by 99.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,253 shares of the company's stock valued at $26,000 after acquiring an additional 625 shares during the period. Smartleaf Asset Management LLC raised its stake in Avantor by 106.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,611 shares of the company's stock valued at $34,000 after purchasing an additional 830 shares in the last quarter. Wealthquest Corp bought a new stake in Avantor during the first quarter worth about $34,000. Global Retirement Partners LLC grew its stake in Avantor by 76.7% during the fourth quarter. Global Retirement Partners LLC now owns 2,459 shares of the company's stock worth $52,000 after buying an additional 1,067 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Avantor by 121.6% during the first quarter. GAMMA Investing LLC now owns 3,747 shares of the company's stock worth $61,000 after buying an additional 2,056 shares in the last quarter. Institutional investors and hedge funds own 95.08% of the company's stock.

Avantor Trading Down 0.7 %

The firm's fifty day simple moving average is $15.54 and its 200 day simple moving average is $19.38. The stock has a market capitalization of $8.77 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.70 and a current ratio of 1.07.

Avantor (NYSE:AVTR - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.23. Avantor had a net margin of 10.49% and a return on equity of 12.17%. The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same period last year, the firm posted $0.22 earnings per share. The firm's quarterly revenue was down 5.9% compared to the same quarter last year. As a group, equities research analysts forecast that Avantor, Inc. will post 1.06 EPS for the current fiscal year.

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.