Neo Ivy Capital Management Sells 98,776 Shares of Avantor, Inc. (NYSE:AVTR)

Key Points

• Neo Ivy Capital Management significantly reduced its stake in Avantor, Inc. by 98.3%, now holding only 1,694 shares after selling 98,776 shares during the 1st quarter.
• Several other institutional investors, including Dodge & Cox and Barrow Hanley Mewhinney & Strauss LLC, have increased their stakes in Avantor, contributing to a comprehensive ownership of 95.08% of the company by institutional investors.
• A series of analyst downgrades occurred, with TD Cowen and others lowering Avantor's ratings and price targets, reflecting a cautious sentiment towards the stock amidst a consensus rating of "Hold."

Neo Ivy Capital Management cut its stake in Avantor, Inc. (NYSE:AVTR - Free Report) by 98.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,694 shares of the company's stock after selling 98,776 shares during the quarter. Neo Ivy Capital Management's holdings in Avantor were worth $27,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Tidal Investments LLC increased its stake in Avantor by 59.6% during the 4th quarter. Tidal Investments LLC now owns 18,869 shares of the company's stock worth $398,000 after acquiring an additional 7,048 shares during the period. Rhenman & Partners Asset Management AB boosted its holdings in shares of Avantor by 40.5% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 61,826 shares of the company's stock valued at $1,303,000 after acquiring an additional 17,826 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Avantor by 121.6% during the first quarter. GAMMA Investing LLC now owns 3,747 shares of the company's stock worth $61,000 after purchasing an additional 2,056 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in Avantor by 0.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 2,921,765 shares of the company's stock worth $61,562,000 after acquiring an additional 7,800 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of Avantor by 2.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,560,792 shares of the company's stock worth $138,236,000 after purchasing an additional 179,894 shares during the last quarter. 95.08% of the stock is owned by institutional investors.

Insider Buying and Selling at Avantor

In other Avantor news, Director Gregory L. Summe purchased 30,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were bought at an average price of $12.50 per share, with a total value of $375,000.00. Following the completion of the transaction, the director directly owned 100,000 shares in the company, valued at approximately $1,250,000. This trade represents a 42.86% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 75,000 shares of company stock valued at $928,000 in the last three months. 1.20% of the stock is owned by company insiders.

Avantor Stock Performance

AVTR traded up $0.00 during trading hours on Wednesday, hitting $14.01. The stock had a trading volume of 2,643,167 shares, compared to its average volume of 10,052,520. Avantor, Inc. has a 1 year low of $11.82 and a 1 year high of $28.00. The company's fifty day simple moving average is $13.36 and its 200 day simple moving average is $15.63. The stock has a market cap of $9.55 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.49 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.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AVTR shares. Barclays decreased their target price on shares of Avantor from $18.00 to $15.00 and set an "overweight" rating for the company in a research report 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 report on Monday, April 28th. Stifel Nicolaus lowered shares of Avantor from a "buy" rating to a "hold" rating and dropped their price objective for the company from $26.00 to $14.00 in a research note on Monday, April 28th. Wells Fargo & Company cut their target price on Avantor from $25.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group lowered shares of Avantor from a "buy" rating to a "neutral" rating and dropped their price target for the company from $23.00 to $14.00 in a research report on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Avantor presently has a consensus rating of "Hold" and a consensus target price of $18.23.

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.