Phraction Management LLC Invests $1.04 Million in Avantor, Inc. $AVTR

Key Points

• Phraction Management LLC invested $1.04 million in Avantor, acquiring 77,586 shares during the second quarter.
• Avantor's stock has a market capitalization of $9.41 billion and recently opened at $13.80, reflecting a 0.9% increase.
• Despite a slight year-over-year revenue decline of 1.1%, Avantor's quarterly revenue was $1.68 billion, surpassing analyst expectations.

Phraction Management LLC acquired a new stake in Avantor, Inc. (NYSE:AVTR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 77,586 shares of the company's stock, valued at approximately $1,044,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Rise Advisors LLC acquired a new position in Avantor during the first quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Avantor by 288.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,701 shares of the company's stock valued at $28,000 after acquiring an additional 1,263 shares during the period. Wealthquest Corp acquired a new position in shares of Avantor during the 1st quarter valued at $34,000. GAMMA Investing LLC lifted its holdings in shares of Avantor by 121.6% during the 1st 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 in the last quarter. Finally, Fifth Third Bancorp boosted its position in Avantor by 52.0% during the 1st quarter. Fifth Third Bancorp now owns 3,972 shares of the company's stock worth $64,000 after purchasing an additional 1,359 shares during the period. Institutional investors and hedge funds own 95.08% of the company's stock.

Insider Activity at Avantor

In other news, CAO Steven W. Eck sold 3,476 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $11.39, for a total transaction of $39,591.64. Following the sale, the chief accounting officer directly owned 55,068 shares in the company, valued at approximately $627,224.52. This represents a 5.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.20% of the company's stock.

Avantor Stock Up 0.9%

Shares of NYSE:AVTR opened at $13.80 on Friday. The company's fifty day moving average is $12.75 and its two-hundred day moving average is $13.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.67 and a current ratio of 0.98. Avantor, Inc. has a 1-year low of $10.82 and a 1-year high of $26.14. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 4.40 and a beta of 0.98.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on AVTR. Royal Bank Of Canada cut their price objective on Avantor from $20.00 to $17.00 and set an "outperform" rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company lowered their target price on Avantor from $19.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Robert W. Baird reduced their price target on Avantor from $18.00 to $15.00 and set an "outperform" rating on the stock in a research report on Monday, August 4th. JPMorgan Chase & Co. decreased their price target on Avantor from $17.00 to $14.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Finally, Morgan Stanley lowered their price objective on shares of Avantor from $15.00 to $12.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, Avantor presently has a consensus rating of "Hold" and an average target price of $15.65.

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.

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