Nuveen LLC Invests $22.03 Million in Avantor, Inc. $AVTR

Key Points

• Nuveen LLC has invested approximately $22.03 million in Avantor, Inc. by purchasing 1,359,218 shares, representing about 0.20% ownership of the company at the end of the previous quarter.
• Several institutional investors have increased their stakes in Avantor, contributing to a total institutional ownership of 95.08% of the company’s stock.
• Avantor reported Q2 earnings of $0.24 per share, missing estimates by $0.01, and experienced a 1.1% decline in quarterly revenue compared to the same period last year.

Nuveen LLC bought a new stake in Avantor, Inc. (NYSE:AVTR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,359,218 shares of the company's stock, valued at approximately $22,033,000. Nuveen LLC owned about 0.20% of Avantor as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealthquest Corp purchased a new position in Avantor in the first quarter valued at about $34,000. GAMMA Investing LLC boosted its stake in Avantor by 121.6% in the first quarter. GAMMA Investing LLC now owns 3,747 shares of the company's stock valued at $61,000 after acquiring an additional 2,056 shares during the last quarter. Fifth Third Bancorp boosted its stake in Avantor by 52.0% in the first quarter. Fifth Third Bancorp now owns 3,972 shares of the company's stock valued at $64,000 after acquiring an additional 1,359 shares during the last quarter. Signaturefd LLC boosted its stake in Avantor by 19.8% in the first quarter. Signaturefd LLC now owns 5,470 shares of the company's stock valued at $89,000 after acquiring an additional 904 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Avantor by 85.8% during the 1st quarter. National Bank of Canada FI now owns 6,509 shares of the company's stock valued at $105,000 after buying an additional 3,006 shares in the last quarter. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Avantor Price Performance

Avantor stock traded up $0.6950 during midday trading on Friday, reaching $13.2550. 7,756,499 shares of the stock were exchanged, compared to its average volume of 14,474,128. The company's fifty day moving average is $13.13 and its 200-day moving average is $14.43. 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 firm has a market cap of $9.04 billion, a PE ratio of 13.39, a PEG ratio of 1.50 and a beta of 0.96. Avantor, Inc. has a 52 week low of $10.82 and a 52 week high of $27.83.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AVTR. Stifel Nicolaus set a $12.00 price target on shares of Avantor and gave the company a "hold" rating in a research note on Monday, August 4th. Royal Bank Of Canada dropped their price target on shares of Avantor from $20.00 to $17.00 and set an "outperform" rating on the stock in a research note on Monday, August 4th. Barclays restated an "overweight" rating and set a $13.00 price target (down from $15.00) on shares of Avantor in a research note on Monday, August 4th. Morgan Stanley dropped their price target on shares of Avantor from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Finally, Wells Fargo & Company dropped their price target on shares of Avantor from $19.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.50.

Insiders Place Their Bets

In related news, CAO Steven W. Eck sold 3,476 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $11.39, for a total transaction of $39,591.64. Following the sale, the chief accounting officer owned 55,068 shares of the company's stock, valued at approximately $627,224.52. This represents a 5.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company's stock.

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.