Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Avantor, Inc. (NYSE:AVTR – Get Rating) by 22.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,823 shares of the company's stock after acquiring an additional 7,013 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Avantor were worth $1,207,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Avantor by 0.9% during the first quarter. Vanguard Group Inc. now owns 50,759,035 shares of the company's stock valued at $1,716,671,000 after buying an additional 439,147 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Avantor by 9.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 24,950,296 shares of the company's stock valued at $1,051,405,000 after buying an additional 2,251,340 shares during the last quarter. Boston Partners raised its position in shares of Avantor by 4.3% during the first quarter. Boston Partners now owns 19,771,940 shares of the company's stock valued at $668,176,000 after buying an additional 806,442 shares during the last quarter. Parnassus Investments LLC raised its position in shares of Avantor by 20.6% during the first quarter. Parnassus Investments LLC now owns 7,112,960 shares of the company's stock valued at $240,560,000 after buying an additional 1,213,183 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Avantor during the fourth quarter valued at approximately $248,301,000. Institutional investors own 81.22% of the company's stock.
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Analysts Set New Price Targets
Several research firms have recently issued reports on AVTR. Stifel Nicolaus reduced their price objective on shares of Avantor from $35.00 to $28.00 in a research report on Monday, September 19th. Evercore ISI cut their target price on shares of Avantor to $35.00 in a report on Tuesday, August 9th. Morgan Stanley cut their target price on shares of Avantor from $40.00 to $37.00 and set an "overweight" rating for the company in a report on Monday, August 1st. Credit Suisse Group began coverage on shares of Avantor in a report on Wednesday, August 24th. They issued a "neutral" rating and a $32.00 target price for the company. Finally, Robert W. Baird cut their target price on shares of Avantor from $44.00 to $34.00 and set an "outperform" rating for the company in a report on Monday, August 1st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $33.43.
Avantor Stock Down 1.7 %
NYSE AVTR opened at $20.60 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.64 and a debt-to-equity ratio of 1.41. The company has a fifty day moving average of $26.69 and a two-hundred day moving average of $29.98. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 1.87 and a beta of 1.34. Avantor, Inc. has a 52 week low of $20.34 and a 52 week high of $44.06.
Avantor (NYSE:AVTR – Get Rating) last issued its earnings results on Thursday, July 28th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.98 billion. Avantor had a net margin of 8.27% and a return on equity of 27.14%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share. On average, analysts predict that Avantor, Inc. will post 1.45 earnings per share for the current year.
Avantor Profile
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Avantor, Inc provides products and services to customers in 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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