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

Avantor (NYSE:AVTR) had its price target lowered by Raymond James from $29.00 to $26.00 in a research note issued to investors on Tuesday,Benzinga reports. Raymond James currently has an outperform rating on the stock.

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

Avantor Price Performance

AVTR stock opened at $21.89 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.06 and a current ratio of 1.54. Avantor has a 52 week low of $19.59 and a 52 week high of $28.00. The firm’s fifty day moving average is $21.46 and its 200 day moving average is $23.39. The firm has a market cap of $14.90 billion, a P/E ratio of 47.59, a P/E/G ratio of 3.48 and a beta of 1.28.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. State Street Corp lifted its position in Avantor by 58.0% during the 3rd quarter. State Street Corp now owns 22,368,244 shares of the company’s stock valued at $578,666,000 after acquiring an additional 8,206,695 shares during the period. Janus Henderson Group PLC lifted its position in Avantor by 18.2% during the 3rd quarter. Janus Henderson Group PLC now owns 17,692,705 shares of the company’s stock valued at $457,710,000 after acquiring an additional 2,719,615 shares during the period. Geode Capital Management LLC raised its holdings in Avantor by 7.1% in the third quarter. Geode Capital Management LLC now owns 11,150,788 shares of the company’s stock worth $287,791,000 after buying an additional 739,667 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Avantor by 653.0% in the third quarter. The Manufacturers Life Insurance Company now owns 6,174,736 shares of the company’s stock worth $159,740,000 after buying an additional 5,354,678 shares during the last quarter. Finally, CCLA Investment Management raised its holdings in Avantor by 4.5% in the fourth quarter. CCLA Investment Management now owns 5,357,703 shares of the company’s stock worth $112,940,000 after buying an additional 229,199 shares during the last quarter. 95.08% of the stock is owned by hedge funds and other 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.