Norges Bank bought a new stake in shares of Avantor, Inc. (NYSE:AVTR – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,398,087 shares of the company’s stock, valued at approximately $73,322,000.
Other hedge funds have also recently modified their holdings of the company. Natixis Advisors LLC grew its stake in shares of Avantor by 124.8% during the third quarter. Natixis Advisors LLC now owns 1,907,077 shares of the company’s stock valued at $23,800,000 after buying an additional 1,058,617 shares during the last quarter. Quantbot Technologies LP grew its stake in Avantor by 1,333.0% in the third quarter. Quantbot Technologies LP now owns 246,494 shares of the company’s stock worth $3,076,000 after purchasing an additional 229,293 shares in the last quarter. Greenhaven Associates Inc. grew its stake in Avantor by 12.0% in the fourth quarter. Greenhaven Associates Inc. now owns 20,500,653 shares of the company’s stock worth $234,937,000 after purchasing an additional 2,189,083 shares in the last quarter. London Co. of Virginia bought a new position in Avantor in the third quarter worth approximately $159,669,000. Finally, Invesco Ltd. grew its stake in Avantor by 0.8% in the third quarter. Invesco Ltd. now owns 16,053,368 shares of the company’s stock worth $200,346,000 after purchasing an additional 119,508 shares in the last quarter. Institutional investors own 95.08% of the company’s stock.
Insider Activity
In other Avantor news, Director Sanjeev K. Mehra acquired 125,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average price of $8.01 per share, for a total transaction of $1,001,250.00. Following the acquisition, the director owned 475,000 shares in the company, valued at approximately $3,804,750. This trade represents a 35.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory T. Lucier acquired 10,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average price of $8.32 per share, with a total value of $83,200.00. Following the acquisition, the director owned 60,000 shares in the company, valued at approximately $499,200. The trade was a 20.00% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 160,000 shares of company stock worth $1,287,950. Insiders own 0.28% of the company’s stock.
Avantor Stock Performance
Avantor (NYSE:AVTR – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. Avantor had a positive return on equity of 9.95% and a negative net margin of 8.42%.The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the business posted $0.23 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts predict that Avantor, Inc. will post 0.79 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research analysts recently issued reports on AVTR shares. Wells Fargo & Company dropped their price objective on Avantor from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Citigroup dropped their price objective on Avantor from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Barclays dropped their price objective on Avantor from $8.50 to $7.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 14th. Wolfe Research cut Avantor to an “underperform” rating and set a $7.00 price objective on the stock. in a research note on Monday, June 1st. Finally, Royal Bank Of Canada started coverage on Avantor in a research note on Thursday, May 14th. They issued a “sector perform” rating and a $9.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Avantor currently has an average rating of “Reduce” and a consensus price target of $10.57.
Read Our Latest Research Report on AVTR
About Avantor
Avantor, Inc (NYSE:AVTR) is a global provider of mission-critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. The company delivers essential solutions that support research, development, production and safety applications. Its product portfolio spans from high-purity chemicals and reagents to biologics and cell culture media, as well as lab equipment, consumables and custom manufacturing services.
Avantor’s offerings are organized across two primary segments.
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