TD Asset Management Inc Trims Holdings in Avantor, Inc. $AVTR

Key Points

• TD Asset Management Inc. reduced its stake in Avantor, Inc. by 2.8% to approximately 3.37 million shares, valued at $45.3 million.
• Several other institutional investors increased their positions in Avantor, including Dodge & Cox, which raised its stake by 1.1% to 100.26 million shares.
• Wall Street analysts have adjusted price targets for Avantor, with Evercore ISI lowering its target from $18 to $16 while maintaining an "outperform" rating.

TD Asset Management Inc trimmed its stake in Avantor, Inc. (NYSE:AVTR - Free Report) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,367,445 shares of the company's stock after selling 98,787 shares during the period. TD Asset Management Inc owned about 0.49% of Avantor worth $45,326,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dodge & Cox raised its stake in shares of Avantor by 1.1% in the 1st quarter. Dodge & Cox now owns 100,262,723 shares of the company's stock valued at $1,625,259,000 after acquiring an additional 1,116,953 shares during the period. Vanguard Group Inc. raised its stake in shares of Avantor by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 64,952,926 shares of the company's stock valued at $1,052,887,000 after acquiring an additional 983,172 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Avantor by 1.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 41,969,199 shares of the company's stock valued at $680,321,000 after acquiring an additional 608,806 shares during the period. 1832 Asset Management L.P. raised its stake 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. Finally, The Manufacturers Life Insurance Company raised its stake 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. 95.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AVTR shares. Evercore ISI dropped their price objective on shares of Avantor from $18.00 to $16.00 and set an "outperform" rating for the company in a report on Monday, August 4th. Royal Bank Of Canada dropped their price objective on shares of Avantor from $20.00 to $17.00 and set an "outperform" rating for the company in a report on Monday, August 4th. Wells Fargo & Company dropped their price objective on shares of Avantor from $19.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Raymond James Financial lifted their price objective on shares of Avantor from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Robert W. Baird dropped their price objective on shares of Avantor from $18.00 to $15.00 and set an "outperform" rating for the company in a report on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $15.81.

Avantor Trading Up 5.1%

NYSE AVTR opened at $14.58 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. Avantor, Inc. has a 52 week low of $10.82 and a 52 week high of $26.14. The stock has a market capitalization of $9.94 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 4.52 and a beta of 0.98. The firm has a 50 day moving average of $13.00 and a two-hundred day moving average of $13.37.

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). Avantor had a return on equity of 11.39% and a net margin of 10.31%.The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm earned $0.25 EPS. The company's revenue was down 1.1% on a year-over-year basis. As a group, research analysts expect that Avantor, Inc. will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Avantor news, CAO Steven W. Eck sold 3,476 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $11.39, for a total transaction of $39,591.64. Following the completion of the transaction, the chief accounting officer owned 55,068 shares in the company, valued at $627,224.52. The trade was a 5.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is owned by company 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.

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