Weiss Asset Management LP Makes New $1.77 Million Investment in Avantor, Inc. (NYSE:AVTR)

Weiss Asset Management LP purchased a new stake in shares of Avantor, Inc. (NYSE:AVTR - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 68,342 shares of the company's stock, valued at approximately $1,768,000.

Other hedge funds have also made changes to their positions in the company. Sound Shore Management Inc. CT acquired a new stake in Avantor during the 2nd quarter valued at $76,412,000. Seven Eight Capital LP acquired a new position in Avantor during the second quarter valued at $642,000. New York State Teachers Retirement System purchased a new stake in Avantor in the 3rd quarter worth about $8,473,000. Allspring Global Investments Holdings LLC boosted its position in Avantor by 35.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,157,855 shares of the company's stock worth $24,547,000 after acquiring an additional 300,579 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in Avantor during the 2nd quarter valued at about $952,000. Hedge funds and other institutional investors own 95.08% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Avantor from $27.00 to $26.00 and set an "outperform" rating for the company in a research report on Monday, October 28th. UBS Group cut their target price 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 issued a $34.00 price target on shares of Avantor in a research note on Thursday, September 26th. Wells Fargo & Company cut their price objective on Avantor from $30.00 to $28.00 and set an "overweight" rating for the company in a report on Monday, October 28th. Finally, Barclays lowered their target price on Avantor from $28.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $27.69.

Avantor Stock Performance

Shares of NYSE:AVTR traded up $0.55 during trading on Friday, reaching $21.39. The stock had a trading volume of 5,379,971 shares, compared to its average volume of 6,741,872. The stock has a fifty day simple moving average of $22.78 and a two-hundred day simple moving average of $23.59. The company has a quick ratio of 1.06, a current ratio of 1.54 and a debt-to-equity ratio of 0.84. Avantor, Inc. has a 52 week low of $19.59 and a 52 week high of $28.00. The firm has a market capitalization of $14.56 billion, a price-to-earnings ratio of 46.50, a P/E/G ratio of 2.57 and a beta of 1.29.

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.