Readystate Asset Management LP Makes New Investment in Avantor, Inc. (NYSE:AVTR)

Readystate Asset Management LP purchased a new position in shares of Avantor, Inc. (NYSE:AVTR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 588,878 shares of the company’s stock, valued at approximately $13,444,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in shares of Avantor by 125.3% in the fourth quarter. Fifth Third Bancorp now owns 1,248 shares of the company’s stock valued at $28,000 after buying an additional 694 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Avantor by 565.5% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,331 shares of the company’s stock valued at $30,000 after buying an additional 1,131 shares in the last quarter. Quarry LP boosted its holdings in Avantor by 815.3% in the first quarter. Quarry LP now owns 1,437 shares of the company’s stock valued at $30,000 after purchasing an additional 1,280 shares during the last quarter. Gladius Capital Management LP purchased a new position in Avantor in the fourth quarter valued at about $42,000. Finally, Montag A & Associates Inc. purchased a new position in Avantor in the fourth quarter valued at about $43,000. 95.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on AVTR. Raymond James increased their price target on Avantor from $22.50 to $26.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Citigroup increased their price target on Avantor from $24.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Barclays increased their price target on Avantor from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Evercore ISI increased their price target on Avantor from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. increased their price target on Avantor from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.50.

Insider Activity

In other news, EVP James Bramwell sold 6,203 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $24.49, for a total transaction of $151,911.47. Following the completion of the transaction, the executive vice president now owns 101,143 shares of the company’s stock, valued at $2,476,992.07. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Avantor Stock Performance

AVTR stock traded down $0.22 during mid-day trading on Wednesday, reaching $24.38. The company had a trading volume of 5,696,340 shares, compared to its average volume of 5,732,252. Avantor, Inc. has a one year low of $16.63 and a one year high of $26.16. The stock has a market capitalization of $16.54 billion, a P/E ratio of 50.79, a P/E/G ratio of 1.56 and a beta of 1.37. The company has a quick ratio of 1.05, a current ratio of 1.61 and a debt-to-equity ratio of 1.00. The stock’s 50-day simple moving average is $24.89 and its two-hundred day simple moving average is $22.42.

Avantor (NYSE:AVTR) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.03. Avantor had a net margin of 4.61% and a return on equity of 14.11%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. Research analysts anticipate that Avantor, Inc. will post 1.01 EPS for the current year.

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.