The Manufacturers Life Insurance Company Has $159.74 Million Stock Holdings in Avantor, Inc. (NYSE:AVTR)

The Manufacturers Life Insurance Company increased its stake in Avantor, Inc. (NYSE:AVTR - Free Report) by 653.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,174,736 shares of the company's stock after buying an additional 5,354,678 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.91% of Avantor worth $159,740,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in Avantor by 2,003.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,157 shares of the company's stock valued at $25,000 after acquiring an additional 1,102 shares during the period. Blue Trust Inc. raised its stake in Avantor by 1,830.3% in the 2nd quarter. Blue Trust Inc. now owns 1,467 shares of the company's stock valued at $31,000 after acquiring an additional 1,391 shares during the period. UMB Bank n.a. bought a new stake in Avantor in the 3rd quarter valued at $49,000. Nisa Investment Advisors LLC raised its stake in Avantor by 69.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,035 shares of the company's stock valued at $53,000 after acquiring an additional 835 shares during the period. Finally, GAMMA Investing LLC raised its stake in Avantor by 89.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,715 shares of the company's stock valued at $70,000 after acquiring an additional 1,285 shares during the period. Institutional investors and hedge funds own 95.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AVTR shares. Wells Fargo & Company dropped their price target on Avantor from $30.00 to $28.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. Barclays lowered their price objective on Avantor from $28.00 to $25.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada reiterated an "outperform" rating and set a $34.00 price objective on shares of Avantor in a research report on Thursday, September 26th. Robert W. Baird lowered their price objective on Avantor from $27.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, October 28th. Finally, UBS Group lowered their price objective on Avantor from $30.00 to $29.00 and set a "buy" rating on the stock in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.57.

Avantor Price Performance

Shares of NYSE AVTR traded up $0.09 during mid-day trading on Wednesday, reaching $21.10. The company had a trading volume of 778,677 shares, compared to its average volume of 6,484,555. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.06 and a current ratio of 1.54. Avantor, Inc. has a one year low of $19.59 and a one year high of $28.00. The firm has a market cap of $14.36 billion, a price-to-earnings ratio of 45.67, a PEG ratio of 2.56 and a beta of 1.35. The business's 50-day simple moving average is $23.65 and its 200 day simple moving average is $23.79.

Insider Buying and Selling

In related news, CAO Steven W. Eck sold 3,525 shares of the firm's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $25.06, for a total value of $88,336.50. Following the sale, the chief accounting officer now directly owns 29,544 shares of the company's stock, valued at $740,372.64. This trade represents a 10.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

Avantor Company Profile

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.