New York State Teachers Retirement System Raises Stock Holdings in Avantor, Inc. $AVTR

Key Points

• The New York State Teachers Retirement System increased its stake in Avantor, Inc. by 7.6%, owning approximately 0.05% of the company, valued at nearly $4.97 million.
• Recent analyst reports have generally set a target price for Avantor between $12.00 and $17.00, with a consensus rating of "Hold" and some firms asserting an "outperform" rating.
• Avantor's quarterly earnings report showed a missed EPS estimate of $0.24, compared to expectations of $0.25, despite revenues slightly exceeding estimates at $1.68 billion.

New York State Teachers Retirement System boosted its stake in Avantor, Inc. (NYSE:AVTR - Free Report) by 7.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 368,987 shares of the company's stock after buying an additional 25,965 shares during the period. New York State Teachers Retirement System owned approximately 0.05% of Avantor worth $4,967,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. raised its holdings in Avantor by 11.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 18,805 shares of the company's stock valued at $253,000 after buying an additional 1,904 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Avantor in the 2nd quarter valued at about $212,000. Vanguard Personalized Indexing Management LLC raised its holdings in Avantor by 29.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 79,259 shares of the company's stock valued at $1,067,000 after buying an additional 18,101 shares during the period. Sivik Global Healthcare LLC raised its holdings in Avantor by 12.5% in the 2nd quarter. Sivik Global Healthcare LLC now owns 225,000 shares of the company's stock valued at $3,029,000 after buying an additional 25,000 shares during the period. Finally, Aberdeen Group plc raised its holdings in Avantor by 6.5% in the 2nd quarter. Aberdeen Group plc now owns 463,759 shares of the company's stock valued at $6,242,000 after buying an additional 28,137 shares during the period. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Avantor

In other news, CAO Steven W. Eck sold 3,476 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $11.39, for a total transaction of $39,591.64. Following the completion of the transaction, the chief accounting officer directly owned 55,068 shares of the company's stock, valued at approximately $627,224.52. The trade was a 5.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

AVTR has been the topic of several research analyst reports. Morgan Stanley reduced their price objective on shares of Avantor from $15.00 to $12.00 and set an "equal weight" rating on the stock in a report on Monday, August 4th. Stifel Nicolaus set a $12.00 target price on Avantor and gave the company a "hold" rating in a research report on Monday, August 4th. Evercore ISI dropped their target price on Avantor from $18.00 to $16.00 and set an "outperform" rating for the company in a research report on Monday, August 4th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Avantor in a research report on Friday, August 1st. Finally, Royal Bank Of Canada dropped their target price on Avantor from $20.00 to $17.00 and set an "outperform" rating for the company in a research report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Avantor has a consensus rating of "Hold" and a consensus price target of $15.81.

Avantor Stock Performance

Shares of Avantor stock opened at $15.19 on Tuesday. Avantor, Inc. has a one year low of $10.82 and a one year high of $24.86. The company has a market cap of $10.35 billion, a PE ratio of 15.34, a P/E/G ratio of 4.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.67 and a current ratio of 0.98. The business has a 50-day simple moving average of $13.13 and a 200-day simple moving average of $13.33.

Avantor (NYSE:AVTR - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Avantor had a return on equity of 11.39% and a net margin of 10.31%.The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The business's quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Avantor, Inc. will post 1.06 EPS 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.

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