Jennison Associates LLC Lowers Position in Avantor, Inc. (NYSE:AVTR)

Jennison Associates LLC cut its position in Avantor, Inc. (NYSE:AVTR - Free Report) by 44.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,948,520 shares of the company's stock after selling 1,585,669 shares during the quarter. Jennison Associates LLC owned 0.29% of Avantor worth $50,408,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AVTR. PNC Financial Services Group Inc. grew its holdings in shares of Avantor by 16.2% in the third quarter. PNC Financial Services Group Inc. now owns 47,732 shares of the company's stock valued at $1,235,000 after purchasing an additional 6,668 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Avantor in the third quarter worth $3,282,000. Banque Cantonale Vaudoise increased its position in shares of Avantor by 66.8% during the third quarter. Banque Cantonale Vaudoise now owns 109,777 shares of the company's stock worth $2,840,000 after acquiring an additional 43,970 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Avantor in the third quarter valued at $507,000. Finally, Swiss National Bank boosted its holdings in Avantor by 0.3% in the third quarter. Swiss National Bank now owns 2,016,100 shares of the company's stock valued at $52,157,000 after purchasing an additional 5,200 shares during the period. Hedge funds and other institutional investors own 95.08% of the company's stock.

Avantor Price Performance

AVTR traded up $0.32 during trading on Friday, reaching $20.68. 3,395,447 shares of the stock were exchanged, compared to its average volume of 6,483,904. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.06. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of 44.59, a P/E/G ratio of 2.39 and a beta of 1.35. Avantor, Inc. has a 1 year low of $19.59 and a 1 year high of $28.00. The business's 50 day moving average price is $24.01 and its two-hundred day moving average price is $23.89.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVTR. Morgan Stanley upped their price target on Avantor from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, July 29th. UBS Group reduced their target price on shares of Avantor from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Tuesday, October 8th. Robert W. Baird lowered their price target on shares of Avantor from $27.00 to $26.00 and set an "outperform" rating for the company in a report on Monday, October 28th. Barclays dropped their target price on Avantor from $28.00 to $25.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Finally, Stifel Nicolaus upped their target price on shares of Avantor from $27.00 to $28.00 and gave the company a "buy" rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Avantor presently has an average rating of "Moderate Buy" and an average target price of $27.57.

Insider Transactions at Avantor

In related news, CAO Steven W. Eck sold 3,525 shares of Avantor stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $25.06, for a total transaction of $88,336.50. Following the completion of the transaction, the chief accounting officer now directly owns 29,544 shares in the company, valued at $740,372.64. The trade was a 10.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.50% of the company's stock.

About Avantor

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.