Avantor, Inc. $AVTR Stock: ARGA Investment Management LP Decreases Holdings

Key Points

• ARGA Investment Management cut its Avantor stake by 47.8% in the third quarter, selling 89,270 shares and retaining 97,329 shares valued at about $1.47 million.
• Avantor reported quarterly EPS of $0.22, topping the $0.21 consensus, while revenue of $1.70 billion exceeded estimates of $1.64 billion and rose 4.6% year over year.
• Analysts’ consensus rating was Hold, with a consensus price target of $14.77; the stock opened at $15.61 in the article’s market update.

ARGA Investment Management LP reduced its stake in Avantor, Inc. (NYSE:AVTR - Free Report) by 47.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,329 shares of the company's stock after selling 89,270 shares during the period. ARGA Investment Management LP's holdings in Avantor were worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Elevation Wealth Partners LLC raised its position in shares of Avantor by 72.3% in the 3rd quarter. Elevation Wealth Partners LLC now owns 2,803 shares of the company's stock valued at $42,000 after buying an additional 1,176 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Avantor during the 3rd quarter worth approximately $57,000. IFP Advisors Inc increased its stake in Avantor by 901.4% in the second quarter. IFP Advisors Inc now owns 5,858 shares of the company's stock valued at $58,000 after acquiring an additional 5,273 shares during the last quarter. Parallel Advisors LLC increased its stake in Avantor by 21.4% in the first quarter. Parallel Advisors LLC now owns 8,452 shares of the company's stock valued at $66,000 after acquiring an additional 1,491 shares during the last quarter. Finally, State of Wyoming bought a new position in Avantor in the second quarter valued at approximately $74,000. Institutional investors and hedge funds own 95.08% of the company's stock.

Avantor Trading Down 0.0%

NYSE AVTR opened at $15.61 on Wednesday. The company has a market cap of $10.58 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 7.06 and a beta of 0.95. Avantor, Inc. has a twelve month low of $7.26 and a twelve month 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 business's fifty day moving average is $15.54 and its 200 day moving average is $11.27.

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

Analysts Set New Price Targets

AVTR has been the subject of several recent analyst reports. Evercore set a $17.00 target price on Avantor in a research note on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $17.00 price target on shares of Avantor in a report on Thursday, October 29th. Stifel Nicolaus upped their price objective on Avantor from $15.00 to $18.00 and gave the stock a "hold" rating in a research report on Thursday, October 29th. Morgan Stanley upped their price objective on Avantor from $14.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 13th. Finally, Wells Fargo & Company raised their price objective on Avantor from $14.00 to $16.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.77.

Avantor Profile

Avantor, Inc is a global provider of mission-critical products and services used in the life sciences, healthcare, education, and advanced technology industries. The company supplies chemicals, reagents, laboratory consumables, equipment, and other materials used in research, development, manufacturing, and quality-control activities.

Avantor also provides specialized solutions for biopharmaceutical production, including materials and services that support drug development, biologics manufacturing, and other bioprocessing applications.

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