513,681 Avantor, Inc. $AVTR Shares Sold by Private Management Group Inc.

Key Points

• Private Management Group cut its Avantor stake by 16.6%, selling 513,681 shares in the third quarter; it retained 2.58 million shares, worth about $38.9 million.
• Analysts’ consensus rating is Hold, with an average price target of $14.77; two analysts rate the stock Buy, 13 Hold, and one Sell.
• Avantor beat quarterly estimates with earnings of $0.22 per share and revenue of $1.70 billion, up 4.6% year over year.

Private Management Group Inc. decreased its holdings in shares of Avantor, Inc. (NYSE:AVTR - Free Report) by 16.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,583,553 shares of the company's stock after selling 513,681 shares during the period. Avantor makes up approximately 1.0% of Private Management Group Inc.'s investment portfolio, making the stock its 26th largest holding. Private Management Group Inc. owned 0.38% of Avantor worth $38,882,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Fulcrum Asset Management LLP boosted its stake in Avantor by 2,047.7% in the 3rd quarter. Fulcrum Asset Management LLP now owns 176,112 shares of the company's stock worth $2,684,000 after purchasing an additional 167,912 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Avantor by 7.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,253 shares of the company's stock valued at $199,000 after purchasing an additional 957 shares in the last quarter. Ethic Inc. increased its stake in Avantor by 158.9% during the 3rd quarter. Ethic Inc. now owns 55,706 shares of the company's stock valued at $838,000 after purchasing an additional 34,186 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Avantor by 3.8% in the third quarter. Parallel Advisors LLC now owns 19,033 shares of the company's stock worth $286,000 after buying an additional 693 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of Avantor by 57.8% in the third quarter. Chicago Partners Investment Group LLC now owns 53,137 shares of the company's stock worth $919,000 after buying an additional 19,455 shares during the last quarter. Institutional investors and hedge funds own 95.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AVTR. Wall Street Zen upgraded shares of Avantor from a "hold" rating to a "buy" rating in a research note on Sunday, October 11th. Barclays raised their target price on Avantor from $15.00 to $16.00 and gave the stock an "underweight" rating in a report on Thursday, October 29th. Morgan Stanley upped their price objective on shares of Avantor from $14.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 13th. Royal Bank Of Canada upped their target price on Avantor from $14.00 to $17.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 28th. Finally, Evercore set a $17.00 target price on Avantor in a research report on Wednesday, October 28th. Two analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Avantor presently has a consensus rating of "Hold" and an average price target of $14.77.

Avantor Stock Up 2.8%

AVTR stock opened at $15.90 on Tuesday. Avantor, Inc. has a 52 week low of $7.26 and a 52 week high of $17.45. The company has a quick ratio of 1.27, a current ratio of 1.89 and a debt-to-equity ratio of 0.63. The firm has a 50-day simple moving average of $15.62 and a 200-day simple moving average of $11.34. The stock has a market capitalization of $10.77 billion, a P/E ratio of 31.79, a P/E/G ratio of 7.08 and a beta of 0.95.

Avantor (NYSE:AVTR - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.01. Avantor had a net margin of 5.08% and a return on equity of 9.79%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the company posted $0.22 EPS. Avantor's quarterly revenue was up 4.6% compared to the same quarter last year. Equities analysts forecast that Avantor, Inc. will post 0.82 earnings per share for the current fiscal year.

Avantor Profile

Avantor, Inc is a global provider of products and services used in life sciences, advanced technology and applied materials. Its customers include biopharmaceutical and healthcare companies, laboratories, universities and manufacturers.

The company supplies chemicals, reagents, laboratory consumables and equipment, as well as materials used in biopharmaceutical production. Avantor also provides services such as procurement, inventory management and support for laboratory and production operations.

Avantor traces its history to J.T.

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