Private Management Group Inc. Purchases 364,239 Shares of Avantor, Inc. $AVTR

Key Points

• Private Management Group increased its Avantor stake by 13.3% in the second quarter, purchasing 364,239 additional shares and ending with 3.10 million shares worth approximately $30.7 million.
• Institutional ownership remains high at 95.08%, with major investors including BlackRock, Wellington Management, Engine Capital and Morgan Stanley recently adding or initiating positions.
• Avantor exceeded quarterly earnings and revenue expectations, reporting $0.21 in EPS and $1.69 billion in revenue. Analysts maintain a consensus “Hold” rating with an average price target of $12, below the stock’s reported $14.60 opening price.

Private Management Group Inc. grew its position in Avantor, Inc. (NYSE:AVTR - Free Report) by 13.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,097,234 shares of the company's stock after purchasing an additional 364,239 shares during the period. Private Management Group Inc. owned about 0.46% of Avantor worth $30,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVTR. BlackRock Inc. bought a new stake in shares of Avantor in the 2nd quarter valued at $695,784,000. Wellington Management Group LLP bought a new position in Avantor during the fourth quarter worth about $268,584,000. Engine Capital Management LP lifted its holdings in Avantor by 65.8% during the first quarter. Engine Capital Management LP now owns 19,780,830 shares of the company's stock worth $155,082,000 after acquiring an additional 7,853,018 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Avantor during the second quarter worth about $195,386,000. Finally, Morgan Stanley grew its stake in Avantor by 179.4% in the fourth quarter. Morgan Stanley now owns 17,468,418 shares of the company's stock valued at $200,188,000 after acquiring an additional 11,216,565 shares during the period. 95.08% of the stock is owned by institutional investors.

Avantor Price Performance

AVTR stock opened at $14.60 on Friday. The stock has a 50-day moving average price of $12.12 and a two-hundred day moving average price of $9.77. The stock has a market cap of $9.87 billion, a PE ratio of -17.38, a price-to-earnings-growth ratio of 11.00 and a beta of 0.89. The company has a current ratio of 1.78, a quick ratio of 1.18 and a debt-to-equity ratio of 0.65. Avantor, Inc. has a 1 year low of $7.26 and a 1 year high of $15.93.

Avantor (NYSE:AVTR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.61 billion. Avantor had a positive return on equity of 9.92% and a negative net margin of 8.81%.The company's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. Avantor has set its FY 2026 guidance at 0.800-0.830 EPS. Equities analysts forecast that Avantor, Inc. will post 0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Stifel Nicolaus raised their price target on Avantor from $8.00 to $15.00 and gave the stock a "hold" rating in a research report on Thursday, July 30th. Wall Street Zen upgraded Avantor from a "hold" rating to a "buy" rating in a report on Saturday, June 27th. Sanford C. Bernstein assumed coverage on Avantor in a research report on Friday, June 26th. They issued a "market perform" rating and a $10.50 price objective for the company. Jefferies Financial Group raised Avantor from an "underperform" rating to a "hold" rating and set a $13.00 target price for the company in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company raised their target price on shares of Avantor from $14.00 to $16.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Avantor currently has a consensus rating of "Hold" and an average price target of $12.00.

Avantor Company Profile

Avantor, Inc NYSE: AVTR is a global provider of mission-critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. The company delivers essential solutions that support research, development, production and safety applications. Its product portfolio spans from high-purity chemicals and reagents to biologics and cell culture media, as well as lab equipment, consumables and custom manufacturing services.

Avantor's offerings are organized across two primary segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source