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Sound Shore Management Inc. CT Sells 509,183 Shares of Avantor, Inc. (NYSE:AVTR)

Avantor logo with Medical background

Sound Shore Management Inc. CT trimmed its stake in shares of Avantor, Inc. (NYSE:AVTR - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,172,352 shares of the company's stock after selling 509,183 shares during the quarter. Avantor makes up 2.4% of Sound Shore Management Inc. CT's investment portfolio, making the stock its 26th largest position. Sound Shore Management Inc. CT owned approximately 0.61% of Avantor worth $67,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Avantor by 34.1% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 363,496 shares of the company's stock worth $5,892,000 after purchasing an additional 92,414 shares during the period. HighPoint Advisor Group LLC bought a new position in Avantor in the first quarter worth about $206,000. Allianz Asset Management GmbH lifted its holdings in Avantor by 4.4% in the first quarter. Allianz Asset Management GmbH now owns 45,700 shares of the company's stock worth $741,000 after buying an additional 1,932 shares during the period. Archer Investment Corp bought a new stake in Avantor during the 1st quarter valued at approximately $112,000. Finally, Dynasty Wealth Management LLC grew its holdings in shares of Avantor by 4.8% during the 1st quarter. Dynasty Wealth Management LLC now owns 35,654 shares of the company's stock worth $578,000 after acquiring an additional 1,635 shares during the period. Institutional investors own 95.08% of the company's stock.

Analyst Upgrades and Downgrades

AVTR has been the subject of a number of research analyst reports. Barclays lowered their target price on Avantor from $18.00 to $15.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Robert W. Baird raised their price objective on Avantor from $17.00 to $18.00 and gave the company an "outperform" rating in a research report on Monday. Stifel Nicolaus downgraded shares of Avantor from a "buy" rating to a "hold" rating and reduced their target price for the stock from $26.00 to $14.00 in a research report on Monday, April 28th. TD Cowen cut shares of Avantor from a "buy" rating to a "hold" rating and set a $15.50 price target for the company. in a research report on Monday, April 28th. Finally, Morgan Stanley lowered shares of Avantor from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Avantor presently has a consensus rating of "Hold" and an average price target of $18.23.

Check Out Our Latest Research Report on Avantor

Insider Activity

In other Avantor news, Director Gregory L. Summe acquired 30,000 shares of Avantor stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $12.50 per share, for a total transaction of $375,000.00. Following the acquisition, the director owned 100,000 shares of the company's stock, valued at $1,250,000. This represents a 42.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph R. Massaro acquired 8,100 shares of Avantor stock in a transaction that occurred on Tuesday, April 29th. The stock was acquired at an average price of $12.30 per share, with a total value of $99,630.00. Following the completion of the acquisition, the director directly owned 35,038 shares in the company, valued at $430,967.40. This represents a 30.07% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 83,100 shares of company stock valued at $1,027,630 over the last quarter. 1.20% of the stock is owned by corporate insiders.

Avantor Stock Down 1.0%

AVTR stock traded down $0.14 during midday trading on Monday, hitting $14.08. The company's stock had a trading volume of 4,440,257 shares, compared to its average volume of 10,054,608. The firm's 50-day moving average is $13.34 and its 200-day moving average is $15.70. The company has a current ratio of 1.12, a quick ratio of 0.75 and a debt-to-equity ratio of 0.54. Avantor, Inc. has a 12 month low of $11.82 and a 12 month high of $28.00. The company has a market cap of $9.59 billion, a PE ratio of 13.53, a P/E/G ratio of 1.51 and a beta of 1.05.

Avantor (NYSE:AVTR - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. Avantor had a return on equity of 11.93% and a net margin of 10.70%. The company had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same period last year, the firm posted $0.22 earnings per share. Avantor's revenue was down 5.9% compared to the same quarter last year. On average, equities research analysts forecast that Avantor, Inc. will post 1.06 earnings per share for the current fiscal year.

Avantor Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Avantor (NYSE:AVTR)

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