Avantor (NYSE:AVTR) Trading Up 8.2% – Here’s What Happened

Avantor, Inc. (NYSE:AVTR) rose 8.2% during trading on Thursday . The stock traded as high as $10.23 and last traded at $10.5560. Approximately 1,160,610 shares traded hands during trading, a decline of 89% from the average session volume of 10,419,951 shares. The stock had previously closed at $9.76.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AVTR shares. Wolfe Research downgraded Avantor to an “underperform” rating and set a $7.00 target price for the company. in a report on Monday, June 1st. Royal Bank Of Canada initiated coverage on shares of Avantor in a research report on Thursday, May 14th. They set a “sector perform” rating and a $9.00 price objective for the company. Barclays lifted their price objective on shares of Avantor from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, June 24th. Evercore set a $10.50 target price on shares of Avantor in a research report on Monday. Finally, Zacks Research raised shares of Avantor from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Avantor has an average rating of “Reduce” and an average price target of $10.62.

Avantor Trading Down 1.1%

The business has a 50 day moving average of $9.11 and a two-hundred day moving average of $9.43. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of -12.83, a P/E/G ratio of 6.09 and a beta of 0.94. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.17 and a current ratio of 1.76.

Avantor (NYSE:AVTR) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Avantor had a positive return on equity of 9.95% and a negative net margin of 8.42%.The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the firm posted $0.23 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts predict that Avantor, Inc. will post 0.79 EPS for the current year.

Insider Buying and Selling at Avantor

In other Avantor news, Director Gregory T. Lucier purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was acquired at an average price of $8.32 per share, for a total transaction of $83,200.00. Following the purchase, the director owned 60,000 shares of the company’s stock, valued at $499,200. This trade represents a 20.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Simon Dingemans acquired 25,000 shares of the company’s stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $8.14 per share, for a total transaction of $203,500.00. Following the completion of the purchase, the director directly owned 25,000 shares of the company’s stock, valued at approximately $203,500. This represents a ? increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Avantor

Large investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its holdings in Avantor by 41.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 278,500 shares of the company’s stock worth $2,757,000 after purchasing an additional 81,200 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Avantor by 425.0% in the second quarter. Assenagon Asset Management S.A. now owns 556,871 shares of the company’s stock valued at $5,513,000 after purchasing an additional 450,801 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Avantor by 93.3% in the second quarter. GAMMA Investing LLC now owns 46,592 shares of the company’s stock valued at $461,000 after purchasing an additional 22,491 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Avantor by 372.1% during the second quarter. Versant Capital Management Inc now owns 9,073 shares of the company’s stock valued at $90,000 after buying an additional 7,151 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Avantor by 21.4% during the first quarter. Parallel Advisors LLC now owns 8,452 shares of the company’s stock valued at $66,000 after buying an additional 1,491 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.

About Avantor

Avantor, Inc (NYSE:AVTR) is a global provider of mission-critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. The company delivers essential solutions that support research, development, production and safety applications. Its product portfolio spans from high-purity chemicals and reagents to biologics and cell culture media, as well as lab equipment, consumables and custom manufacturing services.

Avantor’s offerings are organized across two primary segments.