PNC Financial Services Group Inc. Decreases Holdings in Avantor, Inc. $AVTR

PNC Financial Services Group Inc. trimmed its holdings in Avantor, Inc. (NYSE:AVTR) by 11.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 46,534 shares of the company’s stock after selling 6,010 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Avantor were worth $626,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in Avantor in the 1st quarter worth $25,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 buying an additional 1,263 shares during the last quarter. Wealthquest Corp purchased a new position in shares of Avantor in the first quarter worth about $34,000. FNY Investment Advisers LLC purchased a new position in shares of Avantor in the second quarter worth about $36,000. Finally, Spire Wealth Management bought a new stake in shares of Avantor in the 2nd quarter valued at about $47,000. Institutional investors own 95.08% of the company’s stock.

Avantor Price Performance

AVTR opened at $11.55 on Friday. 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, Inc. has a 52-week low of $10.82 and a 52-week high of $23.32. The stock has a market capitalization of $7.87 billion, a PE ratio of -88.81, a price-to-earnings-growth ratio of 3.96 and a beta of 1.00. The stock’s 50 day moving average price is $12.82 and its 200-day moving average price is $12.99.

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

Insider Activity at Avantor

In related news, Director Gregory L. Summe purchased 100,000 shares of Avantor stock in a transaction that occurred on Thursday, October 30th. The shares were bought at an average price of $11.25 per share, for a total transaction of $1,125,000.00. Following the completion of the transaction, the director directly owned 300,000 shares of the company’s stock, valued at $3,375,000. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Evercore ISI reduced their price target on Avantor from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Raymond James Financial downgraded Avantor from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 4th. Morgan Stanley cut their target price on shares of Avantor from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, August 4th. Robert W. Baird lifted their target price on shares of Avantor from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Finally, Royal Bank Of Canada lowered their price target on shares of Avantor from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, August 4th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.42.

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.