Brown Brothers Harriman & Co. Reduces Stock Holdings in Avantor, Inc. (NYSE:AVTR)

Brown Brothers Harriman & Co. reduced its holdings in shares of Avantor, Inc. (NYSE:AVTR) by 13.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,913,965 shares of the company’s stock after selling 437,848 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Avantor were worth $75,384,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swedbank AB acquired a new position in shares of Avantor during the first quarter valued at about $2,707,000. Sound Shore Management Inc. CT acquired a new position in Avantor during the 2nd quarter valued at approximately $76,412,000. Seven Eight Capital LP acquired a new position in Avantor during the 2nd quarter valued at approximately $642,000. New York State Teachers Retirement System purchased a new position in shares of Avantor in the third quarter worth $8,473,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Avantor by 35.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,157,855 shares of the company’s stock worth $24,547,000 after buying an additional 300,579 shares during the period. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Avantor Price Performance

Shares of Avantor stock opened at $20.78 on Monday. The firm has a market cap of $14.14 billion, a PE ratio of 45.17, a P/E/G ratio of 2.52 and a beta of 1.35. Avantor, Inc. has a twelve month low of $19.59 and a twelve month high of $28.00. The company has a quick ratio of 1.06, a current ratio of 1.54 and a debt-to-equity ratio of 0.84. The business has a 50-day moving average price of $23.89 and a 200 day moving average price of $23.85.

Analyst Ratings Changes

AVTR has been the subject of a number of research analyst reports. Barclays reduced their target price on Avantor from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company reduced their price objective on Avantor from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Stifel Nicolaus upped their target price on Avantor from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada reissued an “outperform” rating and set a $34.00 price target on shares of Avantor in a research report on Thursday, September 26th. Finally, UBS Group dropped their price objective on shares of Avantor from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.57.

Insider Buying and Selling at Avantor

In other news, CAO Steven W. Eck sold 3,525 shares of the company’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 directly owns 29,544 shares of the company’s stock, valued at $740,372.64. This represents a 10.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

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.