Avantor (NYSE:AVTR) Shares Down 6% - Here's What Happened

Avantor, Inc. (NYSE:AVTR - Get Free Report) shares dropped 6% during trading on Monday . The company traded as low as $12.44 and last traded at $12.49. Approximately 1,782,536 shares were traded during trading, a decline of 79% from the average daily volume of 8,562,820 shares. The stock had previously closed at $13.29.

Wall Street Analyst Weigh In

AVTR has been the subject of several analyst reports. Robert W. Baird dropped their target price on Avantor from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Barclays decreased their price objective on shares of Avantor from $18.00 to $15.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Cowen lowered shares of Avantor from a "buy" rating to a "hold" rating in a report on Monday, April 28th. Royal Bank Of Canada reduced their target price on shares of Avantor from $24.00 to $20.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Finally, TD Cowen lowered shares of Avantor from a "buy" rating to a "hold" rating and set a $15.50 price target for the company. in a research note on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Avantor has an average rating of "Hold" and a consensus price target of $18.14.

Avantor Stock Down 6.4%

The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.75 and a current ratio of 1.12. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.41 and a beta of 1.05. The firm's fifty day simple moving average is $13.31 and its 200 day simple moving average is $16.00.

Avantor (NYSE:AVTR - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. Avantor had a net margin of 10.70% and a return on equity of 11.93%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the company posted $0.22 EPS. The business's quarterly revenue was down 5.9% on a year-over-year basis. On average, sell-side analysts forecast that Avantor, Inc. will post 1.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gregory L. Summe purchased 30,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average price of $12.50 per share, with a total value of $375,000.00. Following the completion of the purchase, the director directly owned 100,000 shares in the company, valued at $1,250,000. This trade represents a 42.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph R. Massaro purchased 8,100 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The stock was bought at an average cost of $12.30 per share, with a total value of $99,630.00. Following the purchase, the director owned 35,038 shares of the company's stock, valued at $430,967.40. This represents a 30.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 83,100 shares of company stock valued at $1,027,630. Company insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Rise Advisors LLC bought a new stake in Avantor in the first quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. raised its position in Avantor by 288.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,701 shares of the company's stock valued at $28,000 after buying an additional 1,263 shares during the last quarter. Wealthquest Corp purchased a new stake in shares of Avantor during the 1st quarter valued at $34,000. GAMMA Investing LLC increased its position in Avantor by 121.6% in 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 during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Avantor by 52.0% in the 1st quarter. Fifth Third Bancorp now owns 3,972 shares of the company's stock worth $64,000 after acquiring an additional 1,359 shares during the last quarter. Institutional investors and hedge funds own 95.08% of the company's stock.

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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