1832 Asset Management L.P. Buys 8,578,493 Shares of Avantor, Inc. $AVTR

Key Points

• 1832 Asset Management L.P. has significantly increased its stake in Avantor, Inc. by 89.8%, resulting in ownership of 18,127,204 shares, valued at approximately $293.8 million.
• Multiple analysts have reduced their price targets for Avantor, with Morgan Stanley lowering its target from $15.00 to $12.00 and Evercore ISI from $18.00 to $16.00.
• Avantor's recent quarterly earnings report revealed an EPS of $0.24, missing estimates, and a revenue of $1.68 billion, down 1.1% year-over-year.

1832 Asset Management L.P. grew its holdings in shares of Avantor, Inc. (NYSE:AVTR - Free Report) by 89.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,127,204 shares of the company's stock after purchasing an additional 8,578,493 shares during the period. 1832 Asset Management L.P. owned about 2.66% of Avantor worth $293,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealthquest Corp purchased a new stake in shares of Avantor during the 1st quarter worth $34,000. GAMMA Investing LLC lifted its position in Avantor by 121.6% during the 1st quarter. GAMMA Investing LLC now owns 3,747 shares of the company's stock worth $61,000 after acquiring an additional 2,056 shares during the period. Fifth Third Bancorp raised its position in Avantor by 52.0% during the 1st quarter. Fifth Third Bancorp now owns 3,972 shares of the company's stock worth $64,000 after buying an additional 1,359 shares during the last quarter. S Bank Fund Management Ltd purchased a new position in shares of Avantor during the 1st quarter worth approximately $80,000. Finally, Signaturefd LLC boosted its position in shares of Avantor by 19.8% during the 1st quarter. Signaturefd LLC now owns 5,470 shares of the company's stock worth $89,000 after purchasing an additional 904 shares in the last quarter. 95.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVTR has been the subject of a number of research analyst reports. Raymond James Financial set a $14.00 price target on Avantor and gave the company an "outperform" rating in a research report on Monday, August 4th. Wells Fargo & Company reduced their price target on shares of Avantor from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Robert W. Baird lowered their price target on shares of Avantor from $18.00 to $15.00 and set an "outperform" rating on the stock in a research report on Monday, August 4th. JPMorgan Chase & Co. reduced their price target on Avantor from $17.00 to $14.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, Morgan Stanley lowered their price objective on Avantor from $15.00 to $12.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Avantor presently has an average rating of "Hold" and a consensus price target of $15.50.

Insider Buying and Selling at Avantor

In related news, CAO Steven W. Eck sold 3,476 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $11.39, for a total value of $39,591.64. Following the completion of the sale, the chief accounting officer owned 55,068 shares of the company's stock, valued at $627,224.52. This trade represents a 5.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Avantor Stock Down 1.2%

Shares of AVTR traded down $0.17 during mid-day trading on Wednesday, reaching $13.14. The company's stock had a trading volume of 3,437,103 shares, compared to its average volume of 10,855,498. Avantor, Inc. has a 1 year low of $10.82 and a 1 year high of $27.83. The company has a quick ratio of 0.67, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 1.49 and a beta of 0.96. The business has a fifty day moving average of $13.13 and a 200 day moving average of $14.33.

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