Avantor (NYSE:AVTR) Announces Quarterly Earnings Results

Avantor (NYSE:AVTR) released its quarterly earnings data on Friday. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01, reports. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Avantor had a return on equity of 12.40% and a net margin of 5.28%.

Avantor Trading Down 3.6 %

AVTR opened at $22.43 on Friday. The stock has a market capitalization of $15.24 billion, a price-to-earnings ratio of 57.51, a P/E/G ratio of 2.93 and a beta of 1.33. The company has a quick ratio of 1.05, a current ratio of 1.59 and a debt-to-equity ratio of 0.89. Avantor has a twelve month low of $16.63 and a twelve month high of $28.00. The company has a 50-day simple moving average of $25.49 and a 200 day simple moving average of $24.26.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AVTR shares. Wells Fargo & Company initiated coverage on Avantor in a report on Tuesday, August 27th. They set an “overweight” rating and a $30.00 price target for the company. Barclays reduced their target price on shares of Avantor from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $34.00 price target on shares of Avantor in a report on Thursday, September 26th. Morgan Stanley boosted their price objective on Avantor from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Robert W. Baird increased their target price on Avantor from $26.00 to $27.00 and gave the stock an “outperform” 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. According to data from MarketBeat, Avantor presently has an average rating of “Moderate Buy” and a consensus target price of $27.79.

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 shares were sold at an average price of $25.06, for a total transaction of $88,336.50. Following the completion of the sale, the chief accounting officer now owns 29,544 shares of the company’s stock, valued at approximately $740,372.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in Avantor by 2,003.6% in the second quarter. Versant Capital Management Inc now owns 1,157 shares of the company’s stock valued at $25,000 after acquiring an additional 1,102 shares during the last quarter. Blue Trust Inc. increased its stake in Avantor by 1,830.3% in the second quarter. Blue Trust Inc. now owns 1,467 shares of the company’s stock valued at $31,000 after acquiring an additional 1,391 shares during the last quarter. UMB Bank n.a. bought a new position in Avantor in the third quarter valued at approximately $49,000. Nisa Investment Advisors LLC increased its stake in Avantor by 69.6% in the third quarter. Nisa Investment Advisors LLC now owns 2,035 shares of the company’s stock valued at $53,000 after acquiring an additional 835 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Avantor by 89.9% in the third quarter. GAMMA Investing LLC now owns 2,715 shares of the company’s stock valued at $70,000 after acquiring an additional 1,285 shares during the last quarter. 95.08% of the stock is owned by institutional investors.

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.