Bank of New York Mellon Corp Sells 50,443 Shares of Avantor, Inc. (NYSE:AVTR)

Bank of New York Mellon Corp lessened its stake in Avantor, Inc. (NYSE:AVTR - Free Report) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,780,276 shares of the company's stock after selling 50,443 shares during the period. Bank of New York Mellon Corp owned about 0.70% of Avantor worth $77,488,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC increased its stake in shares of Avantor by 59.6% in the fourth quarter. Tidal Investments LLC now owns 18,869 shares of the company's stock worth $398,000 after buying an additional 7,048 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Avantor by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,027,636 shares of the company's stock worth $63,792,000 after purchasing an additional 74,735 shares during the period. Rhenman & Partners Asset Management AB boosted its holdings in Avantor by 40.5% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 61,826 shares of the company's stock worth $1,303,000 after purchasing an additional 17,826 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Avantor by 106.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,611 shares of the company's stock worth $34,000 after purchasing an additional 830 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Avantor in the fourth quarter worth $33,091,000. Institutional investors own 95.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AVTR shares. 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. Morgan Stanley downgraded shares of Avantor from an "overweight" rating to an "equal weight" rating in a report on Tuesday, April 29th. Stifel Nicolaus downgraded shares of Avantor from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $26.00 to $14.00 in a report on Monday, April 28th. Barclays decreased their price objective on shares of Avantor from $18.00 to $15.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Royal Bank Of Canada reduced 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. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $18.14.

Insider Transactions at Avantor

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

Avantor Trading Down 2.7%

NYSE AVTR traded down $0.37 on Monday, hitting $13.22. 13,021,613 shares of the company were exchanged, compared to its average volume of 9,946,086. The company's 50 day moving average price is $13.21 and its 200-day moving average price is $16.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.12 and a quick ratio of 0.75. The firm has a market capitalization of $9.01 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. Avantor, Inc. has a twelve month low of $11.82 and a twelve month high of $28.00.

Avantor (NYSE:AVTR - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.61 billion. Avantor had a return on equity of 11.93% and a net margin of 10.70%. The business's revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. Analysts predict that Avantor, Inc. will post 1.06 earnings per share for the current fiscal 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.