Edgestream Partners L.P. Raises Stock Position in Avantor, Inc. (NYSE:AVTR)

Edgestream Partners L.P. raised its position in Avantor, Inc. (NYSE:AVTR) by 77.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,709 shares of the company’s stock after purchasing an additional 27,342 shares during the period. Edgestream Partners L.P.’s holdings in Avantor were worth $1,622,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AVTR. Sound Shore Management Inc. CT bought a new stake in Avantor during the second quarter valued at $76,412,000. Seven Eight Capital LP purchased a new stake in shares of Avantor in the 2nd quarter valued at about $642,000. New York State Teachers Retirement System purchased a new position in shares of Avantor during the third quarter worth about $8,473,000. Allspring Global Investments Holdings LLC increased its position in shares of Avantor by 35.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,157,855 shares of the company’s stock worth $24,547,000 after purchasing an additional 300,579 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Avantor in the second quarter valued at approximately $952,000. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Avantor Stock Down 0.0 %

Shares of NYSE:AVTR opened at $21.09 on Wednesday. The stock’s 50-day moving average is $23.06 and its 200 day moving average is $23.66. The company has a market cap of $14.35 billion, a PE ratio of 45.85, a P/E/G ratio of 2.56 and a beta of 1.29. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.06. Avantor, Inc. has a 1 year low of $19.59 and a 1 year high of $28.00.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AVTR. Royal Bank of Canada reissued an “outperform” rating and issued a $34.00 price target on shares of Avantor in a report on Thursday, September 26th. Wells Fargo & Company lowered their price target on Avantor from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Barclays cut their price objective on Avantor from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Robert W. Baird decreased their price objective on Avantor from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. Finally, UBS Group dropped their target price on Avantor from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.57.

Insider Activity

In related news, CAO Steven W. Eck sold 3,525 shares of Avantor stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $25.06, for a total transaction of $88,336.50. Following the sale, the chief accounting officer now directly owns 29,544 shares in the company, 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. Insiders own 1.30% of the company’s stock.

About Avantor

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.