Avantor (NYSE:AVTR) Price Target Lowered to $26.00 at Raymond James

Avantor (NYSE:AVTR) had its price target cut by Raymond James from $29.00 to $26.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Barclays reduced their price target on Avantor from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Robert W. Baird reduced their target price on Avantor from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. Wells Fargo & Company reduced their target price on Avantor from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 target price on shares of Avantor in a report on Thursday, September 26th. Finally, UBS Group reiterated a “neutral” rating and issued a $25.00 target price (down from $29.00) on shares of Avantor in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Avantor currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.38.

Avantor Stock Performance

NYSE:AVTR opened at $21.74 on Tuesday. The stock has a market cap of $14.79 billion, a P/E ratio of 47.25, a price-to-earnings-growth ratio of 3.51 and a beta of 1.28. 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’s 50-day moving average is $21.45 and its 200-day moving average is $23.40. Avantor has a 1-year low of $19.59 and a 1-year high of $28.00.

Hedge Funds Weigh In On Avantor

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Avantor by 58.0% during the third quarter. State Street Corp now owns 22,368,244 shares of the company’s stock worth $578,666,000 after purchasing an additional 8,206,695 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Avantor by 653.0% during the third quarter. The Manufacturers Life Insurance Company now owns 6,174,736 shares of the company’s stock worth $159,740,000 after purchasing an additional 5,354,678 shares during the period. FMR LLC raised its position in shares of Avantor by 557.2% during the third quarter. FMR LLC now owns 4,675,283 shares of the company’s stock worth $120,950,000 after purchasing an additional 3,963,912 shares during the period. Janus Henderson Group PLC raised its position in shares of Avantor by 18.2% during the third quarter. Janus Henderson Group PLC now owns 17,692,705 shares of the company’s stock worth $457,710,000 after purchasing an additional 2,719,615 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Avantor by 146.5% during the third quarter. Principal Financial Group Inc. now owns 2,628,372 shares of the company’s stock worth $67,996,000 after purchasing an additional 1,562,018 shares during the period. 95.08% of the stock is owned by institutional investors and hedge funds.

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.