Avantor (NYSE:AVTR) Shares Up 5.8%

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Shares of Avantor Inc (NYSE:AVTR) shot up 5.8% during trading on Wednesday . The company traded as high as $17.49 and last traded at $17.45, 6,989,638 shares changed hands during trading. An increase of 103% from the average session volume of 3,435,657 shares. The stock had previously closed at $16.49.

A number of equities analysts have weighed in on the stock. Piper Jaffray Companies dropped their price target on shares of Avantor from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Zacks Investment Research upgraded shares of Avantor from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus assumed coverage on shares of Avantor in a research report on Thursday, November 14th. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Avantor presently has an average rating of “Buy” and an average price target of $20.57.

The firm has a 50-day moving average of $15.39.

Avantor (NYSE:AVTR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.15. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Avantor Inc will post 0.55 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Artal Group S.A. bought a new position in shares of Avantor during the second quarter worth $133,630,000. Senator Investment Group LP bought a new position in Avantor during the second quarter valued at $195,672,000. BlueMountain Capital Management LLC bought a new position in Avantor during the second quarter valued at $6,682,000. Morgan Stanley bought a new position in Avantor during the second quarter valued at $12,804,000. Finally, Egerton Capital UK LLP bought a new position in Avantor during the second quarter valued at $83,756,000. Hedge funds and other institutional investors own 77.94% of the company’s stock.

About Avantor (NYSE:AVTR)

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 in more than 30 countries and deliver an extensive portfolio of products and services.

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