Avantor (NYSE:AVTR) Releases Earnings Results, Beats Expectations By $0.01 EPS

Avantor (NYSE:AVTR) posted its quarterly earnings results on Friday. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.01, reports. Avantor had a net margin of 5.28% and a return on equity of 12.40%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion.

Avantor Stock Down 3.6 %

Shares of NYSE:AVTR opened at $22.43 on Monday. The firm has a market capitalization of $15.24 billion, a PE ratio of 57.51, a price-to-earnings-growth ratio of 2.93 and a beta of 1.33. Avantor has a 1 year low of $16.63 and a 1 year high of $28.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.59 and a quick ratio of 1.05. The firm’s 50-day moving average is $25.49 and its two-hundred day moving average is $24.26.

Wall Street Analyst Weigh In

AVTR has been the subject of a number of analyst reports. TD Cowen upped their price target on Avantor from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Evercore ISI cut their target price on Avantor from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Citigroup cut shares of Avantor from a “buy” rating to a “neutral” rating and lowered their price target for the company from $30.00 to $23.00 in a research report on Wednesday, July 10th. Wells Fargo & Company began coverage on shares of Avantor in a research report on Tuesday, August 27th. They set an “overweight” rating and a $30.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 target price on shares of Avantor in a report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Avantor has an average rating of “Moderate Buy” and an average price target of $27.79.

Insider Activity

In other Avantor news, CAO Steven W. Eck sold 3,525 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $25.06, for a total transaction of $88,336.50. Following the sale, the chief accounting officer now directly owns 29,544 shares in the company, valued at $740,372.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Avantor

Several large investors have recently bought and sold shares of AVTR. Norris Perne & French LLP MI increased its stake in shares of Avantor by 2.8% during the first quarter. Norris Perne & French LLP MI now owns 480,117 shares of the company’s stock worth $12,277,000 after buying an additional 13,047 shares during the period. Cannon Global Investment Management LLC raised its holdings in shares of Avantor by 39.6% in the 1st quarter. Cannon Global Investment Management LLC now owns 32,100 shares of the company’s stock valued at $821,000 after purchasing an additional 9,100 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new stake in shares of Avantor during the 1st quarter worth $1,538,000. Allspring Global Investments Holdings LLC grew its stake in shares of Avantor by 8,060.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 857,276 shares of the company’s stock worth $21,921,000 after purchasing an additional 846,771 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in Avantor in the first quarter valued at $93,000. Hedge funds and other institutional investors own 95.08% 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.