Massachusetts Financial Services Co. MA Reduces Holdings in Avantor, Inc. (NYSE:AVTR)

Massachusetts Financial Services Co. MA reduced its position in Avantor, Inc. (NYSE:AVTR) by 3.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 432,452 shares of the company’s stock after selling 13,994 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Avantor were worth $15,356,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Psagot Investment House Ltd. purchased a new stake in Avantor in the 1st quarter worth approximately $73,000. Captrust Financial Advisors purchased a new stake in Avantor in the 1st quarter worth approximately $96,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Avantor in the 1st quarter worth approximately $120,000. Rockefeller Capital Management L.P. purchased a new stake in Avantor in the 2nd quarter worth approximately $150,000. Finally, O Shaughnessy Asset Management LLC grew its stake in Avantor by 447.0% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 4,513 shares of the company’s stock worth $160,000 after acquiring an additional 3,688 shares during the period. 90.20% of the stock is owned by hedge funds and other institutional investors.

NYSE:AVTR opened at $37.20 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.15 and a debt-to-equity ratio of 2.83. The firm has a market capitalization of $21.73 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 1.15 and a beta of 1.68. The firm’s fifty day simple moving average is $40.42 and its 200 day simple moving average is $35.82. Avantor, Inc. has a twelve month low of $22.49 and a twelve month high of $44.37.

Avantor (NYSE:AVTR) last issued its quarterly earnings data on Thursday, July 29th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Avantor had a net margin of 4.47% and a return on equity of 44.55%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.73 billion. On average, analysts predict that Avantor, Inc. will post 1.35 earnings per share for the current year.

In other news, CEO Michael Stubblefield sold 141,300 shares of the company’s stock in a transaction dated Monday, September 20th. The shares were sold at an average price of $42.37, for a total value of $5,986,881.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Steven W. Eck sold 17,383 shares of the company’s stock in a transaction dated Thursday, August 26th. The shares were sold at an average price of $40.08, for a total transaction of $696,710.64. The disclosure for this sale can be found here. Insiders sold a total of 545,920 shares of company stock worth $21,750,831 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Several analysts have commented on AVTR shares. Credit Suisse Group lifted their target price on shares of Avantor from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, September 10th. Zacks Investment Research raised shares of Avantor from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Friday, September 10th. Barclays boosted their price objective on shares of Avantor from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, August 2nd. Raymond James started coverage on shares of Avantor in a research note on Monday, August 30th. They set an “outperform” rating and a $45.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on shares of Avantor from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 10th. Fifteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $43.06.

Avantor Profile

Avantor, Inc is a provider of mission critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. It sells materials & consumables, equipment & instrumentation and services & specialty procurement. It operates through the following segments: the Americas, Europe, and AMEA.

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Institutional Ownership by Quarter for Avantor (NYSE:AVTR)

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