Principle Wealth Partners LLC Invests $258,000 in Avantor, Inc. (NYSE:AVTR)

Principle Wealth Partners LLC bought a new position in shares of Avantor, Inc. (NYSE:AVTR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,300 shares of the company’s stock, valued at approximately $258,000.

A number of other institutional investors and hedge funds have also modified their holdings of AVTR. Boston Partners grew its stake in Avantor by 21.4% during the 3rd quarter. Boston Partners now owns 28,077,026 shares of the company’s stock valued at $588,362,000 after acquiring an additional 4,948,951 shares in the last quarter. Invesco Ltd. grew its stake in Avantor by 56.5% during the 3rd quarter. Invesco Ltd. now owns 6,591,898 shares of the company’s stock valued at $138,957,000 after acquiring an additional 2,381,154 shares in the last quarter. Public Sector Pension Investment Board grew its stake in Avantor by 65.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 2,538,995 shares of the company’s stock valued at $53,522,000 after acquiring an additional 1,005,480 shares in the last quarter. abrdn plc grew its stake in Avantor by 777.4% during the 4th quarter. abrdn plc now owns 951,775 shares of the company’s stock valued at $21,729,000 after acquiring an additional 843,298 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Avantor during the 3rd quarter valued at about $16,864,000. Hedge funds and other institutional investors own 95.08% of the company’s stock.

Avantor Price Performance

Shares of AVTR opened at $23.94 on Monday. Avantor, Inc. has a twelve month low of $16.63 and a twelve month high of $26.16. The firm’s fifty day simple moving average is $25.08 and its 200-day simple moving average is $22.63. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 61.38, a PEG ratio of 2.44 and a beta of 1.37. The company has a current ratio of 1.61, a quick ratio of 1.05 and a debt-to-equity ratio of 1.00.

Avantor (NYSE:AVTR) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. Avantor had a net margin of 4.61% and a return on equity of 14.11%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. Equities analysts forecast that Avantor, Inc. will post 1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AVTR. UBS Group upped their price objective on shares of Avantor from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Raymond James increased their price target on shares of Avantor from $22.50 to $26.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Evercore ISI increased their price target on shares of Avantor from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Robert W. Baird upped their price objective on shares of Avantor from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Avantor from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.71.

Insider Activity at Avantor

In related news, EVP James Bramwell sold 6,203 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $24.49, for a total value of $151,911.47. Following the transaction, the executive vice president now directly owns 101,143 shares of the company’s stock, valued at approximately $2,476,992.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% 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.