State of Michigan Retirement System Purchases 1,800 Shares of Avantor, Inc. (NYSE:AVTR)

State of Michigan Retirement System increased its position in Avantor, Inc. (NYSE:AVTR) by 1.1% in the 1st quarter, Holdings Channel reports. The firm owned 163,000 shares of the company’s stock after buying an additional 1,800 shares during the quarter. State of Michigan Retirement System’s holdings in Avantor were worth $2,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVTR. Wealthquest Corp bought a new position in shares of Avantor during the first quarter valued at $34,000. AlphaQuest LLC bought a new position in shares of Avantor during the fourth quarter valued at $65,000. GAMMA Investing LLC raised its holdings in shares of Avantor by 121.6% in the first quarter. GAMMA Investing LLC now owns 3,747 shares of the company’s stock valued at $61,000 after buying an additional 2,056 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Avantor by 52.0% in the first quarter. Fifth Third Bancorp now owns 3,972 shares of the company’s stock valued at $64,000 after buying an additional 1,359 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Avantor by 24.9% in the fourth quarter. Signaturefd LLC now owns 4,566 shares of the company’s stock valued at $96,000 after buying an additional 911 shares during the last quarter. 95.08% of the stock is owned by institutional investors.

Avantor Price Performance

Avantor stock opened at $13.60 on Monday. The firm has a market capitalization of $9.27 billion, a P/E ratio of 13.08, a PEG ratio of 1.44 and a beta of 1.05. Avantor, Inc. has a 1 year low of $11.82 and a 1 year high of $28.00. The business has a 50-day moving average of $13.21 and a 200-day moving average of $16.28. The company has a current ratio of 1.12, a quick ratio of 0.75 and a debt-to-equity ratio of 0.54.

Avantor (NYSE:AVTR) last posted its earnings results on Friday, April 25th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. Avantor had a return on equity of 11.93% and a net margin of 10.70%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS. On average, equities analysts anticipate that Avantor, Inc. will post 1.06 EPS for the current year.

Insider Activity at Avantor

In other Avantor news, Director Joseph R. Massaro acquired 8,100 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was acquired at an average cost of $12.30 per share, for a total transaction of $99,630.00. Following the transaction, the director owned 35,038 shares of the company’s stock, valued at $430,967.40. This trade represents a 30.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory L. Summe acquired 30,000 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average price of $12.50 per share, with a total value of $375,000.00. Following the completion of the transaction, the director directly owned 100,000 shares in the company, valued at $1,250,000. This trade represents a 42.86% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 83,100 shares of company stock valued at $1,027,630 over the last quarter. 1.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company cut their price target on Avantor from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Royal Bank Of Canada cut their price target on Avantor from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Robert W. Baird lowered their price objective on Avantor from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. TD Cowen lowered Avantor from a “buy” rating to a “hold” rating and set a $15.50 price objective for the company. in a research report on Monday, April 28th. Finally, Stifel Nicolaus lowered Avantor from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $26.00 to $14.00 in a research report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Avantor has a consensus rating of “Hold” and an average target price of $18.14.

Avantor Company 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.