Envestnet Asset Management Inc. Buys 44,073 Shares of Avantor, Inc. (NYSE:AVTR)

Envestnet Asset Management Inc. lifted its position in Avantor, Inc. (NYSE:AVTR - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 682,325 shares of the company's stock after purchasing an additional 44,073 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of Avantor worth $11,060,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AVTR. Wealthquest Corp acquired a new position in shares of Avantor during the first quarter worth approximately $34,000. GAMMA Investing LLC lifted its holdings in Avantor by 121.6% during the 1st quarter. GAMMA Investing LLC now owns 3,747 shares of the company's stock worth $61,000 after buying an additional 2,056 shares in the last quarter. Fifth Third Bancorp boosted 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 during the last quarter. Signaturefd LLC increased its stake in shares of Avantor by 24.9% in the 4th quarter. Signaturefd LLC now owns 4,566 shares of the company's stock valued at $96,000 after buying an additional 911 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of Avantor by 137.9% during the first quarter. UMB Bank n.a. now owns 7,093 shares of the company's stock valued at $115,000 after acquiring an additional 4,112 shares during the period. Institutional investors and hedge funds own 95.08% of the company's stock.

Avantor Stock Performance

Shares of NYSE:AVTR opened at $13.29 on Monday. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.41 and a beta of 1.05. The company has a quick ratio of 0.75, a current ratio of 1.12 and a debt-to-equity ratio of 0.54. Avantor, Inc. has a 12 month low of $11.82 and a 12 month high of $28.00. The company's fifty day simple moving average is $13.31 and its 200 day simple moving average is $16.00.

Avantor (NYSE:AVTR - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.23 EPS for the quarter, meeting analysts' consensus estimates of $0.23. The company had revenue of $1.58 billion for 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%. The company's quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. As a group, research analysts forecast that Avantor, Inc. will post 1.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on AVTR shares. Cowen lowered Avantor from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Wells Fargo & Company cut their price objective on shares of Avantor from $25.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Barclays reduced their price objective on shares of Avantor from $18.00 to $15.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. TD Cowen lowered Avantor from a "buy" rating to a "hold" rating and set a $15.50 price target on the stock. in a research report on Monday, April 28th. Finally, Morgan Stanley lowered shares of Avantor from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $18.14.

Insider Activity

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

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.

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