3,604,345 Shares in Avantor, Inc. (NYSE:AVTR) Bought by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT bought a new stake in shares of Avantor, Inc. (NYSE:AVTR) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,604,345 shares of the company’s stock, valued at approximately $76,412,000. Avantor comprises about 2.5% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 21st largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of AVTR. Versant Capital Management Inc raised its position in shares of Avantor by 2,003.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,157 shares of the company’s stock worth $25,000 after purchasing an additional 1,102 shares during the period. Blue Trust Inc. grew its stake in Avantor by 1,830.3% during the 2nd quarter. Blue Trust Inc. now owns 1,467 shares of the company’s stock worth $31,000 after buying an additional 1,391 shares during the last quarter. TFO Wealth Partners LLC increased its position in Avantor by 203,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,032 shares of the company’s stock worth $46,000 after buying an additional 2,031 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Avantor in the first quarter valued at $93,000. Finally, ORG Partners LLC boosted its holdings in shares of Avantor by 5,773.0% during the second quarter. ORG Partners LLC now owns 5,873 shares of the company’s stock valued at $122,000 after acquiring an additional 5,773 shares during the period. 95.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AVTR shares. Morgan Stanley increased their price objective on shares of Avantor from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Evercore ISI dropped their price target on shares of Avantor from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Barclays boosted their price objective on Avantor from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Wells Fargo & Company initiated coverage on Avantor in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price target on shares of Avantor in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.40.

Insider Buying and Selling

In other Avantor news, CAO Steven W. Eck sold 3,525 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $25.06, for a total transaction of $88,336.50. Following the sale, the chief accounting officer now directly owns 29,544 shares of the company’s stock, valued at approximately $740,372.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.

Avantor Stock Performance

AVTR opened at $26.99 on Friday. 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 firm has a market cap of $18.33 billion, a PE ratio of 69.21, a P/E/G ratio of 2.75 and a beta of 1.32. The business has a fifty day simple moving average of $25.04 and a 200-day simple moving average of $24.36. Avantor, Inc. has a fifty-two week low of $16.63 and a fifty-two week high of $28.00.

Avantor (NYSE:AVTR) last announced its earnings results on Friday, July 26th. The company reported $0.25 EPS for the quarter, topping 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 company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.70 billion. As a group, equities analysts predict that Avantor, Inc. will post 1.01 EPS for the current fiscal year.

About Avantor

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.