Avantor Inc (NYSE:AVTR) Expected to Announce Quarterly Sales of $1.53 Billion

Equities research analysts forecast that Avantor Inc (NYSE:AVTR) will announce sales of $1.53 billion for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Avantor’s earnings, with the highest sales estimate coming in at $1.55 billion and the lowest estimate coming in at $1.50 billion. Avantor reported sales of $1.50 billion during the same quarter last year, which would indicate a positive year over year growth rate of 2%. The business is scheduled to issue its next quarterly earnings results on Tuesday, November 3rd.

On average, analysts expect that Avantor will report full-year sales of $6.10 billion for the current fiscal year, with estimates ranging from $6.04 billion to $6.14 billion. For the next financial year, analysts anticipate that the firm will post sales of $6.45 billion, with estimates ranging from $6.37 billion to $6.51 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Avantor.

Avantor (NYSE:AVTR) last released its earnings results on Wednesday, July 29th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year.

A number of research analysts have issued reports on AVTR shares. Truist Financial lifted their target price on Avantor from $21.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. They noted that the move was a valuation call. Zacks Investment Research cut Avantor from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price target on Avantor from $18.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Stifel Nicolaus boosted their price target on Avantor from $18.00 to $21.50 and gave the stock a “hold” rating in a report on Thursday, July 30th. Finally, Cleveland Research upgraded Avantor from a “neutral” rating to a “buy” rating in a report on Wednesday, July 15th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Avantor currently has an average rating of “Buy” and a consensus price target of $21.43.

Avantor stock traded down $0.48 during midday trading on Tuesday, reaching $22.31. The company’s stock had a trading volume of 4,518,047 shares, compared to its average volume of 4,104,697. Avantor has a 52 week low of $6.66 and a 52 week high of $23.38. The business has a 50-day moving average price of $21.68 and a 200-day moving average price of $17.48. The stock has a market cap of $12.86 billion, a PE ratio of 97.00, a price-to-earnings-growth ratio of 1.45 and a beta of 2.05.

In other news, EVP Justin Miller sold 22,887 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $21.17, for a total transaction of $484,517.79. Following the transaction, the executive vice president now directly owns 113,507 shares in the company, valued at approximately $2,402,943.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder New Mountain Investments Iii, sold 25,575,472 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $19.51, for a total value of $498,977,458.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,065,364 shares of company stock worth $801,411,194. Insiders own 1.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Holdings Inc. bought a new position in Avantor during the 1st quarter worth approximately $54,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Avantor in the 2nd quarter worth approximately $73,000. Canada Pension Plan Investment Board bought a new stake in shares of Avantor in the 2nd quarter worth approximately $73,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Avantor in the 2nd quarter worth approximately $80,000. Finally, American International Group Inc. grew its position in shares of Avantor by 32.8% in the 1st quarter. American International Group Inc. now owns 6,571 shares of the company’s stock worth $82,000 after buying an additional 1,622 shares during the last quarter. Institutional investors and hedge funds own 83.03% of the company’s stock.

About Avantor

Avantor, Inc is a provider of mission critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. It sells materials & consumables, equipment & instrumentation and services & specialty procurement. It operates in more than 30 countries and deliver an extensive portfolio of products and services.

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