DNB Asset Management AS Acquires 8,436 Shares of Avantor, Inc. (NYSE:AVTR)

DNB Asset Management AS lifted its stake in Avantor, Inc. (NYSE:AVTR) by 7.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,739 shares of the company’s stock after buying an additional 8,436 shares during the quarter. DNB Asset Management AS’s holdings in Avantor were worth $2,517,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Jennison Associates LLC increased its position in shares of Avantor by 113.0% during the 1st quarter. Jennison Associates LLC now owns 2,497,349 shares of the company’s stock valued at $63,857,000 after purchasing an additional 1,325,026 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Avantor in the fourth quarter valued at about $2,842,000. Federated Hermes Inc. increased its position in Avantor by 19.9% during the 4th quarter. Federated Hermes Inc. now owns 628,189 shares of the company’s stock valued at $14,342,000 after purchasing an additional 104,296 shares during the period. BNP Paribas Financial Markets raised its stake in Avantor by 146.1% in the fourth quarter. BNP Paribas Financial Markets now owns 217,296 shares of the company’s stock worth $4,961,000 after buying an additional 129,010 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Avantor during the first quarter worth $2,707,000. Hedge funds and other institutional investors own 95.08% of the company’s stock.

Insider Transactions at Avantor

In other Avantor news, insider Christophe Couturier 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.50% of the company’s stock.

Avantor Stock Performance

AVTR traded up $0.21 on Tuesday, hitting $25.16. 6,757,728 shares of the company traded hands, compared to its average volume of 7,127,365. The company has a 50 day moving average of $22.61 and a 200-day moving average of $23.83. The company has a quick ratio of 1.05, a current ratio of 1.59 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $17.10 billion, a PE ratio of 64.49, a PEG ratio of 2.71 and a beta of 1.32. Avantor, Inc. has a 12-month low of $16.63 and a 12-month high of $28.00.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Avantor from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Citigroup lowered Avantor from a “buy” rating to a “neutral” rating and dropped their target price for the company from $30.00 to $23.00 in a research report on Wednesday, July 10th. Robert W. Baird raised their target price on shares of Avantor from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Evercore ISI decreased their price target on Avantor from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of Avantor from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $27.21.

Avantor 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.