Bank of New York Mellon Corp Buys 258,268 Shares of Avantor, Inc. $AVTR

Bank of New York Mellon Corp increased its stake in shares of Avantor, Inc. (NYSE:AVTR) by 5.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,038,544 shares of the company’s stock after purchasing an additional 258,268 shares during the period. Bank of New York Mellon Corp’s holdings in Avantor were worth $67,819,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AVTR. Rise Advisors LLC bought a new stake in shares of Avantor during the first quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. grew its stake in Avantor by 288.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,701 shares of the company’s stock valued at $28,000 after acquiring an additional 1,263 shares in the last quarter. Wealthquest Corp bought a new stake in Avantor during the 1st quarter worth approximately $34,000. FNY Investment Advisers LLC purchased a new stake in Avantor in the 2nd quarter worth approximately $36,000. Finally, Spire Wealth Management bought a new position in Avantor in the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 95.08% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gregory L. Summe bought 100,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average cost of $11.25 per share, for a total transaction of $1,125,000.00. Following the acquisition, the director directly owned 300,000 shares of the company’s stock, valued at $3,375,000. The trade was a 50.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

Avantor Price Performance

AVTR stock opened at $11.53 on Monday. The firm has a market cap of $7.86 billion, a P/E ratio of -88.65, a P/E/G ratio of 3.98 and a beta of 1.00. The firm’s fifty day moving average is $13.16 and its 200 day moving average is $13.11. Avantor, Inc. has a 52 week low of $10.82 and a 52 week high of $23.32. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 1.49.

Avantor (NYSE:AVTR) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). Avantor had a negative net margin of 1.25% and a positive return on equity of 10.91%. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company earned $0.26 earnings per share. The business’s quarterly revenue was down 5.3% on a year-over-year basis. Avantor has set its FY 2025 guidance at 0.880-0.920 EPS. Research analysts predict that Avantor, Inc. will post 1.06 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on AVTR. JPMorgan Chase & Co. restated a “neutral” rating and set a $12.00 target price (down from $14.00) on shares of Avantor in a research report on Thursday, October 30th. Robert W. Baird lifted their price target on Avantor from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. UBS Group set a $12.00 price objective on Avantor in a report on Thursday, October 30th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Avantor in a research note on Friday, August 1st. Finally, Barclays reiterated an “equal weight” rating and set a $12.00 target price (down from $15.00) on shares of Avantor in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.42.

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.