TD Asset Management Inc Increases Stake in Avantor, Inc. (NYSE:AVTR)

Key Points

• TD Asset Management Inc increased its stake in Avantor, Inc. by 1.5% in Q1, owning 3,466,232 shares valued at approximately $56 million.
• Avantor's quarterly earnings reported a net margin of 10.70% and earnings per share matching analysts' expectations at $0.23, although revenue decreased by 5.9% year-over-year.
• Several research firms have recently dropped price targets for Avantor, with Goldman Sachs lowering theirs from $23.00 to $14.00, indicating a cautious outlook on the stock.

TD Asset Management Inc increased its holdings in Avantor, Inc. (NYSE:AVTR - Free Report) by 1.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,466,232 shares of the company's stock after purchasing an additional 52,179 shares during the period. TD Asset Management Inc owned approximately 0.51% of Avantor worth $56,188,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AVTR. LPL Financial LLC raised its holdings in Avantor by 25.9% during the 4th quarter. LPL Financial LLC now owns 139,394 shares of the company's stock valued at $2,937,000 after buying an additional 28,706 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Avantor by 13.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 507,188 shares of the company's stock valued at $11,036,000 after buying an additional 58,671 shares during the last quarter. Elo Mutual Pension Insurance Co raised its holdings in Avantor by 2.1% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 61,596 shares of the company's stock valued at $1,298,000 after buying an additional 1,260 shares during the last quarter. Norges Bank bought a new stake in Avantor during the 4th quarter valued at $142,512,000. Finally, New Age Alpha Advisors LLC bought a new stake in Avantor during the 4th quarter valued at $1,311,000. Hedge funds and other institutional investors own 95.08% of the company's stock.

Avantor Stock Down 1.0%

Shares of Avantor stock traded down $0.14 during trading on Thursday, hitting $13.66. The company's stock had a trading volume of 5,670,325 shares, compared to its average volume of 10,095,804. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.75 and a current ratio of 1.12. The company has a fifty day simple moving average of $13.39 and a two-hundred day simple moving average of $15.62. The company has a market capitalization of $9.31 billion, a PE ratio of 13.13, a P/E/G ratio of 1.49 and a beta of 1.05. Avantor, Inc. has a 52 week low of $11.82 and a 52 week high of $28.00.

Analyst Ratings Changes

AVTR has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered shares of Avantor from a "buy" rating to a "hold" rating and lowered their price target for the company from $26.00 to $14.00 in a report on Monday, April 28th. The Goldman Sachs Group lowered shares of Avantor from a "buy" rating to a "neutral" rating and lowered their price target for the company from $23.00 to $14.00 in a report on Tuesday, April 29th. Royal Bank Of Canada lowered their price target on shares of Avantor from $24.00 to $20.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Morgan Stanley lowered shares of Avantor from an "overweight" rating to an "equal weight" rating in a report on Tuesday, April 29th. Finally, Wells Fargo & Company decreased their price objective on shares of Avantor from $25.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $18.23.

Insider Activity

In other Avantor news, Director Gregory L. Summe purchased 30,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $12.50 per share, for a total transaction of $375,000.00. Following the purchase, the director directly owned 100,000 shares in the company, valued at $1,250,000. The trade was a 42.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have bought 75,000 shares of company stock valued at $928,000. 1.20% of the stock is owned by company insiders.

About Avantor

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.