Asahi Life Asset Management CO. LTD. Takes Position in Avantor, Inc. (NYSE:AVTR)

Asahi Life Asset Management CO. LTD. acquired a new stake in Avantor, Inc. (NYSE:AVTR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,900 shares of the company’s stock, valued at approximately $210,000.

A number of other hedge funds have also recently made changes to their positions in AVTR. Parnassus Investments CA purchased a new position in Avantor in the 1st quarter valued at $146,515,000. Bessemer Group Inc. lifted its holdings in Avantor by 444,541.3% in the 2nd quarter. Bessemer Group Inc. now owns 4,410,842 shares of the company’s stock valued at $156,629,000 after purchasing an additional 4,409,850 shares in the last quarter. BlackRock Inc. lifted its holdings in Avantor by 9.9% in the 1st quarter. BlackRock Inc. now owns 36,114,244 shares of the company’s stock valued at $1,044,786,000 after purchasing an additional 3,264,774 shares in the last quarter. Iridian Asset Management LLC CT purchased a new position in Avantor in the 1st quarter valued at $73,442,000. Finally, Jennison Associates LLC increased its stake in shares of Avantor by 178.4% in the 1st quarter. Jennison Associates LLC now owns 3,387,562 shares of the company’s stock worth $98,002,000 after acquiring an additional 2,170,738 shares during the last quarter. Institutional investors own 90.20% of the company’s stock.

Shares of AVTR opened at $42.01 on Wednesday. The stock has a 50-day simple moving average of $38.48 and a 200-day simple moving average of $33.90. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.15 and a current ratio of 1.76. The stock has a market capitalization of $24.54 billion, a PE ratio of 93.36, a PEG ratio of 1.31 and a beta of 1.79. Avantor, Inc. has a 1 year low of $21.04 and a 1 year high of $43.77.

Avantor (NYSE:AVTR) last announced its quarterly earnings data on Thursday, July 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Avantor had a return on equity of 44.55% and a net margin of 4.47%. Analysts predict that Avantor, Inc. will post 1.35 EPS for the current year.

In related news, EVP Christophe Couturier sold 28,096 shares of the business’s stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $35.73, for a total transaction of $1,003,870.08. Following the completion of the sale, the executive vice president now owns 110,077 shares in the company, valued at $3,933,051.21. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Steven W. Eck sold 17,383 shares of the business’s stock in a transaction that occurred on Thursday, August 26th. The shares were sold at an average price of $40.08, for a total value of $696,710.64. The disclosure for this sale can be found here. Insiders sold a total of 419,652 shares of company stock valued at $15,849,715 in the last quarter. Company insiders own 2.00% of the company’s stock.

A number of analysts have issued reports on the company. Truist Securities raised their target price on Avantor from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 2nd. Morgan Stanley raised their target price on Avantor from $38.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, August 2nd. Wells Fargo & Company raised their target price on Avantor from $36.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. Zacks Investment Research raised Avantor from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Friday, September 10th. Finally, Truist raised their price objective on Avantor from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. Sixteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Avantor currently has a consensus rating of “Buy” and an average target price of $42.33.

Avantor Profile

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 through the following segments: the Americas, Europe, and AMEA.

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Institutional Ownership by Quarter for Avantor (NYSE:AVTR)

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