Twin Tree Management LP Has $3.01 Million Holdings in Avantor, Inc. $AVTR

Key Points

• Twin Tree Management LP significantly increased its stake in Avantor, Inc. by 461.7% in Q1, acquiring 152,371 additional shares to reach a total of 185,371 shares valued at approximately $3,005,000.
• Analysts have set target prices for Avantor, with Raymond James estimating a price of $14.00 and Barclays reducing theirs from $15.00 to $13.00, reflecting a mixed outlook on the stock.
• Avantor reported earnings of $0.24 per share for the latest quarter, missing analyst expectations, and noted a 1.1% decrease in revenue year-over-year.

Twin Tree Management LP grew its stake in shares of Avantor, Inc. (NYSE:AVTR - Free Report) by 461.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185,371 shares of the company's stock after purchasing an additional 152,371 shares during the quarter. Twin Tree Management LP's holdings in Avantor were worth $3,005,000 as of its most recent SEC filing.

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

Insider Activity

In other 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.

Avantor Price Performance

Shares of NYSE AVTR traded up $0.11 during midday trading on Friday, reaching $13.30. The company's stock had a trading volume of 7,671,237 shares, compared to its average volume of 11,468,922. The company has a current ratio of 0.98, a quick ratio of 0.67 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average price of $13.09 and a 200 day moving average price of $14.09. Avantor, Inc. has a one year low of $10.82 and a one year high of $27.83. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.50 and a beta of 0.98.

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays reissued an "overweight" rating and set a $13.00 target price (down previously from $15.00) on shares of Avantor in a research note on Monday, August 4th. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. decreased their price objective on shares of Avantor from $17.00 to $14.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Morgan Stanley decreased their price objective on shares of Avantor from $15.00 to $12.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. Finally, Stifel Nicolaus set a $12.00 price objective on shares of Avantor and gave the company a "hold" rating in a report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $15.50.

Avantor Company Profile

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.