Quarry LP Purchases 6,195 Shares of Avantor, Inc. (NYSE:AVTR)

Quarry LP increased its holdings in shares of Avantor, Inc. (NYSE:AVTR) by 4,489.1% during the second quarter, Holdings Channel reports. The fund owned 6,333 shares of the company’s stock after purchasing an additional 6,195 shares during the period. Quarry LP’s holdings in Avantor were worth $134,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVTR. Jennison Associates LLC lifted its holdings in Avantor by 113.0% during the 1st quarter. Jennison Associates LLC now owns 2,497,349 shares of the company’s stock worth $63,857,000 after buying an additional 1,325,026 shares in the last quarter. Swedbank AB bought a new position in Avantor in the first quarter valued at about $2,707,000. Diversify Advisory Services LLC acquired a new stake in Avantor in the first quarter worth about $908,000. CenterBook Partners LP acquired a new stake in Avantor in the fourth quarter worth about $4,562,000. Finally, Blue Door Asset Management LLC raised its holdings in Avantor by 29.6% during the 4th quarter. Blue Door Asset Management LLC now owns 402,399 shares of the company’s stock worth $9,187,000 after purchasing an additional 92,000 shares during the last quarter. 95.08% of the stock is owned by institutional investors and hedge funds.

Avantor Price Performance

NYSE AVTR opened at $25.42 on Wednesday. The firm’s 50 day moving average is $25.73 and its 200-day moving average is $24.38. The company has a quick ratio of 1.05, a current ratio of 1.59 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $17.27 billion, a PE ratio of 65.18, a price-to-earnings-growth ratio of 2.71 and a beta of 1.32. Avantor, Inc. has a 12-month low of $16.63 and a 12-month high of $28.00.

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

Insider Buying and Selling

In other Avantor 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 transaction, the chief accounting officer now owns 29,544 shares of the company’s stock, valued at approximately $740,372.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AVTR. Wells Fargo & Company started coverage on shares of Avantor in a report on Tuesday, August 27th. They issued an “overweight” rating and a $30.00 price objective on the stock. Citigroup downgraded Avantor from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $30.00 to $23.00 in a report on Wednesday, July 10th. Evercore ISI reduced their target price on Avantor from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Morgan Stanley lifted their price objective on shares of Avantor from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, TD Cowen upped their target price on shares of Avantor from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $28.00.

Avantor 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.