Reinhart Partners LLC. Sells 47,394 Shares of Avantor, Inc. $AVTR

Key Points

• Reinhart Partners LLC reduced its stake in Avantor, Inc. by 7.7%, owning approximately 0.08% of the company after selling 47,394 shares during the second quarter.
• Avantor's stock recently opened at $12.71 and has seen a 2.6% increase, despite reporting earnings per share of $0.24, missing expectations.
• Multiple brokerages have downgraded Avantor's price targets, with Robert W. Baird lowering it from $18.00 to $15.00, while Barclays set a new target of $13.00.

Reinhart Partners LLC. trimmed its holdings in shares of Avantor, Inc. (NYSE:AVTR - Free Report) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 568,329 shares of the company's stock after selling 47,394 shares during the period. Reinhart Partners LLC. owned approximately 0.08% of Avantor worth $7,650,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Avantor by 10.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company's stock valued at $132,000 after acquiring an additional 592 shares during the period. Man Group plc acquired a new stake in shares of Avantor during the 4th quarter worth about $750,000. ProShare Advisors LLC lifted its stake in Avantor by 7.4% during the fourth quarter. ProShare Advisors LLC now owns 31,843 shares of the company's stock worth $671,000 after purchasing an additional 2,197 shares in the last quarter. Snowden Capital Advisors LLC boosted its stake in shares of Avantor by 5.7% in the fourth quarter. Snowden Capital Advisors LLC now owns 23,311 shares of the company's stock valued at $491,000 after purchasing an additional 1,255 shares during the period. Finally, Toronto Dominion Bank raised its position in Avantor by 6.9% in the 4th quarter. Toronto Dominion Bank now owns 88,812 shares of the company's stock valued at $1,871,000 after purchasing an additional 5,748 shares in the last quarter. Hedge funds and other institutional investors own 95.08% of the company's stock.

Avantor Price Performance

Shares of AVTR stock traded down $0.36 during mid-day trading on Friday, hitting $12.50. 15,921,984 shares of the stock traded hands, compared to its average volume of 10,742,452. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.67 and a current ratio of 0.98. The company's 50-day simple moving average is $12.88 and its 200-day simple moving average is $13.79. Avantor, Inc. has a twelve month low of $10.82 and a twelve month high of $27.51. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 1.46 and a beta of 0.98.

Avantor (NYSE:AVTR - Get Free Report) last posted 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 return on equity of 11.39% and a net margin of 10.31%.The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm posted $0.25 EPS. The company's quarterly revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts expect that Avantor, Inc. will post 1.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on AVTR shares. Barclays reiterated an "overweight" rating and issued a $13.00 price target (down from $15.00) on shares of Avantor in a research note on Monday, August 4th. Evercore ISI cut their price target on Avantor from $18.00 to $16.00 and set an "outperform" rating for the company in a research note on Monday, August 4th. Raymond James Financial set a $14.00 price target on shares of Avantor and gave the stock an "outperform" rating in a report on Monday, August 4th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Avantor in a research report on Friday, August 1st. Finally, Morgan Stanley decreased their target price 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.50.

Insider Activity at Avantor

In other Avantor news, CAO Steven W. Eck sold 3,476 shares of Avantor stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $11.39, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.20% of the company's stock.

Avantor 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.