Avantor (NYSE:AVTR) Announces Quarterly Earnings Results

Avantor (NYSE:AVTRGet Rating) issued its quarterly earnings results on Thursday. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02, MarketWatch Earnings reports. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Avantor had a net margin of 7.53% and a return on equity of 35.81%. Avantor’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share.

Shares of AVTR stock traded up $2.09 during trading on Friday, hitting $31.88. The company’s stock had a trading volume of 14,447,138 shares, compared to its average volume of 6,151,214. The company has a market cap of $19.45 billion, a PE ratio of 35.82, a P/E/G ratio of 0.64 and a beta of 1.62. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 2.19. The business has a fifty day moving average of $33.00 and a 200-day moving average of $36.51. Avantor has a 52 week low of $28.64 and a 52 week high of $44.37.

Several equities analysts have weighed in on AVTR shares. Cowen lowered their target price on Avantor from $50.00 to $44.00 in a research note on Tuesday, April 19th. Robert W. Baird reduced their target price on Avantor from $44.00 to $43.00 in a report on Monday, February 7th. Evercore ISI cut their price target on Avantor from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, April 4th. Barclays boosted their price objective on Avantor from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, February 7th. Finally, Citigroup cut Avantor from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $48.00 to $38.00 in a research report on Monday, April 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $43.13.

In other Avantor news, EVP Gerard Brophy sold 2,027 shares of the stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $34.47, for a total transaction of $69,870.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Several hedge funds have recently modified their holdings of AVTR. Mackenzie Financial Corp grew its stake in shares of Avantor by 1.8% in the fourth quarter. Mackenzie Financial Corp now owns 36,002 shares of the company’s stock worth $1,517,000 after purchasing an additional 629 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in shares of Avantor by 3.1% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 40,069 shares of the company’s stock valued at $1,689,000 after purchasing an additional 1,188 shares during the last quarter. JustInvest LLC lifted its holdings in shares of Avantor by 12.8% during the fourth quarter. JustInvest LLC now owns 12,605 shares of the company’s stock valued at $531,000 after purchasing an additional 1,433 shares during the last quarter. KB Financial Partners LLC purchased a new position in Avantor in the 4th quarter worth approximately $68,000. Finally, LPL Financial LLC raised its holdings in Avantor by 9.9% in the 4th quarter. LPL Financial LLC now owns 32,426 shares of the company’s stock worth $1,366,000 after acquiring an additional 2,927 shares during the last quarter. Institutional investors own 92.46% of the company’s stock.

About Avantor (Get Rating)

Avantor, Inc provides 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.

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Earnings History for Avantor (NYSE:AVTR)

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