Tandem Capital Management Corp ADV Cuts Position in Avantor, Inc. (NYSE:AVTR)

Tandem Capital Management Corp ADV lowered its stake in shares of Avantor, Inc. (NYSE:AVTR) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,142 shares of the company’s stock after selling 5,310 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in Avantor were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVTR. 1832 Asset Management L.P. lifted its holdings in shares of Avantor by 1,634.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 8,530,118 shares of the company’s stock valued at $180,839,000 after purchasing an additional 8,038,451 shares during the last quarter. CCLA Investment Management grew its stake in shares of Avantor by 147,220.3% during the first quarter. CCLA Investment Management now owns 4,720,144 shares of the company’s stock worth $120,828,000 after acquiring an additional 4,716,940 shares during the last quarter. Sound Shore Management Inc. CT acquired a new position in shares of Avantor during the second quarter valued at about $76,412,000. Canada Pension Plan Investment Board raised its position in shares of Avantor by 6.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 22,927,325 shares of the company’s stock valued at $486,059,000 after purchasing an additional 1,463,695 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in Avantor during the 1st quarter worth approximately $35,154,000. Hedge funds and other institutional investors own 95.08% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Steven W. Eck sold 3,525 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $25.06, for a total value of $88,336.50. Following the completion of the sale, the chief accounting officer now directly owns 29,544 shares in the company, valued at $740,372.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AVTR shares. Robert W. Baird lowered their price objective on shares of Avantor from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday. Citigroup lowered Avantor from a “buy” rating to a “neutral” rating and cut their price objective for the company from $30.00 to $23.00 in a report on Wednesday, July 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 target price on shares of Avantor in a report on Thursday, September 26th. UBS Group cut their price target on shares of Avantor from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Avantor from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.57.

Avantor Trading Down 0.3 %

AVTR stock opened at $22.45 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.59 and a debt-to-equity ratio of 0.89. Avantor, Inc. has a 52-week low of $17.06 and a 52-week high of $28.00. The company’s 50-day simple moving average is $25.32 and its 200-day simple moving average is $24.21. The firm has a market cap of $15.25 billion, a P/E ratio of 57.56, a PEG ratio of 2.93 and a beta of 1.33.

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.