Nordea Investment Management AB Sells 277,151 Shares of Avantor, Inc. (NYSE:AVTR)

Nordea Investment Management AB lowered its stake in Avantor, Inc. (NYSE:AVTR - Free Report) by 81.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,823 shares of the company's stock after selling 277,151 shares during the period. Nordea Investment Management AB's holdings in Avantor were worth $1,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVTR. Canada Pension Plan Investment Board raised its stake in Avantor by 6.8% in the second quarter. Canada Pension Plan Investment Board now owns 22,927,325 shares of the company's stock valued at $486,059,000 after buying an additional 1,463,695 shares in the last quarter. State Street Corp raised its position in shares of Avantor by 58.0% during the 3rd quarter. State Street Corp now owns 22,368,244 shares of the company's stock worth $578,666,000 after purchasing an additional 8,206,695 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Avantor by 18.2% during the 3rd quarter. Janus Henderson Group PLC now owns 17,692,705 shares of the company's stock worth $457,710,000 after purchasing an additional 2,719,615 shares during the last quarter. Geode Capital Management LLC grew its stake in Avantor by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 11,150,788 shares of the company's stock worth $287,791,000 after acquiring an additional 739,667 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in shares of Avantor by 1,634.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 8,530,118 shares of the company's stock valued at $180,839,000 after buying an additional 8,038,451 shares during the period. Institutional investors and hedge funds own 95.08% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AVTR shares. Wells Fargo & Company decreased their price target on shares of Avantor from $30.00 to $28.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Robert W. Baird cut their target price on shares of Avantor from $27.00 to $26.00 and set an "outperform" rating on the stock in a research note on Monday, October 28th. UBS Group lowered their price objective on shares of Avantor from $30.00 to $29.00 and set a "buy" rating for the company in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $34.00 price objective on shares of Avantor in a research report on Thursday, September 26th. Finally, Barclays lowered their price objective on shares of Avantor from $28.00 to $25.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $27.69.

Avantor Trading Up 2.0 %

Shares of NYSE:AVTR traded up $0.44 during mid-day trading on Monday, hitting $22.10. The stock had a trading volume of 8,203,234 shares, compared to its average volume of 3,908,362. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.06 and a current ratio of 1.54. The company has a market cap of $15.04 billion, a PE ratio of 48.04, a P/E/G ratio of 2.75 and a beta of 1.28. Avantor, Inc. has a 12-month low of $19.59 and a 12-month high of $28.00. The company's 50 day moving average is $21.51 and its 200-day moving average is $23.36.

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.