Brokers Issue Forecasts for Avantor, Inc.'s FY2024 Earnings (NYSE:AVTR)

Avantor, Inc. (NYSE:AVTR - Free Report) - Stock analysts at William Blair increased their FY2024 EPS estimates for Avantor in a note issued to investors on Monday, April 29th. William Blair analyst M. Larew now forecasts that the company will post earnings per share of $1.02 for the year, up from their previous estimate of $1.01. The consensus estimate for Avantor's current full-year earnings is $1.01 per share.

Several other equities analysts also recently weighed in on AVTR. JPMorgan Chase & Co. raised their price target on shares of Avantor from $26.00 to $29.00 and gave the stock an "overweight" rating in a research note on Thursday, February 15th. Raymond James lifted their target price on shares of Avantor from $22.50 to $26.00 and gave the stock an "outperform" rating in a research note on Friday, January 26th. Evercore ISI lifted their target price on shares of Avantor from $26.00 to $28.00 and gave the stock an "outperform" rating in a research note on Thursday, April 4th. Royal Bank of Canada lifted their target price on shares of Avantor from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Thursday, February 15th. Finally, UBS Group lifted their price target on shares of Avantor from $25.00 to $29.00 and gave the company a "buy" rating in a research report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $26.71.

Avantor Price Performance

Shares of NYSE:AVTR traded up $0.18 during midday trading on Wednesday, hitting $24.42. The company's stock had a trading volume of 4,477,540 shares, compared to its average volume of 5,817,224. The business's 50 day simple moving average is $25.09 and its 200 day simple moving average is $22.69. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.05 and a current ratio of 1.61. The company has a market cap of $16.58 billion, a P/E ratio of 62.60, a price-to-earnings-growth ratio of 1.47 and a beta of 1.37. Avantor has a 12-month low of $16.63 and a 12-month high of $26.16.

Avantor (NYSE:AVTR - Get Free Report) last announced its earnings results on Friday, April 26th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. Avantor had a net margin of 3.79% and a return on equity of 13.01%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business earned $0.29 earnings per share. The company's revenue for the quarter was down 5.6% compared to the same quarter last year.

Institutional Trading of Avantor

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates raised its position in Avantor by 84.8% in the 4th quarter. Raymond James & Associates now owns 1,165,646 shares of the company's stock valued at $26,612,000 after purchasing an additional 534,901 shares during the last quarter. Federated Hermes Inc. raised its position in Avantor by 19.9% in the 4th quarter. Federated Hermes Inc. now owns 628,189 shares of the company's stock valued at $14,342,000 after purchasing an additional 104,296 shares during the last quarter. DAVENPORT & Co LLC raised its position in Avantor by 17.6% during the 4th quarter. DAVENPORT & Co LLC now owns 2,283,767 shares of the company's stock worth $52,430,000 after buying an additional 342,452 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Avantor by 8.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,508,557 shares of the company's stock worth $57,269,000 after buying an additional 194,031 shares during the last quarter. Finally, Northern Trust Corp raised its position in Avantor by 9.0% during the 3rd quarter. Northern Trust Corp now owns 4,129,447 shares of the company's stock worth $87,049,000 after buying an additional 342,553 shares during the last quarter. Hedge funds and other institutional investors own 95.08% of the company's stock.

Insiders Place Their Bets

In other news, EVP James Bramwell sold 6,203 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $24.49, for a total transaction of $151,911.47. Following the completion of the sale, the executive vice president now owns 101,143 shares in the company, valued at approximately $2,476,992.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

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.