Jennison Associates LLC Decreases Stock Holdings in Avantor, Inc. (NYSE:AVTR)

Jennison Associates LLC cut its stake in Avantor, Inc. (NYSE:AVTR) by 44.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,948,520 shares of the company’s stock after selling 1,585,669 shares during the period. Jennison Associates LLC owned approximately 0.29% of Avantor worth $50,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in AVTR. Versant Capital Management Inc grew its holdings in Avantor by 2,003.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,157 shares of the company’s stock valued at $25,000 after buying an additional 1,102 shares in the last quarter. Blue Trust Inc. increased its position in Avantor by 1,830.3% during the second quarter. Blue Trust Inc. now owns 1,467 shares of the company’s stock worth $31,000 after purchasing an additional 1,391 shares during the last quarter. UMB Bank n.a. purchased a new position in Avantor during the third quarter worth about $49,000. Nisa Investment Advisors LLC boosted its holdings in Avantor by 69.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,035 shares of the company’s stock valued at $53,000 after purchasing an additional 835 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Avantor by 89.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,715 shares of the company’s stock worth $70,000 after buying an additional 1,285 shares during the last quarter. Institutional investors and hedge funds own 95.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays lowered their price objective on Avantor from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Morgan Stanley boosted their price objective on shares of Avantor from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 target price on shares of Avantor in a research note on Thursday, September 26th. Robert W. Baird reduced their price target on shares of Avantor from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. Finally, TD Cowen lifted their target price on shares of Avantor from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.57.

Insider Buying and Selling at Avantor

In related news, CAO Steven W. Eck sold 3,525 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 29,544 shares of the company’s stock, valued at approximately $740,372.64. This trade represents a 10.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is currently owned by insiders.

Avantor Trading Up 1.1 %

Shares of Avantor stock opened at $20.36 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.06 and a current ratio of 1.54. The company has a market capitalization of $13.86 billion, a P/E ratio of 44.26, a PEG ratio of 2.39 and a beta of 1.35. Avantor, Inc. has a 1 year low of $19.59 and a 1 year high of $28.00. The company’s fifty day moving average is $24.01 and its two-hundred day moving average is $23.89.

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.