Goldman Sachs Group Inc. Decreases Stock Holdings in Avantor, Inc. (NYSE:AVTR)

Goldman Sachs Group Inc. decreased its holdings in Avantor, Inc. (NYSE:AVTR) by 0.0% in the first quarter, Holdings Channel reports. The firm owned 27,828,808 shares of the company’s stock after selling 7,659 shares during the period. Goldman Sachs Group Inc.’s holdings in Avantor were worth $805,087,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in Avantor by 30.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 67,163,849 shares of the company’s stock worth $1,890,662,000 after acquiring an additional 15,742,336 shares during the period. Canada Pension Plan Investment Board raised its holdings in Avantor by 825.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 11,571,479 shares of the company’s stock valued at $325,737,000 after acquiring an additional 10,321,479 shares during the last quarter. Norges Bank acquired a new stake in shares of Avantor in the 4th quarter worth $246,656,000. Viking Global Investors LP grew its holdings in shares of Avantor by 62.6% in the fourth quarter. Viking Global Investors LP now owns 13,358,729 shares of the company’s stock valued at $376,048,000 after purchasing an additional 5,141,022 shares during the period. Finally, Parnassus Investments CA purchased a new stake in shares of Avantor in the 1st quarter valued at approximately $146,515,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have commented on the company. The Goldman Sachs Group started coverage on Avantor in a research note on Friday, June 4th. They set a “buy” rating and a $40.00 price target on the stock. Barclays initiated coverage on Avantor in a research report on Monday, March 8th. They set an “overweight” rating and a $33.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of Avantor from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, April 29th. Zacks Investment Research raised Avantor from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Friday, April 16th. Finally, Piper Sandler lifted their target price on Avantor from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, April 29th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $35.29.

Shares of Avantor stock traded down $0.25 during midday trading on Friday, hitting $33.22. The company had a trading volume of 143,444 shares, compared to its average volume of 4,290,762. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 2.56. The company’s 50 day moving average price is $31.67. Avantor, Inc. has a 1-year low of $16.37 and a 1-year high of $33.99. The company has a market cap of $19.34 billion, a PE ratio of 114.31, a PEG ratio of 1.34 and a beta of 1.79.

Avantor (NYSE:AVTR) last announced its quarterly earnings results on Tuesday, April 27th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. Avantor had a return on equity of 41.17% and a net margin of 3.51%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the business posted $0.17 earnings per share. The business’s revenue was up 17.6% compared to the same quarter last year. Equities analysts predict that Avantor, Inc. will post 1.25 earnings per share for the current fiscal year.

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

Avantor Profile

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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Institutional Ownership by Quarter for Avantor (NYSE:AVTR)

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