Rhumbline Advisers Has $30.66 Million Position in Avantor, Inc. (NYSE:AVTR)

Rhumbline Advisers lowered its holdings in Avantor, Inc. (NYSE:AVTR - Free Report) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,891,138 shares of the company's stock after selling 31,230 shares during the period. Rhumbline Advisers owned about 0.28% of Avantor worth $30,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System grew its position in Avantor by 0.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 188,900 shares of the company's stock valued at $3,980,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. grew its position in Avantor by 6.9% in the fourth quarter. Blue Trust Inc. now owns 8,069 shares of the company's stock valued at $170,000 after purchasing an additional 522 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Avantor by 10.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company's stock valued at $132,000 after purchasing an additional 592 shares in the last quarter. American Trust grew its position in Avantor by 4.5% in the fourth quarter. American Trust now owns 15,198 shares of the company's stock valued at $320,000 after purchasing an additional 658 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in Avantor by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 138,465 shares of the company's stock valued at $2,917,000 after purchasing an additional 765 shares in the last quarter. Institutional investors own 95.08% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. 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. Morgan Stanley downgraded shares of Avantor from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, April 29th. Stifel Nicolaus downgraded shares of Avantor from a "buy" rating to a "hold" rating and decreased their price objective for the company from $26.00 to $14.00 in a research report on Monday, April 28th. TD Cowen downgraded shares of Avantor from a "buy" rating to a "hold" rating and set a $15.50 price objective for the company. in a research report on Monday, April 28th. Finally, The Goldman Sachs Group downgraded shares of Avantor from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $23.00 to $14.00 in a research report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Avantor has an average rating of "Hold" and an average price target of $18.88.

Avantor Stock Performance

Shares of NYSE AVTR traded up $0.13 during mid-day trading on Friday, reaching $13.08. 14,864,392 shares of the company were exchanged, compared to its average volume of 8,149,491. The company's 50-day simple moving average is $13.77 and its 200-day simple moving average is $17.66. The company has a quick ratio of 0.70, a current ratio of 1.07 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $8.91 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.55 and a beta of 1.04. Avantor, Inc. has a twelve month low of $11.82 and a twelve month high of $28.00.

Avantor (NYSE:AVTR - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Avantor had a net margin of 10.49% and a return on equity of 12.17%. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the previous year, the company earned $0.22 EPS. The business's revenue was down 5.9% on a year-over-year basis. As a group, research analysts predict that Avantor, Inc. will post 1.06 earnings per share for the current year.

Insiders Place Their Bets

In other Avantor news, Director Joseph R. Massaro acquired 8,100 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was acquired at an average price of $12.30 per share, for a total transaction of $99,630.00. Following the purchase, the director now directly owns 35,038 shares of the company's stock, valued at $430,967.40. This trade represents a 30.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory L. Summe acquired 20,000 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $12.65 per share, with a total value of $253,000.00. Following the purchase, the director now directly owns 70,000 shares in the company, valued at approximately $885,500. This represents a 40.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 83,100 shares of company stock worth $1,027,630 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

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.