Mackenzie Financial Corp Grows Stock Holdings in Avantor, Inc. (NYSE:AVTR)

Mackenzie Financial Corp raised its position in Avantor, Inc. (NYSE:AVTR) by 31.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,373 shares of the company’s stock after acquiring an additional 8,514 shares during the quarter. Mackenzie Financial Corp’s holdings in Avantor were worth $1,447,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Duality Advisers LP purchased a new position in shares of Avantor in the third quarter valued at about $1,015,000. Daiwa Securities Group Inc. increased its position in shares of Avantor by 13.8% in the third quarter. Daiwa Securities Group Inc. now owns 27,321 shares of the company’s stock valued at $1,117,000 after acquiring an additional 3,321 shares during the period. Advisor Group Holdings Inc. increased its position in shares of Avantor by 20.2% in the third quarter. Advisor Group Holdings Inc. now owns 53,742 shares of the company’s stock valued at $2,197,000 after acquiring an additional 9,050 shares during the period. D L Carlson Investment Group Inc. increased its position in shares of Avantor by 0.3% in the third quarter. D L Carlson Investment Group Inc. now owns 206,157 shares of the company’s stock valued at $8,432,000 after acquiring an additional 561 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Avantor by 8.1% in the third quarter. PNC Financial Services Group Inc. now owns 1,745,168 shares of the company’s stock valued at $71,378,000 after acquiring an additional 130,945 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

AVTR has been the topic of a number of analyst reports. Citigroup boosted their price target on shares of Avantor from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, November 1st. Robert W. Baird boosted their price target on shares of Avantor from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Monday, November 1st. Barclays boosted their price target on shares of Avantor from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, November 1st. Cowen boosted their price target on shares of Avantor from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, December 9th. Finally, Zacks Investment Research cut shares of Avantor from a “hold” rating to a “sell” rating in a report on Tuesday, January 4th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $46.25.

In related news, EVP Christophe Couturier sold 5,828 shares of the stock in a transaction that occurred on Wednesday, December 8th. The shares were sold at an average price of $40.00, for a total transaction of $233,120.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Frederic Vanderhaegen sold 80,000 shares of the stock in a transaction that occurred on Friday, November 12th. The shares were sold at an average price of $38.25, for a total transaction of $3,060,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 405,290 shares of company stock worth $16,117,667. Insiders own 2.00% of the company’s stock.

Shares of NYSE AVTR opened at $37.71 on Friday. The firm’s 50 day moving average price is $39.42 and its 200-day moving average price is $39.13. The company has a market cap of $22.98 billion, a PE ratio of 47.73, a P/E/G ratio of 0.84 and a beta of 1.60. Avantor, Inc. has a 52-week low of $26.14 and a 52-week high of $44.37. The company has a debt-to-equity ratio of 1.79, a quick ratio of 2.06 and a current ratio of 2.70.

Avantor (NYSE:AVTR) last issued its earnings results on Wednesday, October 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.84 billion. Avantor had a net margin of 7.07% and a return on equity of 39.88%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. On average, analysts forecast that Avantor, Inc. will post 1.38 earnings per share for the current fiscal year.

Avantor Profile

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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Institutional Ownership by Quarter for Avantor (NYSE:AVTR)

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