Envestnet Portfolio Solutions Inc. Reduces Stock Holdings in Avantor, Inc. (NYSE:AVTR)

Envestnet Portfolio Solutions Inc. reduced its position in Avantor, Inc. (NYSE:AVTR - Free Report) by 32.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,705 shares of the company's stock after selling 19,425 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Avantor were worth $837,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Avantor by 58.0% in the 3rd quarter. State Street Corp now owns 22,368,244 shares of the company's stock valued at $578,666,000 after purchasing an additional 8,206,695 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Avantor by 653.0% in the third quarter. The Manufacturers Life Insurance Company now owns 6,174,736 shares of the company's stock worth $159,740,000 after buying an additional 5,354,678 shares in the last quarter. FMR LLC lifted its holdings in Avantor by 557.2% during the third quarter. FMR LLC now owns 4,675,283 shares of the company's stock worth $120,950,000 after buying an additional 3,963,912 shares during the period. Janus Henderson Group PLC boosted its position in Avantor by 18.2% during the 3rd quarter. Janus Henderson Group PLC now owns 17,692,705 shares of the company's stock valued at $457,710,000 after acquiring an additional 2,719,615 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Avantor in the 4th quarter valued at $33,091,000. 95.08% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, EVP James Bramwell sold 3,758 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $17.53, for a total value of $65,877.74. Following the transaction, the executive vice president now directly owns 87,379 shares of the company's stock, valued at approximately $1,531,753.87. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Steven W. Eck sold 4,907 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $17.53, for a total transaction of $86,019.71. Following the completion of the sale, the chief accounting officer now owns 40,604 shares of the company's stock, valued at approximately $711,788.12. The trade was a 10.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

Avantor Stock Performance

NYSE AVTR traded down $0.11 on Thursday, reaching $16.17. 3,793,955 shares of the company's stock traded hands, compared to its average volume of 6,316,537. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 1.55 and a beta of 1.30. Avantor, Inc. has a fifty-two week low of $15.37 and a fifty-two week high of $28.00. The stock has a 50 day moving average price of $18.65 and a 200-day moving average price of $21.53. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.70 and a current ratio of 1.07.

Avantor (NYSE:AVTR - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. Avantor had a net margin of 10.49% and a return on equity of 12.17%. During the same quarter last year, the business posted $0.22 earnings per share. Equities research analysts predict that Avantor, Inc. will post 1.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Morgan Stanley dropped their price objective on Avantor from $27.00 to $25.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company lowered their price target on shares of Avantor from $28.00 to $25.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Royal Bank of Canada reduced their price objective on shares of Avantor from $33.00 to $31.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Stifel Nicolaus lowered their target price on shares of Avantor from $28.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Finally, Citigroup reduced their price target on Avantor from $22.00 to $18.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $25.50.

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.