Rhumbline Advisers Increases Stock Holdings in Avantor, Inc. (NYSE:AVTR)

Rhumbline Advisers lifted its stake in shares of Avantor, Inc. (NYSE:AVTR) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 785,294 shares of the company’s stock after acquiring an additional 4,754 shares during the period. Rhumbline Advisers’ holdings in Avantor were worth $16,648,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AVTR. Norges Bank purchased a new stake in shares of Avantor during the 4th quarter valued at about $156,455,000. CCLA Investment Management raised its holdings in shares of Avantor by 147,220.3% during the 1st quarter. CCLA Investment Management now owns 4,720,144 shares of the company’s stock valued at $120,828,000 after buying an additional 4,716,940 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Avantor during the 4th quarter valued at about $93,433,000. Avidity Partners Management LP purchased a new stake in shares of Avantor during the 4th quarter valued at about $48,442,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Avantor during the 1st quarter valued at about $35,154,000. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Avantor Trading Up 1.0 %

NYSE:AVTR opened at $25.80 on Tuesday. Avantor, Inc. has a 12-month low of $16.63 and a 12-month high of $28.00. The firm has a market capitalization of $17.54 billion, a P/E ratio of 66.15, a P/E/G ratio of 2.61 and a beta of 1.32. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.59 and a quick ratio of 1.05. The business has a 50 day simple moving average of $23.96 and a 200 day simple moving average of $24.21.

Avantor (NYSE:AVTR) last released its quarterly earnings data on Friday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Avantor had a return on equity of 12.40% and a net margin of 5.28%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. Equities research analysts predict that Avantor, Inc. will post 1.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Stifel Nicolaus raised their price objective on Avantor from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Barclays raised their price objective on Avantor from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Avantor in a research note on Monday, July 29th. TD Cowen raised their price objective on Avantor from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Citigroup lowered Avantor from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $30.00 to $23.00 in a research note on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Avantor currently has an average rating of “Moderate Buy” and an average price target of $27.40.

Insider Activity at Avantor

In related news, CAO Steven W. Eck sold 3,525 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $25.06, for a total transaction of $88,336.50. Following the completion of the transaction, the chief accounting officer now owns 29,544 shares in the company, valued at approximately $740,372.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

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.