Avantor (NYSE:AVTR) Posts Earnings Results, Hits Estimates

Avantor (NYSE:AVTR) released its quarterly earnings data on Friday. The company reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25, Yahoo Finance reports. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. Avantor had a net margin of 5.89% and a return on equity of 17.00%. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.34 EPS. Avantor updated its FY 2023 guidance to $1.02-$1.06 EPS.

Avantor Stock Down 8.7 %

Shares of NYSE:AVTR opened at $17.83 on Monday. Avantor has a one year low of $17.60 and a one year high of $25.25. The company has a 50 day moving average of $21.05 and a 200-day moving average of $20.71. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.61 and a quick ratio of 1.04. The stock has a market cap of $12.05 billion, a price-to-earnings ratio of 33.02, a P/E/G ratio of 1.01 and a beta of 1.28.

Analyst Ratings Changes

Several brokerages recently issued reports on AVTR. Bank of America cut their price target on shares of Avantor from $27.00 to $24.00 and set a “buy” rating for the company in a report on Sunday, July 30th. Robert W. Baird cut their price target on shares of Avantor from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, July 31st. Sanford C. Bernstein began coverage on shares of Avantor in a report on Thursday, September 28th. They set a “market perform” rating and a $22.00 price target for the company. Evercore ISI downgraded shares of Avantor from an “outperform” rating to an “inline” rating and cut their price target for the company from $22.00 to $21.00 in a report on Monday, July 31st. Finally, Royal Bank of Canada lifted their price target on shares of Avantor from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, July 31st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.50.

Insider Transactions at Avantor

In other news, EVP Frederic Vanderhaegen sold 25,000 shares of Avantor stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $21.47, for a total transaction of $536,750.00. Following the completion of the sale, the executive vice president now owns 160,735 shares in the company, valued at approximately $3,450,980.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Steven W. Eck sold 7,577 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $20.64, for a total transaction of $156,389.28. Following the completion of the transaction, the chief accounting officer now owns 28,187 shares in the company, valued at $581,779.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Frederic Vanderhaegen sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $21.47, for a total transaction of $536,750.00. Following the transaction, the executive vice president now owns 160,735 shares of the company’s stock, valued at approximately $3,450,980.45. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. grew its holdings in Avantor by 28.8% during the first quarter. Raymond James Trust N.A. now owns 7,342 shares of the company’s stock valued at $248,000 after purchasing an additional 1,643 shares during the period. Delphia USA Inc. acquired a new position in shares of Avantor in the fourth quarter valued at approximately $233,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Avantor in the second quarter valued at approximately $225,000. Alberta Investment Management Corp acquired a new position in shares of Avantor in the first quarter valued at approximately $222,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Avantor in the second quarter valued at approximately $219,000. Institutional investors and hedge funds own 89.04% of the company’s stock.

About Avantor

Avantor, Inc engages in the provision of mission-critical products and services to customers in 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.