Portside Wealth Group LLC Invests $260,000 in Avantor, Inc. (NYSE:AVTR)

Portside Wealth Group LLC acquired a new stake in Avantor, Inc. (NYSE:AVTR) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 10,049 shares of the company’s stock, valued at approximately $260,000.

Other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Avantor by 12.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,677 shares of the company’s stock worth $2,088,000 after buying an additional 8,812 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in Avantor by 1.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 71,743 shares of the company’s stock valued at $1,834,000 after acquiring an additional 918 shares in the last quarter. Empowered Funds LLC acquired a new position in Avantor in the 1st quarter worth $250,000. SG Americas Securities LLC bought a new position in Avantor during the 1st quarter worth about $159,000. Finally, Sei Investments Co. raised its stake in shares of Avantor by 15.8% in the 1st quarter. Sei Investments Co. now owns 679,819 shares of the company’s stock valued at $17,383,000 after purchasing an additional 92,877 shares during the period. Institutional investors and hedge funds own 95.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on Avantor from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 price target on shares of Avantor in a research note on Thursday, September 26th. Robert W. Baird cut their price objective on shares of Avantor from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. Barclays reduced their price objective on shares of Avantor from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, TD Cowen raised their target price on shares of Avantor from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.57.

Insider Activity

In related news, CAO Steven W. Eck sold 3,525 shares of the business’s stock in a transaction on 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 owns 29,544 shares of the company’s stock, valued at $740,372.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.50% of the company’s stock.

Avantor Stock Down 1.7 %

Shares of NYSE AVTR opened at $22.59 on Friday. The company has a 50 day simple moving average of $24.91 and a 200 day simple moving average of $24.12. 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 $18.08 and a 1 year high of $28.00. The firm has a market cap of $15.38 billion, a PE ratio of 49.11, a price-to-earnings-growth ratio of 2.78 and a beta of 1.35.

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.