Parnassus Investments LLC Sells 822,727 Shares of Avantor, Inc. (NYSE:AVTR)

Parnassus Investments LLC cut its holdings in Avantor, Inc. (NYSE:AVTR) by 27.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,138,772 shares of the company’s stock after selling 822,727 shares during the quarter. Parnassus Investments LLC’s holdings in Avantor were worth $55,330,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AVTR. Empowered Funds LLC purchased a new position in shares of Avantor in the 1st quarter worth $250,000. SG Americas Securities LLC bought a new stake in Avantor during the first quarter worth approximately $159,000. Intech Investment Management LLC raised its position in Avantor by 60.2% during the first quarter. Intech Investment Management LLC now owns 28,554 shares of the company’s stock valued at $730,000 after purchasing an additional 10,727 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Avantor by 45.8% in the 1st quarter. Acadian Asset Management LLC now owns 22,678 shares of the company’s stock valued at $579,000 after purchasing an additional 7,120 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Avantor in the 1st quarter worth approximately $1,242,000. Institutional investors own 95.08% of the company’s stock.

Avantor Stock Down 2.7 %

Avantor stock opened at $20.18 on Tuesday. The business has a fifty day moving average price of $24.41 and a 200-day moving average price of $23.97. Avantor, Inc. has a 1-year low of $19.23 and a 1-year high of $28.00. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of 43.87, a PEG ratio of 2.52 and a beta of 1.35. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.06.

Analyst Ratings Changes

AVTR has been the topic of several recent research reports. Morgan Stanley increased their price target on Avantor from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Stifel Nicolaus raised their target price on shares of Avantor from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, July 29th. UBS Group cut their price target on shares of Avantor from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Wells Fargo & Company dropped their target price on Avantor from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, Barclays decreased their price target on Avantor from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Avantor presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.57.

Insiders Place Their Bets

In related news, CAO Steven W. Eck sold 3,525 shares of Avantor stock in a transaction dated Thursday, September 5th. The stock was 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 $740,372.64. The trade was a 10.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Avantor Profile

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.