Alberta Investment Management Corp Invests $12.73 Million in Avantor, Inc. $AVTR

Key Points

• Alberta Investment Management Corp opened a new position in Avantor during the fourth quarter, buying 1,111,144 shares valued at about $12.73 million. The stake represented roughly 0.16% of the company.
• Avantor reported Q1 earnings of $0.17 per share, beating estimates by a penny, and revenue of $1.58 billion, which also topped Wall Street expectations. The company still posted a negative net margin of 8.42%.
• Analyst sentiment has softened, with several firms cutting targets and ratings; the stock now carries an average rating of “Reduce” and a consensus price target of $10.57. Insider buying was also notable, with two directors purchasing shares in May.

Alberta Investment Management Corp purchased a new position in shares of Avantor, Inc. (NYSE:AVTR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,111,144 shares of the company's stock, valued at approximately $12,734,000. Alberta Investment Management Corp owned approximately 0.16% of Avantor at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AVTR. EverSource Wealth Advisors LLC grew its position in shares of Avantor by 119.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,187 shares of the company's stock worth $29,000 after buying an additional 1,189 shares in the last quarter. Private Trust Co. NA grew its position in shares of Avantor by 46.2% during the fourth quarter. Private Trust Co. NA now owns 2,769 shares of the company's stock worth $32,000 after buying an additional 875 shares in the last quarter. Strategic Wealth Investment Group LLC acquired a new stake in shares of Avantor during the second quarter worth approximately $32,000. Los Angeles Capital Management LLC acquired a new stake in shares of Avantor during the fourth quarter worth approximately $32,000. Finally, Osaic Holdings Inc. grew its position in shares of Avantor by 60.9% during the second quarter. Osaic Holdings Inc. now owns 2,810 shares of the company's stock worth $38,000 after buying an additional 1,064 shares in the last quarter. Institutional investors and hedge funds own 95.08% of the company's stock.

Avantor Stock Performance

Shares of AVTR opened at $9.71 on Tuesday. The business's fifty day moving average price is $8.41 and its 200 day moving average price is $9.60. Avantor, Inc. has a 12-month low of $7.26 and a 12-month high of $15.93. The stock has a market capitalization of $6.63 billion, a PE ratio of -11.99, a price-to-earnings-growth ratio of 5.45 and a beta of 0.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.17.

Avantor (NYSE:AVTR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. Avantor had a positive return on equity of 9.95% and a negative net margin of 8.42%.The firm had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same period last year, the business posted $0.23 earnings per share. The firm's revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts forecast that Avantor, Inc. will post 0.79 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AVTR shares. Barclays decreased their price target on shares of Avantor from $8.50 to $7.00 and set an "underweight" rating for the company in a research report on Tuesday, April 14th. Citigroup reduced their price objective on Avantor from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. Wolfe Research cut Avantor to an "underperform" rating and set a $7.00 price objective on the stock. in a research note on Monday, June 1st. Royal Bank Of Canada began coverage on Avantor in a research note on Thursday, May 14th. They set a "sector perform" rating and a $9.00 price objective on the stock. Finally, Wall Street Zen cut Avantor from a "buy" rating to a "hold" rating in a research note on Saturday, May 30th. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $10.57.

Insiders Place Their Bets

In related news, Director Gregory T. Lucier bought 10,000 shares of the business's stock in a transaction on Friday, May 8th. The shares were bought at an average cost of $8.32 per share, for a total transaction of $83,200.00. Following the completion of the purchase, the director owned 60,000 shares of the company's stock, valued at $499,200. This represents a 20.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Simon Dingemans bought 25,000 shares of the business's stock in a transaction on Friday, May 1st. The stock was bought at an average price of $8.14 per share, for a total transaction of $203,500.00. Following the completion of the purchase, the director directly owned 25,000 shares of the company's stock, valued at $203,500. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.28% of the company's stock.

About Avantor

Avantor, Inc NYSE: AVTR is a global provider of mission-critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. The company delivers essential solutions that support research, development, production and safety applications. Its product portfolio spans from high-purity chemicals and reagents to biologics and cell culture media, as well as lab equipment, consumables and custom manufacturing services.

Avantor's offerings are organized across two primary segments.

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