Avantor (NYSE:AVTR) Reaches New 1-Year High at $35.24

Avantor, Inc. (NYSE:AVTR)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $35.24 and last traded at $35.13, with a volume of 7655 shares changing hands. The stock had previously closed at $34.91.

Several equities research analysts have recently commented on AVTR shares. The Goldman Sachs Group started coverage on shares of Avantor in a report on Friday, June 4th. They issued a “buy” rating and a $40.00 price target for the company. Raymond James boosted their price objective on shares of Avantor from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, April 29th. Barclays initiated coverage on shares of Avantor in a research report on Monday, March 8th. They set an “overweight” rating and a $33.00 target price on the stock. Piper Sandler boosted their target price on shares of Avantor from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, April 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Avantor from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, April 29th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $35.29.

The business has a 50-day simple moving average of $32.19. The company has a market cap of $20.47 billion, a P/E ratio of 121.24, a price-to-earnings-growth ratio of 1.41 and a beta of 1.79. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 2.56.

Avantor (NYSE:AVTR) last issued its earnings results on Tuesday, April 27th. The company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.07. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Avantor had a net margin of 3.51% and a return on equity of 41.17%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. On average, equities research analysts forecast that Avantor, Inc. will post 1.26 earnings per share for the current fiscal year.

In other Avantor news, EVP Devashish Ohri sold 100,160 shares of the stock in a transaction dated Monday, April 12th. The shares were sold at an average price of $32.37, for a total transaction of $3,242,179.20. Following the completion of the transaction, the executive vice president now owns 118,679 shares of the company’s stock, valued at $3,841,639.23. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Stubblefield sold 235,170 shares of the stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $32.03, for a total transaction of $7,532,495.10. Following the transaction, the chief executive officer now directly owns 1,555,924 shares of the company’s stock, valued at approximately $49,836,245.72. The disclosure for this sale can be found here. Insiders sold 3,492,284 shares of company stock valued at $108,178,090 over the last quarter. Company insiders own 2.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in Avantor by 2.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 69,090,582 shares of the company’s stock worth $1,998,791,000 after buying an additional 1,926,733 shares during the period. BlackRock Inc. boosted its stake in shares of Avantor by 9.9% in the first quarter. BlackRock Inc. now owns 36,114,244 shares of the company’s stock valued at $1,044,786,000 after purchasing an additional 3,264,774 shares during the period. Boston Partners boosted its stake in shares of Avantor by 2.2% in the first quarter. Boston Partners now owns 18,114,268 shares of the company’s stock valued at $524,636,000 after purchasing an additional 381,330 shares during the period. Viking Global Investors LP boosted its stake in shares of Avantor by 16.1% in the first quarter. Viking Global Investors LP now owns 15,507,888 shares of the company’s stock valued at $448,643,000 after purchasing an additional 2,149,159 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Avantor by 9.9% in the first quarter. Canada Pension Plan Investment Board now owns 12,721,862 shares of the company’s stock valued at $368,043,000 after purchasing an additional 1,150,383 shares during the period. 92.37% of the stock is owned by institutional investors.

About Avantor (NYSE:AVTR)

Avantor, Inc provides products and services to customers in 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, and clinical trial kits.

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