Mirae Asset Global Investments Co. Ltd. Reduces Holdings in Avantor, Inc. (NYSE:AVTR)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Avantor, Inc. (NYSE:AVTR - Free Report) by 56.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 31,543 shares of the company's stock after selling 41,071 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Avantor were worth $511,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of Avantor by 106.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,611 shares of the company's stock valued at $34,000 after acquiring an additional 830 shares in the last quarter. Wealthquest Corp acquired a new stake in Avantor in the first quarter valued at $34,000. GAMMA Investing LLC boosted its holdings in Avantor by 121.6% in the first quarter. GAMMA Investing LLC now owns 3,747 shares of the company's stock valued at $61,000 after purchasing an additional 2,056 shares in the last quarter. Fifth Third Bancorp raised its holdings in Avantor by 52.0% during the first quarter. Fifth Third Bancorp now owns 3,972 shares of the company's stock worth $64,000 after purchasing an additional 1,359 shares in the last quarter. Finally, AlphaQuest LLC purchased a new stake in shares of Avantor during the 4th quarter worth approximately $65,000. Hedge funds and other institutional investors own 95.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AVTR shares. Wells Fargo & Company dropped their target price on shares of Avantor from $25.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. TD Cowen lowered shares of Avantor from a "buy" rating to a "hold" rating and set a $15.50 price objective on the stock. in a research report on Monday, April 28th. Stifel Nicolaus downgraded shares of Avantor from a "buy" rating to a "hold" rating and lowered their target price for the company from $26.00 to $14.00 in a report on Monday, April 28th. Morgan Stanley cut shares of Avantor from an "overweight" rating to an "equal weight" rating in a report on Tuesday, April 29th. Finally, Cowen downgraded Avantor from a "buy" rating to a "hold" rating in a report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Avantor currently has a consensus rating of "Hold" and a consensus target price of $18.14.

Insider Transactions at Avantor

In related news, Director Gregory L. Summe bought 30,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $12.50 per share, for a total transaction of $375,000.00. Following the completion of the acquisition, the director owned 100,000 shares in the company, valued at $1,250,000. This trade represents a 42.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph R. Massaro bought 8,100 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was purchased at an average cost of $12.30 per share, for a total transaction of $99,630.00. Following the completion of the transaction, the director directly owned 35,038 shares in the company, valued at approximately $430,967.40. This trade represents a 30.07% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 83,100 shares of company stock valued at $1,027,630. Corporate insiders own 1.20% of the company's stock.

Avantor Price Performance

AVTR stock traded down $0.37 on Monday, reaching $13.51. The company had a trading volume of 13,685,154 shares, compared to its average volume of 8,442,462. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.75 and a current ratio of 1.12. Avantor, Inc. has a 1 year low of $11.82 and a 1 year high of $28.00. The company's fifty day moving average is $13.13 and its 200 day moving average is $16.55. The company has a market cap of $9.21 billion, a P/E ratio of 12.99, a PEG ratio of 1.47 and a beta of 1.05.

Avantor (NYSE:AVTR - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.23. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. Avantor had a net margin of 10.70% and a return on equity of 11.93%. Avantor's revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 earnings per share. On average, research analysts forecast 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.