Avantor, Inc. (NYSE:AVTR) Stock Holdings Cut by Jennison Associates LLC

Jennison Associates LLC decreased its holdings in shares of Avantor, Inc. (NYSE:AVTR) by 44.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,948,520 shares of the company’s stock after selling 1,585,669 shares during the period. Jennison Associates LLC’s holdings in Avantor were worth $50,408,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Avantor during the 1st quarter valued at about $159,000. Acadian Asset Management LLC raised its holdings in Avantor by 45.8% in the 1st quarter. Acadian Asset Management LLC now owns 22,678 shares of the company’s stock worth $579,000 after acquiring an additional 7,120 shares during the period. UniSuper Management Pty Ltd lifted its position in shares of Avantor by 97.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 9,500 shares of the company’s stock worth $243,000 after purchasing an additional 4,700 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Avantor by 0.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 553,982 shares of the company’s stock worth $14,168,000 after buying an additional 3,038 shares during the last quarter. Finally, Quadrature Capital Ltd raised its stake in Avantor by 45.3% during the 1st quarter. Quadrature Capital Ltd now owns 18,265 shares of the company’s stock valued at $467,000 after purchasing an additional 5,695 shares during the last quarter. Institutional investors and hedge funds own 95.08% of the company’s stock.

Wall Street Analyst Weigh In

AVTR has been the subject of several research reports. Robert W. Baird reduced their target price on Avantor from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. Barclays lowered their target price on Avantor from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Morgan Stanley increased 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. Royal Bank of Canada reiterated an “outperform” rating and set a $34.00 price target on shares of Avantor in a research report on Thursday, September 26th. Finally, UBS Group dropped their price objective on Avantor from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $27.57.

Insider Activity at Avantor

In other news, CAO Steven W. Eck sold 3,525 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $25.06, for a total value of $88,336.50. Following the sale, the chief accounting officer now directly owns 29,544 shares of the company’s stock, valued at $740,372.64. This represents a 10.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.

Avantor Trading Up 1.1 %

Shares of AVTR opened at $20.36 on Friday. The company has a market capitalization of $13.86 billion, a P/E ratio of 44.26, a P/E/G ratio of 2.39 and a beta of 1.35. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.06. Avantor, Inc. has a 1-year low of $19.59 and a 1-year high of $28.00. The firm’s 50 day simple moving average is $24.01 and its 200 day simple moving average is $23.89.

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.