1832 Asset Management L.P. Cuts Stock Holdings in Avantor, Inc. $AVTR

1832 Asset Management L.P. lowered its stake in Avantor, Inc. (NYSE:AVTR) by 75.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,511,834 shares of the company’s stock after selling 13,615,370 shares during the period. 1832 Asset Management L.P.’s holdings in Avantor were worth $60,729,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Truist Financial Corp grew its position in Avantor by 2.2% during the 2nd quarter. Truist Financial Corp now owns 44,325 shares of the company’s stock worth $597,000 after acquiring an additional 959 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Avantor by 2.7% during the second quarter. SG Americas Securities LLC now owns 37,078 shares of the company’s stock valued at $499,000 after purchasing an additional 979 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of Avantor by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 191,700 shares of the company’s stock worth $2,580,000 after purchasing an additional 1,000 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in shares of Avantor by 1.4% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 83,661 shares of the company’s stock worth $1,356,000 after buying an additional 1,138 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Avantor by 4.2% during the 2nd quarter. ProShare Advisors LLC now owns 30,213 shares of the company’s stock valued at $407,000 after buying an additional 1,204 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.

Insider Activity

In other Avantor news, Director Gregory L. Summe purchased 100,000 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average cost of $11.25 per share, with a total value of $1,125,000.00. Following the transaction, the director directly owned 300,000 shares in the company, valued at approximately $3,375,000. The trade was a 50.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AVTR shares. UBS Group set a $12.00 price target on shares of Avantor in a report on Thursday, October 30th. Raymond James Financial cut Avantor from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 4th. Barclays restated an “equal weight” rating and set a $12.00 price target (down previously from $15.00) on shares of Avantor in a report on Thursday, October 30th. Evercore ISI dropped their price objective on Avantor from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Finally, Robert W. Baird boosted their target price on Avantor from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.42.

Avantor Stock Down 2.9%

Shares of NYSE:AVTR opened at $11.30 on Thursday. The firm has a market capitalization of $7.70 billion, a P/E ratio of -86.92, a P/E/G ratio of 4.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 1.49. The stock has a 50 day moving average price of $12.69 and a 200-day moving average price of $12.94. Avantor, Inc. has a 52-week low of $10.82 and a 52-week high of $23.32.

Avantor (NYSE:AVTR) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Avantor had a positive return on equity of 10.91% and a negative net margin of 1.25%.Avantor’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. Avantor has set its FY 2025 guidance at 0.880-0.920 EPS. As a group, equities research analysts anticipate that Avantor, Inc. will post 1.06 EPS for the current fiscal year.

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.