Avantor (NYSE:AVTR) Stock Breaks Above 50-Day Moving Average – What’s Next?

Avantor, Inc. (NYSE:AVTR)’s share price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $15.62 and traded as high as $15.95. Avantor shares last traded at $15.8970, with a volume of 8,124,861 shares.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AVTR shares. Royal Bank Of Canada increased their price objective on Avantor from $14.00 to $17.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 28th. Evercore set a $17.00 target price on shares of Avantor in a report on Wednesday, October 28th. Morgan Stanley boosted their target price on Avantor from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 13th. Wolfe Research upgraded shares of Avantor from a “strong sell” rating to a “hold” rating in a report on Thursday, July 30th. Finally, Deutsche Bank reissued a “hold” rating and issued a $17.00 price objective on shares of Avantor in a research note on Thursday, October 29th. Two investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Avantor presently has an average rating of “Hold” and a consensus target price of $14.77.

Avantor Price Performance

The company has a market capitalization of $10.68 billion, a P/E ratio of 18.99, a PEG ratio of 7.04 and a beta of 0.95. The stock’s fifty day simple moving average is $15.68 and its 200-day simple moving average is $11.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.89 and a quick ratio of 1.27.

Avantor (NYSE:AVTR) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. Avantor had a return on equity of 9.79% and a net margin of 5.08%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. On average, equities analysts forecast that Avantor, Inc. will post 0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avantor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Avantor in the 3rd quarter valued at $26,000. Elevation Wealth Partners LLC raised its stake in shares of Avantor by 72.3% in the third quarter. Elevation Wealth Partners LLC now owns 2,803 shares of the company’s stock worth $42,000 after acquiring an additional 1,176 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Avantor in the 3rd quarter worth approximately $56,000. Global Retirement Partners LLC raised its position in shares of Avantor by 236.5% during the third quarter. Global Retirement Partners LLC now owns 3,702 shares of the company’s stock worth $56,000 after acquiring an additional 2,602 shares during the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of Avantor during the third quarter worth $57,000. 95.08% of the stock is currently owned by institutional investors.

About Avantor

Avantor, Inc. is a global provider of products and services used in life sciences, advanced technology and applied materials. Its customers include biopharmaceutical and healthcare companies, laboratories, universities and manufacturers. The company supplies chemicals, reagents, laboratory consumables and equipment, as well as materials used in biopharmaceutical production. Avantor also provides services such as procurement, inventory management and support for laboratory and production operations.