Mirae Asset Global Investments Co. Ltd. Purchases 2,881 Shares of Avantor, Inc. $AVTR

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Avantor, Inc. (NYSE:AVTR) by 9.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,424 shares of the company’s stock after buying an additional 2,881 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Avantor were worth $463,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in Avantor during the 1st quarter valued at $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in Avantor by 288.4% during the 1st 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 bought a new stake in Avantor during the 1st quarter valued at $34,000. GAMMA Investing LLC raised its holdings in Avantor by 121.6% during the 1st 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. Finally, Fifth Third Bancorp raised its holdings in Avantor by 52.0% during the 1st 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. 95.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Steven W. Eck sold 3,476 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $11.39, for a total transaction of $39,591.64. Following the sale, the chief accounting officer directly owned 55,068 shares of the company’s stock, valued at approximately $627,224.52. This represents a 5.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley reduced their price objective on shares of Avantor from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, August 4th. Raymond James Financial set a $14.00 price objective on shares of Avantor and gave the company an “outperform” rating in a research report on Monday, August 4th. Robert W. Baird reduced their price objective on shares of Avantor from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, August 4th. Barclays boosted their price objective on shares of Avantor from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Avantor from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Avantor has a consensus rating of “Hold” and an average target price of $15.65.

Avantor Stock Down 1.0%

NYSE:AVTR opened at $13.41 on Friday. The firm’s 50-day moving average price is $12.79 and its 200-day moving average price is $13.43. The company has a market capitalization of $9.14 billion, a PE ratio of 13.54, a P/E/G ratio of 4.41 and a beta of 0.98. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.67. Avantor, Inc. has a 1-year low of $10.82 and a 1-year high of $26.14.

Avantor (NYSE:AVTR) last released its earnings results on Friday, August 1st. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Avantor had a return on equity of 11.39% and a net margin of 10.31%.The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts predict that Avantor, Inc. will post 1.06 EPS for the current fiscal year.

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.