Avantor (NYSE:AVTR) Trading Down 3% – Here’s What Happened

Avantor, Inc. (NYSE:AVTR) traded down 3% during mid-day trading on Friday . The company traded as low as $21.70 and last traded at $21.89. 1,127,393 shares were traded during mid-day trading, a decline of 72% from the average session volume of 4,009,236 shares. The stock had previously closed at $22.57.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Avantor from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Robert W. Baird cut their price objective on shares of Avantor from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. UBS Group reaffirmed a “neutral” rating and set a $25.00 price objective (down previously from $29.00) on shares of Avantor in a research report on Friday. Wells Fargo & Company cut their price objective on shares of Avantor from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Avantor in a research report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.38.

Avantor Stock Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.06. The firm has a fifty day simple moving average of $21.45 and a 200 day simple moving average of $23.35. The company has a market cap of $15.07 billion, a price-to-earnings ratio of 48.13, a P/E/G ratio of 3.42 and a beta of 1.28.

Institutional Investors Weigh In On Avantor

Several hedge funds and other institutional investors have recently modified their holdings of AVTR. Envestnet Asset Management Inc. grew its stake in shares of Avantor by 1.7% in the second quarter. Envestnet Asset Management Inc. now owns 1,097,671 shares of the company’s stock worth $23,271,000 after acquiring an additional 18,672 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Avantor by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,434,195 shares of the company’s stock worth $94,018,000 after acquiring an additional 350,247 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Avantor by 4.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,440 shares of the company’s stock worth $539,000 after acquiring an additional 1,119 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Avantor in the second quarter worth $642,000. Finally, First Eagle Investment Management LLC grew its stake in shares of Avantor by 16.4% in the second quarter. First Eagle Investment Management LLC now owns 18,482 shares of the company’s stock worth $392,000 after acquiring an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 95.08% of the company’s stock.

About Avantor

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.