Citigroup Inc. Sells 38,691 Shares of Avantor, Inc. (NYSE:AVTR)

Citigroup Inc. cut its stake in Avantor, Inc. (NYSE:AVTR - Free Report) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 421,064 shares of the company's stock after selling 38,691 shares during the quarter. Citigroup Inc. owned about 0.06% of Avantor worth $10,893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AVTR. Versant Capital Management Inc grew its stake in Avantor by 2,003.6% in the second quarter. Versant Capital Management Inc now owns 1,157 shares of the company's stock worth $25,000 after purchasing an additional 1,102 shares during the period. Blue Trust Inc. boosted its holdings in shares of Avantor by 1,830.3% during the 2nd quarter. Blue Trust Inc. now owns 1,467 shares of the company's stock valued at $31,000 after buying an additional 1,391 shares in the last quarter. UMB Bank n.a. purchased a new stake in shares of Avantor in the 3rd quarter worth about $49,000. Nisa Investment Advisors LLC increased its stake in shares of Avantor by 69.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,035 shares of the company's stock worth $53,000 after acquiring an additional 835 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Avantor by 89.9% during 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. 95.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Avantor

In related news, CAO Steven W. Eck sold 3,525 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $25.06, for a total transaction of $88,336.50. Following the completion of the sale, the chief accounting officer now directly owns 29,544 shares in the company, valued at approximately $740,372.64. The trade was a 10.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

AVTR has been the topic of a number of recent research reports. Barclays cut their price objective on shares of Avantor from $28.00 to $25.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Wells Fargo & Company cut 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. UBS Group lowered their price objective on Avantor from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Tuesday, October 8th. Robert W. Baird cut their target price on Avantor from $27.00 to $26.00 and set an "outperform" rating on the stock in a research note on Monday, October 28th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $34.00 price target on shares of Avantor in a report on Thursday, September 26th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Avantor has an average rating of "Moderate Buy" and a consensus price target of $27.57.

Avantor Stock Performance

AVTR stock traded up $0.02 on Friday, hitting $21.06. The company had a trading volume of 3,337,531 shares, compared to its average volume of 6,492,497. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of 45.74, a P/E/G ratio of 2.55 and a beta of 1.35. The company has a current ratio of 1.54, a quick ratio of 1.06 and a debt-to-equity ratio of 0.84. The stock's 50-day simple moving average is $23.40 and its 200 day simple moving average is $23.76. Avantor, Inc. has a 12-month low of $19.59 and a 12-month high of $28.00.

Avantor 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.