Kinney Asset Management LLC Purchases New Stake in Avantor, Inc. $AVTR

Kinney Asset Management LLC purchased a new stake in shares of Avantor, Inc. (NYSE:AVTR) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,375,000 shares of the company’s stock, valued at approximately $18,508,000. Avantor makes up 24.9% of Kinney Asset Management LLC’s investment portfolio, making the stock its 2nd biggest position.

A number of other large investors have also recently made changes to their positions in AVTR. Dodge & Cox grew its holdings in shares of Avantor by 1.1% during the first quarter. Dodge & Cox now owns 100,262,723 shares of the company’s stock valued at $1,625,259,000 after buying an additional 1,116,953 shares during the last quarter. Vanguard Group Inc. boosted its stake in Avantor by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 64,952,926 shares of the company’s stock valued at $1,052,887,000 after purchasing an additional 983,172 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Avantor by 1.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 41,969,199 shares of the company’s stock valued at $680,321,000 after purchasing an additional 608,806 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in Avantor by 89.8% during the 1st quarter. 1832 Asset Management L.P. now owns 18,127,204 shares of the company’s stock worth $293,842,000 after purchasing an additional 8,578,493 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Avantor by 53.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 14,034,699 shares of the company’s stock worth $227,502,000 after purchasing an additional 4,876,524 shares in the last quarter. 95.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVTR. Robert W. Baird lifted their target price on Avantor from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Morgan Stanley cut their price objective on shares of Avantor from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, August 4th. Royal Bank Of Canada lowered their target price on shares of Avantor from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, August 4th. Wells Fargo & Company cut their price target on shares of Avantor from $19.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Finally, Evercore ISI reduced their price objective on shares of Avantor from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Avantor currently has a consensus rating of “Hold” and a consensus price target of $14.42.

Avantor Price Performance

AVTR opened at $11.75 on Monday. Avantor, Inc. has a fifty-two week low of $10.82 and a fifty-two week high of $23.32. The firm has a 50-day moving average of $12.73 and a 200 day moving average of $12.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 1.49. The firm has a market cap of $8.01 billion, a P/E ratio of -90.38, a PEG ratio of 4.03 and a beta of 0.93.

Avantor (NYSE:AVTR) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.65 billion. Avantor had a positive return on equity of 10.91% and a negative net margin of 1.25%.The business’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. Avantor has set its FY 2025 guidance at 0.880-0.920 EPS. On average, research analysts expect that Avantor, Inc. will post 1.06 EPS for the current year.

Insider Activity at Avantor

In other news, Director Gregory L. Summe acquired 100,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were acquired at an average price of $11.25 per share, for a total transaction of $1,125,000.00. Following the completion of the purchase, the director owned 300,000 shares in the company, valued at approximately $3,375,000. This trade represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Avantor Company 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.