Stanley Capital Management LLC Has $16.19 Million Stock Holdings in Avantor, Inc. $AVTR

Key Points

• Stanley Capital Management LLC increased its holdings in Avantor, Inc. by 42.9%, acquiring an additional 300,000 shares, bringing their total to 998,500 shares valued at approximately $16.19 million.
• In the first quarter, several hedge funds, including 1832 Asset Management L.P. and Invesco Ltd., significantly increased their stakes in Avantor, highlighting a trend of institutional investment in the company.
• Avantor recently reported earnings per share (EPS) of $0.24, missing analysts' expectations by $0.01, with a revenue of $1.68 billion for the quarter, down 1.1% from the previous year.

Stanley Capital Management LLC lifted its position in Avantor, Inc. (NYSE:AVTR - Free Report) by 42.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 998,500 shares of the company's stock after acquiring an additional 300,000 shares during the period. Avantor makes up approximately 3.2% of Stanley Capital Management LLC's holdings, making the stock its 13th biggest holding. Stanley Capital Management LLC owned 0.15% of Avantor worth $16,186,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AVTR. 1832 Asset Management L.P. raised its position in shares of Avantor by 89.8% in the 1st quarter. 1832 Asset Management L.P. now owns 18,127,204 shares of the company's stock valued at $293,842,000 after acquiring an additional 8,578,493 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Avantor by 53.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 14,034,699 shares of the company's stock valued at $227,502,000 after acquiring an additional 4,876,524 shares during the period. Invesco Ltd. raised its position in shares of Avantor by 19.3% in the 1st quarter. Invesco Ltd. now owns 11,669,411 shares of the company's stock valued at $189,161,000 after acquiring an additional 1,884,273 shares during the period. KBC Group NV raised its position in shares of Avantor by 483.7% in the 1st quarter. KBC Group NV now owns 1,823,686 shares of the company's stock valued at $29,562,000 after acquiring an additional 1,511,255 shares during the period. Finally, Clarkston Capital Partners LLC raised its position in shares of Avantor by 17.8% in the 1st quarter. Clarkston Capital Partners LLC now owns 9,591,950 shares of the company's stock valued at $155,486,000 after acquiring an additional 1,446,125 shares during the period. 95.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Avantor

In other news, CAO Steven W. Eck sold 3,476 shares of Avantor stock in a transaction 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 completion of the sale, the chief accounting officer owned 55,068 shares of the company's stock, valued at approximately $627,224.52. This trade represents a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Avantor Trading Up 3.2%

NYSE AVTR opened at $13.02 on Friday. The company has a market cap of $8.87 billion, a PE ratio of 13.15, a PEG ratio of 1.43 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.67 and a debt-to-equity ratio of 0.48. Avantor, Inc. has a 12 month low of $10.82 and a 12 month high of $27.83. The stock has a 50 day moving average of $13.02 and a 200-day moving average of $13.96.

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

Wall Street Analyst Weigh In

Several analysts have commented on AVTR shares. Wells Fargo & Company dropped their target price on shares of Avantor from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Jefferies Financial Group restated a "hold" rating on shares of Avantor in a report on Friday, August 1st. Raymond James Financial set a $14.00 target price on shares of Avantor and gave the stock an "outperform" rating in a report on Monday, August 4th. Barclays restated an "overweight" rating and set a $13.00 target price (down from $15.00) on shares of Avantor in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Avantor from $17.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $15.50.

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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