Canada Pension Plan Investment Board increased its position in shares of Avantor, Inc. (NYSE:AVTR) by 9.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,721,862 shares of the company’s stock after purchasing an additional 1,150,383 shares during the period. Canada Pension Plan Investment Board owned approximately 2.19% of Avantor worth $368,043,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Avantor by 30.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 67,163,849 shares of the company’s stock valued at $1,890,662,000 after buying an additional 15,742,336 shares in the last quarter. Norges Bank bought a new position in Avantor in the fourth quarter worth approximately $246,656,000. Viking Global Investors LP increased its holdings in Avantor by 62.6% during the 4th quarter. Viking Global Investors LP now owns 13,358,729 shares of the company’s stock worth $376,048,000 after purchasing an additional 5,141,022 shares during the period. Parnassus Investments CA bought a new stake in Avantor during the 1st quarter valued at $146,515,000. Finally, BlackRock Inc. lifted its holdings in shares of Avantor by 9.9% in the 1st quarter. BlackRock Inc. now owns 36,114,244 shares of the company’s stock worth $1,044,786,000 after buying an additional 3,264,774 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.
AVTR has been the subject of a number of recent research reports. Credit Suisse Group boosted their price objective on shares of Avantor from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, April 29th. Raymond James lifted their price objective on shares of Avantor from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, April 29th. Piper Sandler increased their target price on shares of Avantor from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, April 29th. TheStreet raised shares of Avantor from a “c” rating to a “b-” rating in a report on Wednesday, May 19th. Finally, Stifel Nicolaus raised Avantor from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Thursday, April 29th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $35.29.
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. 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 analyst estimates of $1.70 billion. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Avantor’s revenue for the quarter was up 17.6% on a year-over-year basis. Analysts forecast that Avantor, Inc. will post 1.27 earnings per share for the current year.
In other news, Director Jo Natauri sold 2,626,771 shares of the business’s stock in a transaction dated Tuesday, May 11th. The stock was sold at an average price of $30.68, for a total value of $80,589,334.28. Following the completion of the transaction, the director now owns 92,661 shares of the company’s stock, valued at approximately $2,842,839.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Justin Miller sold 18,488 shares of the company’s stock in a transaction dated Thursday, May 20th. The stock was sold at an average price of $31.12, for a total value of $575,346.56. Following the completion of the sale, the executive vice president now owns 86,536 shares in the company, valued at approximately $2,693,000.32. The disclosure for this sale can be found here. Insiders sold a total of 3,513,268 shares of company stock worth $109,241,820 over the last ninety days. Insiders own 2.00% of the company’s stock.
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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