Avantor (NYSE:AVTR) Stock Price Down 3% – Here’s What Happened

Avantor, Inc. (NYSE:AVTR)’s stock price fell 3% on Friday . The stock traded as low as $21.70 and last traded at $21.89. 1,127,393 shares were traded during trading, a decline of 72% from the average session volume of 4,009,236 shares. The stock had previously closed at $22.57.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AVTR shares. UBS Group restated a “neutral” rating and issued a $25.00 target price (down from $29.00) on shares of Avantor in a research note on Friday. Robert W. Baird reduced their price objective on shares of Avantor from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 28th. Wells Fargo & Company lowered their target price on shares of Avantor from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Barclays cut their price target 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, Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 price objective on shares of Avantor in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Avantor presently has a consensus rating of “Moderate Buy” and an average price target of $27.38.

Avantor Trading Down 2.7 %

The company has a current ratio of 1.54, a quick ratio of 1.06 and a debt-to-equity ratio of 0.84. The stock has a market cap of $14.95 billion, a P/E ratio of 47.75, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. The business’s fifty day simple moving average is $21.47 and its 200 day simple moving average is $23.35.

Institutional Trading of Avantor

Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its position in shares of Avantor by 34.1% during the third quarter. Public Employees Retirement System of Ohio now owns 346,822 shares of the company’s stock worth $8,972,000 after acquiring an additional 88,205 shares during the last quarter. Sound Shore Management Inc. CT bought a new position in Avantor in the second quarter valued at approximately $76,412,000. Seven Eight Capital LP acquired a new stake in shares of Avantor during the second quarter worth $642,000. New York State Teachers Retirement System acquired a new position in shares of Avantor during the 3rd quarter worth about $8,473,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Avantor in the 4th quarter valued at about $555,000. 95.08% of the stock is owned by institutional investors.

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.