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

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Avantor, Inc. (NYSE:AVTR - Free Report) by 56.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,543 shares of the company's stock after selling 41,071 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Avantor were worth $511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in shares of Avantor by 106.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,611 shares of the company's stock valued at $34,000 after purchasing an additional 830 shares during the period. Wealthquest Corp bought a new stake in Avantor in the 1st quarter valued at about $34,000. AlphaQuest LLC bought a new stake in Avantor in the 4th quarter valued at about $65,000. GAMMA Investing LLC increased its position in Avantor by 121.6% in the 1st quarter. GAMMA Investing LLC now owns 3,747 shares of the company's stock valued at $61,000 after buying an additional 2,056 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in Avantor by 52.0% in the 1st quarter. Fifth Third Bancorp now owns 3,972 shares of the company's stock valued at $64,000 after buying an additional 1,359 shares in the last quarter. 95.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Avantor

In other news, Director Joseph R. Massaro acquired 8,100 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were acquired at an average price of $12.30 per share, for a total transaction of $99,630.00. Following the completion of the purchase, the director owned 35,038 shares in the company, valued at approximately $430,967.40. This trade represents a 30.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory L. Summe acquired 30,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average price of $12.50 per share, for a total transaction of $375,000.00. Following the purchase, the director owned 100,000 shares of the company's stock, valued at $1,250,000. The trade was a 42.86% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 83,100 shares of company stock worth $1,027,630. 1.20% of the stock is owned by company insiders.

Avantor Stock Performance

Shares of AVTR stock traded down $0.01 during trading on Friday, hitting $13.88. The company's stock had a trading volume of 6,225,578 shares, compared to its average volume of 8,420,036. The company has a market cap of $9.46 billion, a PE ratio of 13.35, a P/E/G ratio of 1.47 and a beta of 1.05. The company has a current ratio of 1.12, a quick ratio of 0.75 and a debt-to-equity ratio of 0.54. The business has a fifty day moving average of $13.13 and a 200-day moving average of $16.58. Avantor, Inc. has a 52 week low of $11.82 and a 52 week high of $28.00.

Avantor (NYSE:AVTR - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. Avantor had a return on equity of 11.93% and a net margin of 10.70%. Avantor's quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. As a group, research analysts anticipate that Avantor, Inc. will post 1.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on AVTR. Barclays decreased their target price on Avantor from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Morgan Stanley lowered Avantor from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, April 29th. The Goldman Sachs Group lowered Avantor from a "buy" rating to a "neutral" rating and decreased their target price for the company from $23.00 to $14.00 in a research report on Tuesday, April 29th. Royal Bank Of Canada decreased their target price on Avantor from $24.00 to $20.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Finally, Wells Fargo & Company decreased their price objective on Avantor from $25.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $18.14.

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.