Raymond James & Associates Reduces Position in Avantor, Inc. (NYSE:AVTR)

Raymond James & Associates trimmed its holdings in Avantor, Inc. (NYSE:AVTR) by 5.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,021,855 shares of the company’s stock after selling 60,284 shares during the period. Raymond James & Associates’ holdings in Avantor were worth $26,435,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Graypoint LLC increased its stake in Avantor by 3.8% in the first quarter. Graypoint LLC now owns 11,414 shares of the company’s stock worth $292,000 after purchasing an additional 423 shares during the period. Intech Investment Management LLC grew its holdings in shares of Avantor by 1.8% in the second quarter. Intech Investment Management LLC now owns 29,068 shares of the company’s stock worth $616,000 after purchasing an additional 514 shares during the last quarter. Arizona State Retirement System increased its stake in Avantor by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 186,567 shares of the company’s stock worth $3,955,000 after buying an additional 528 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Avantor by 2.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,921 shares of the company’s stock valued at $571,000 after buying an additional 733 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its position in Avantor by 3.3% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 23,623 shares of the company’s stock valued at $611,000 after buying an additional 749 shares during the period. 95.08% of the stock is owned by institutional investors.

Avantor Stock Performance

Shares of AVTR opened at $23.28 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.05 and a debt-to-equity ratio of 0.89. The firm has a market cap of $15.81 billion, a PE ratio of 59.69, a P/E/G ratio of 2.93 and a beta of 1.33. Avantor, Inc. has a 12 month low of $16.63 and a 12 month high of $28.00. The stock has a fifty day moving average price of $25.59 and a 200-day moving average price of $24.30.

Avantor (NYSE:AVTR) last released its quarterly earnings results on Friday, July 26th. The company reported $0.25 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 company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Equities research analysts predict that Avantor, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Activity at Avantor

In other Avantor news, CAO Steven W. Eck sold 3,525 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $25.06, for a total value of $88,336.50. Following the completion of the transaction, the chief accounting officer now owns 29,544 shares of the company’s stock, valued at approximately $740,372.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of Avantor from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and set a $34.00 price target on shares of Avantor in a research note on Thursday, September 26th. Robert W. Baird upped their price objective on shares of Avantor from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Stifel Nicolaus boosted their price target on shares of Avantor from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Morgan Stanley increased their price objective on shares of Avantor from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

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.