Nordea Investment Management AB, a prominent investment management firm, recently decreased its stake in Avantor, Inc. (NYSE: AVTR) by 13.5% during the second quarter of the year. According to the company’s latest filing with the Securities & Exchange Commission (SEC), it now owns 465,095 shares of Avantor’s stock after selling 72,322 shares. The total value of Nordea Investment Management AB’s stake in Avantor amounts to $9,511,000.
Avantor is a leading global provider of mission-critical products and services to customers in the life sciences and advanced technologies industries. The company operates in more than 30 countries and serves a diverse range of customers including biopharmaceutical companies, hospitals, universities, research institutions, and more.
On September 20th, 2023, it was revealed that Avantor had reported its quarterly earnings data as of Friday, July 28th. The company’s earnings per share (EPS) for the quarter stood at $0.28, falling short of analysts’ consensus estimates of $0.29 by $0.01. Despite this slight miss, Avantor generated revenue worth $1.74 billion during this quarter; however, this figure fell short compared to analyst estimates of $1.80 billion.
Looking at the financial performance indicators further reveals that Avantor achieved a return on equity of 17%, indicating solid efficiency in utilizing shareholders’ investments. Additionally, the company recorded a net margin of 5.89%, reflecting its ability to generate profit after accounting for all expenses.
It is worth noting that Avantor experienced an 8.7% decline in quarterly revenue compared to the same period last year. In the prior year’s equivalent quarter, the company had reported earnings per share amounting to $0.37.
Equities research analysts predict that Avantor will post an EPS of 1.07 for the current fiscal year. As such, investors and stakeholders are monitoring the company’s financial results closely to gain insights into its performance and prospects.
Avantor’s focus on providing critical products and services to industries at the forefront of scientific advancements positions it as a key player in the global market. With an extensive global presence and a customer base that includes esteemed organizations within the life sciences and advanced technologies sectors, Avantor is well-positioned to navigate changing market dynamics and capitalize on emerging opportunities.
As Nordea Investment Management AB adjusts its stake in Avantor, it will be interesting to see how this impacts the company’s future trajectory. Investors, analysts, and industry observers will continue to evaluate Avantor’s financial performance and strategic moves to make informed decisions about their investment portfolios.
Noteworthy Changes in Avantor, Inc.’s Institutional Holdings and Analyst Ratings Revealed
On September 20, 2023, Avantor, Inc. experienced some noteworthy changes in its institutional holdings. Several institutional investors made modifications to their positions in the company, leading to an increase in shares and investments.
One of the notable institutional investors who changed their holdings was Raymond James Financial Services Advisors Inc. During the first quarter, this institution raised its holdings in Avantor by a startling 43.5%. With this increase, Raymond James Financial Services Advisors Inc. now owns 27,092 shares of Avantor’s stock, which are worth approximately $916,000. This change was prompted by the acquisition of an additional 8,211 shares during that period.
MetLife Investment Management LLC also entered the scene during the first quarter by acquiring a new stake in Avantor. The investment is valued at about $1,318,000 and demonstrates MetLife’s confidence in the company’s potential for growth and success.
The panache continued with Panagora Asset Management Inc., which increased its position in Avantor by an impressive 67.9% during the first quarter. With a current ownership of 19,061 shares in Avantor’s stock valued at $645,000 approximately; Panagora Asset Management Inc. has undoubtedly struck interest within the financial markets.
Yousif Capital Management LLC further showcased their belief in Avantor as they increased their position by 7.9% during the first quarter. Their current holding stands at 8,870 shares valued at $300,000 approximately after acquiring an additional 650 shares.
Raymond James Trust N.A., another significant institutional investor joined the bandwagon as it increased its position by 28.8% during that same period.This corporate entity now owns 7,342 shares worth $248,000 after acquiring an additional 1,643 shares.
It is important to note that hedge funds and other institutional investors hold a significant portion specifically around 89.04% of Avantor’s stock. This indicates a high degree of interest and trust in the company’s performance and future growth prospects.
Recent analyst reports shed further light on Avantor’s standing in the market. Barclays recently raised their price objective on the company from $22.00 to $23.00, giving it an “overweight” rating in their research report dated July 31st. Similarly, Robert W. Baird maintained that Avantor deserves an “outperform” rating despite cutting their price objective from $24.00 to $22.00 in the same research report.
William Blair, however, downgraded Avantor from an “outperform” rating to a “market perform” rating during this period. This indicates a certain level of neutrality towards the potential growth of Avantor.
Morgan Stanley also showed cautiousness by dropping their target price for Avantor stock from $26.00 to $24.00, while still giving it an “overweight” rating in their report dated July 31st.
On the contrary, Royal Bank of Canada revealed a bullish sentiment as they lifted their target price on Avantor from $27.00 to $28.00 and gave the company an “outperform” rating.
Overall, out of twelve research analysts who assessed Avantor’s stock, three rated it as a hold, while nine rated it as a buy recommendation according to Bloomberg sources.Hence achieving an average rating of “Moderate Buy.” The average price target was estimated to be $26.07 at that time highlighting its potential for growth and positive outlook among analysts.
In related news regarding insider trading transactions within the company, CAO Steven W.Eck sold 7,577 shares of Avantor on September 7th at an average price of $20.64 per share – yielding a total transaction amounting to approximately $156,389.28.Similarly, EVP Frederic Vanderhaegen proceeded to sell 25,000 shares of Avantor’s stock on August 25th at an average price of $21.47 per share totaling $536,750.00.
After the completion of these sales, Steven W. Eck is now left with 28,187 shares valued at approximately $581,779.68 as the company’s chief accounting officer.Meanwhile, Frederic Vanderhaegen’s remaining holdings account for 160,735 shares valued around $3,450,980.45 as Avantor’s executive vice president.
These transactions were duly disclosed in documents filed with the Securities and Exchange Commission (SEC). The detailed disclosures are available on the SEC website for further examination and transparency.
Furthermore, it is worth noting that approximately 1.50% of Avantor’s stock is owned by company insiders specifically those individuals involved in the aforementioned transactions.The involvement of insiders in trading activities can provide insights into their outlook on the company.
As of September 20th, Avantor’s stock opened at $21.58 showcasing a stable opening rate for that day.Previously over one year period till date from Septemeber 20th 2023;Avantor has demonstrated a one-year low of $17.