47,500 Shares in Avantor, Inc. (NYSE:AVTR) Bought by Ascendant Capital Management LLC

Ascendant Capital Management LLC purchased a new position in Avantor, Inc. (NYSE:AVTR) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 47,500 shares of the company’s stock, valued at approximately $1,687,000.

Other large investors also recently modified their holdings of the company. Baird Financial Group Inc. increased its stake in Avantor by 9.0% during the first quarter. Baird Financial Group Inc. now owns 16,148 shares of the company’s stock valued at $467,000 after purchasing an additional 1,337 shares during the last quarter. Bank of Montreal Can increased its stake in Avantor by 770.1% during the first quarter. Bank of Montreal Can now owns 33,134 shares of the company’s stock valued at $1,044,000 after purchasing an additional 29,326 shares during the last quarter. Blair William & Co. IL bought a new stake in Avantor during the first quarter valued at $503,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Avantor during the first quarter valued at $120,000. Finally, Barclays PLC increased its stake in Avantor by 32.8% during the first quarter. Barclays PLC now owns 344,127 shares of the company’s stock valued at $9,955,000 after purchasing an additional 85,035 shares during the last quarter. Institutional investors and hedge funds own 90.20% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Truist boosted their price target on shares of Avantor from $35.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 2nd. Morgan Stanley boosted their price target on shares of Avantor from $38.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, August 2nd. Credit Suisse Group boosted their price target on shares of Avantor from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, September 10th. Piper Sandler raised shares of Avantor from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $40.00 to $45.00 in a report on Monday, August 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Avantor from $36.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, July 30th. Sixteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Avantor has a consensus rating of “Buy” and a consensus target price of $43.28.

NYSE AVTR traded down $0.58 on Wednesday, hitting $37.12. 50,473 shares of the company were exchanged, compared to its average volume of 4,047,697. The company’s 50 day moving average price is $40.42 and its 200-day moving average price is $36.11. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.76 and a quick ratio of 1.15. The firm has a market capitalization of $21.68 billion, a P/E ratio of 83.78, a price-to-earnings-growth ratio of 1.19 and a beta of 1.68. Avantor, Inc. has a twelve month low of $22.49 and a twelve month high of $44.37.

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

In related news, EVP Gerard Brophy sold 81,125 shares of the business’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $37.24, for a total value of $3,021,095.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Stubblefield sold 141,300 shares of the business’s stock in a transaction that occurred on Monday, September 20th. The shares were sold at an average price of $42.37, for a total value of $5,986,881.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 539,808 shares of company stock worth $21,524,687. Corporate insiders own 2.00% of the company’s stock.

About Avantor

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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