Avantor (NYSE:AVTR) Downgraded by Zacks Investment Research

Avantor (NYSE:AVTR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Avantor Inc. is a provider of critical products and services primarily to biopharma, healthcare, education & government, advanced technologies & applied materials industries. Avantor Inc. is based in Radnor, United States. “

A number of other equities research analysts also recently issued reports on AVTR. Credit Suisse Group cut their target price on shares of Avantor from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Barclays cut their price objective on Avantor from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, March 26th. Stifel Nicolaus boosted their target price on Avantor from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Raymond James dropped their target price on Avantor from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Finally, CSFB reduced their price target on Avantor from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Avantor currently has an average rating of “Buy” and a consensus target price of $18.90.

NYSE AVTR traded up $0.50 on Tuesday, hitting $17.00. 7,726,404 shares of the company were exchanged, compared to its average volume of 3,606,350. Avantor has a twelve month low of $6.66 and a twelve month high of $19.58. The firm has a market capitalization of $9.64 billion and a P/E ratio of -20.48. The company’s 50 day moving average price is $17.73 and its 200-day moving average price is $16.45.

Avantor (NYSE:AVTR) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the business posted $0.11 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts expect that Avantor will post 0.67 earnings per share for the current fiscal year.

In related news, EVP Michael Wondrasch sold 22,987 shares of Avantor stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $17.82, for a total transaction of $409,628.34. Following the sale, the executive vice president now directly owns 154,087 shares of the company’s stock, valued at $2,745,830.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder New Mountain Investments Iii, sold 20,886,424 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $15.90, for a total value of $332,094,141.60. The disclosure for this sale can be found here. Insiders sold 34,726,317 shares of company stock valued at $552,420,898 over the last three months. 1.90% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd boosted its holdings in Avantor by 2.8% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 26,028 shares of the company’s stock valued at $472,000 after purchasing an additional 703 shares in the last quarter. American International Group Inc. boosted its stake in shares of Avantor by 32.8% in the 1st quarter. American International Group Inc. now owns 6,571 shares of the company’s stock valued at $82,000 after purchasing an additional 1,622 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Avantor by 14.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,625 shares of the company’s stock worth $170,000 after buying an additional 1,676 shares during the period. First Quadrant L P CA bought a new stake in shares of Avantor during the first quarter worth approximately $32,000. Finally, Piedmont Investment Advisors Inc. lifted its holdings in Avantor by 16.2% in the first quarter. Piedmont Investment Advisors Inc. now owns 19,262 shares of the company’s stock valued at $241,000 after buying an additional 2,686 shares during the period. Hedge funds and other institutional investors own 78.88% of the company’s stock.

About Avantor

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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