Connor Clark & Lunn Investment Management Ltd. Has $13.77 Million Holdings in Avantor, Inc. (NYSE:AVTR)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Avantor, Inc. (NYSE:AVTR) by 1,802.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 532,365 shares of the company’s stock after acquiring an additional 504,384 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Avantor were worth $13,772,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC lifted its holdings in shares of Avantor by 1.8% during the second quarter. Intech Investment Management LLC now owns 29,068 shares of the company’s stock worth $616,000 after buying an additional 514 shares in the last quarter. Arizona State Retirement System raised its stake in Avantor by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 186,567 shares of the company’s stock worth $3,955,000 after purchasing an additional 528 shares in the last quarter. Veracity Capital LLC boosted its holdings in Avantor by 1.0% in the 3rd quarter. Veracity Capital LLC now owns 52,359 shares of the company’s stock valued at $1,355,000 after purchasing an additional 543 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Avantor by 2.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,921 shares of the company’s stock worth $571,000 after purchasing an additional 733 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Avantor by 6.2% during the third quarter. US Bancorp DE now owns 12,615 shares of the company’s stock worth $326,000 after purchasing an additional 734 shares during the period. 95.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVTR. UBS Group dropped their price objective on Avantor from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. Stifel Nicolaus upped their price objective on shares of Avantor from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Robert W. Baird decreased their target price 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. TD Cowen upped their price target on shares of Avantor from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company decreased their price objective 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. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.57.

Avantor Price Performance

AVTR opened at $20.36 on Friday. The firm has a 50-day moving average price of $24.01 and a 200-day moving average price of $23.89. Avantor, Inc. has a twelve month low of $19.59 and a twelve month high of $28.00. The company has a quick ratio of 1.06, a current ratio of 1.54 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $13.86 billion, a price-to-earnings ratio of 44.26, a PEG ratio of 2.39 and a beta of 1.35.

Insiders Place Their Bets

In other Avantor news, CAO Steven W. Eck sold 3,525 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $25.06, for a total value of $88,336.50. Following the sale, the chief accounting officer now owns 29,544 shares of the company’s stock, valued at $740,372.64. This trade represents a 10.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is owned by corporate insiders.

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.