Jennison Associates LLC Sells 704,059 Shares of Avantor, Inc. (NYSE:AVTR)

Jennison Associates LLC decreased its position in shares of Avantor, Inc. (NYSE:AVTR) by 36.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,244,461 shares of the company’s stock after selling 704,059 shares during the period. Jennison Associates LLC’s holdings in Avantor were worth $26,221,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its stake in Avantor by 99.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,253 shares of the company’s stock valued at $26,000 after purchasing an additional 625 shares during the period. UMB Bank n.a. bought a new position in Avantor in the 3rd quarter worth approximately $49,000. Nisa Investment Advisors LLC lifted its holdings in shares of Avantor by 69.6% during the third quarter. Nisa Investment Advisors LLC now owns 2,035 shares of the company’s stock worth $53,000 after buying an additional 835 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Avantor by 89.9% in the third quarter. GAMMA Investing LLC now owns 2,715 shares of the company’s stock valued at $70,000 after acquiring an additional 1,285 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Avantor by 278.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,031 shares of the company’s stock worth $130,000 after acquiring an additional 3,700 shares during the last quarter. 95.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AVTR shares. UBS Group reiterated a “neutral” rating and set a $25.00 target price (down from $29.00) on shares of Avantor in a research note on Friday, January 17th. Raymond James cut their price objective on shares of Avantor from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Tuesday, January 21st. Wells Fargo & Company decreased their target price on Avantor from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Robert W. Baird cut their price target on Avantor from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 28th. Finally, Barclays lifted their price objective on Avantor from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Avantor presently has an average rating of “Moderate Buy” and an average target price of $27.46.

Avantor Stock Performance

Avantor stock opened at $22.03 on Wednesday. Avantor, Inc. has a 52-week low of $19.59 and a 52-week high of $28.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.06. The stock has a fifty day moving average price of $21.71 and a two-hundred day moving average price of $23.47. The firm has a market capitalization of $14.99 billion, a P/E ratio of 47.88, a P/E/G ratio of 3.97 and a beta of 1.28.

About Avantor

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.