Avantor, Inc. $AVTR is Broyhill Asset Management LLC's 3rd Largest Position

Key Points

• Broyhill Asset Management LLC increased its stake in Avantor, Inc. by 69.6% in the first quarter, making it the third largest position in their portfolio.
• Avantor's stock is currently trading at $13.25, with a market capitalization of $9.03 billion and a 52-week range between $10.82 and $27.83.
• Several analysts have downgraded their price targets for Avantor, with the new average price target set at $15.50, signaling mixed outlooks from brokerage firms.

Broyhill Asset Management LLC raised its position in shares of Avantor, Inc. (NYSE:AVTR - Free Report) by 69.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 365,055 shares of the company's stock after acquiring an additional 149,758 shares during the quarter. Avantor makes up about 4.8% of Broyhill Asset Management LLC's holdings, making the stock its 3rd largest holding. Broyhill Asset Management LLC owned 0.05% of Avantor worth $5,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Avantor by 10.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company's stock valued at $132,000 after purchasing an additional 592 shares during the last quarter. American Trust boosted its holdings in Avantor by 4.5% in the fourth quarter. American Trust now owns 15,198 shares of the company's stock valued at $320,000 after purchasing an additional 658 shares during the period. Nissay Asset Management Corp Japan ADV increased its position in Avantor by 1.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 82,523 shares of the company's stock worth $1,767,000 after buying an additional 857 shares during the period. Portside Wealth Group LLC lifted its holdings in shares of Avantor by 9.0% during the first quarter. Portside Wealth Group LLC now owns 10,673 shares of the company's stock worth $173,000 after purchasing an additional 882 shares during the period. Finally, Signaturefd LLC lifted its holdings in Avantor by 19.8% in the first quarter. Signaturefd LLC now owns 5,470 shares of the company's stock valued at $89,000 after acquiring an additional 904 shares during the period. Institutional investors and hedge funds own 95.08% of the company's stock.

Insiders Place Their Bets

In other news, CAO Steven W. Eck sold 3,476 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $11.39, for a total value of $39,591.64. Following the completion of the transaction, the chief accounting officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on AVTR shares. JPMorgan Chase & Co. lowered their price target on Avantor from $17.00 to $14.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Morgan Stanley dropped their target price on Avantor from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Monday, August 4th. Robert W. Baird decreased their target price on Avantor from $18.00 to $15.00 and set an "outperform" rating for the company in a research note on Monday, August 4th. Wells Fargo & Company decreased their price objective on Avantor from $19.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Avantor in a research report on Friday, August 1st. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $15.50.

Avantor Stock Down 2.0%

NYSE AVTR traded down $0.27 during trading hours on Tuesday, hitting $13.20. 3,055,348 shares of the company traded hands, compared to its average volume of 10,837,507. Avantor, Inc. has a twelve month low of $10.82 and a twelve month high of $27.83. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.53 and a beta of 0.98. The business's 50-day moving average is $13.12 and its 200-day moving average is $14.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.67 and a current ratio of 0.98.

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). The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. Avantor had a net margin of 10.31% and a return on equity of 11.39%. The company's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. Sell-side analysts anticipate that Avantor, Inc. will post 1.06 earnings per share for the current year.

Avantor Company Profile

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.