PGGM Investments Purchases New Stake in Avantor, Inc. (NYSE:AVTR)

PGGM Investments bought a new position in shares of Avantor, Inc. (NYSE:AVTR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,210 shares of the company’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Graypoint LLC raised its holdings in Avantor by 3.8% in the 1st quarter. Graypoint LLC now owns 11,414 shares of the company’s stock valued at $292,000 after acquiring an additional 423 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in Avantor by 2.0% in the fourth quarter. Vontobel Holding Ltd. now owns 30,215 shares of the company’s stock worth $690,000 after acquiring an additional 591 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Avantor by 3.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,725 shares of the company’s stock worth $427,000 after acquiring an additional 685 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Avantor by 2.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 26,921 shares of the company’s stock worth $571,000 after purchasing an additional 733 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Avantor by 1.6% in the fourth quarter. Mackenzie Financial Corp now owns 46,610 shares of the company’s stock worth $1,064,000 after purchasing an additional 747 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.

Avantor Stock Performance

Shares of NYSE AVTR traded down $0.18 during midday trading on Wednesday, hitting $25.06. 3,406,687 shares of the stock traded hands, compared to its average volume of 7,009,361. Avantor, Inc. has a one year low of $16.63 and a one year high of $28.00. The firm has a 50-day moving average of $22.74 and a two-hundred day moving average of $23.96. The firm has a market capitalization of $17.02 billion, a P/E ratio of 64.26, a PEG ratio of 2.71 and a beta of 1.32. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.05 and a current ratio of 1.59.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. TD Cowen increased their price objective on Avantor from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, July 29th. Barclays raised their price target on Avantor from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on Avantor from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, April 18th. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price target on shares of Avantor in a report on Monday, July 29th. Finally, Morgan Stanley lifted their price objective on Avantor from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.21.

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.