Key Takeaways
- Baird has maintained its Outperform recommendation for Avantor (NYSE:AVTR), as reported by Fintel on May 1, 2023.
- The average one-year price target for Avantor stands at $27.54, suggesting a potential upside of 36.07% from its current closing price.
- Analysts project Avantor’s annual revenue to reach $7,629 million, an increase of 3.90%, with a non-GAAP EPS of $1.45.
- Fund sentiment indicates a bullish outlook, with a put/call ratio of 0.53 and notable holdings by institutions like T. Rowe Price Investment Management.
Baird Maintains Outperform Rating on Avantor
On May 1, 2023, Baird reaffirmed its Outperform recommendation for Avantor (NYSE:AVTR), according to data from Fintel. This analyst rating offers a view into the potential performance of the company’s stock in the coming year.
Analyst Price Forecast and Potential Upside
The market is looking favorably upon Avantor, with the average one-year price target set at $27.54 as of April 24, 2023. This target range spans from a low of $20.20 to a high of $31.50. Reflecting on Avantor’s latest reported closing price of $20.24, the average price target suggests a significant potential upside of 36.07%.
Financial Projections for Avantor
Beyond the stock price forecast, financial analysts anticipate robust performance from Avantor. The projected annual revenue for the company is $7,629 million, representing a growth of 3.90%. Furthermore, the projected annual non-GAAP Earnings Per Share (EPS) is $1.45, indicating expected profitability.
Fund Sentiment and Investor Positioning
Tracking institutional investor activity provides further insights into Avantor’s market perception. Currently, 947 funds or institutions report holdings in Avantor. While this represents a slight decrease of 47 owners, or 4.73%, in the last quarter, the average portfolio weight dedicated to AVTR remains significant at 0.31%.
💡 Total shares owned by institutions have seen a decrease of 4.03% over the past three months, now standing at 686,539K shares. However, a bullish signal is observed in Avantor’s put/call ratio, which stands at 0.53.
Key Institutional Holdings and Activity
Examining the actions of major shareholders reveals strategic shifts in their investments in Avantor. Several prominent institutions have adjusted their positions in the recent quarter, indicating evolving investment strategies.
T. Rowe Price Investment Management
T. Rowe Price Investment Management holds 76,326K shares, equating to 11.31% ownership. Notably, this firm increased its stake by 24.52% compared to its prior filing, adding 18,712K shares. Their portfolio allocation to AVTR also saw a substantial increase of 36.91% over the last quarter.
Price T Rowe Associates
Price T Rowe Associates possesses 38,913K shares, representing 5.76% ownership. This entity decreased its holdings by 8.98%, shedding 3,493K shares from its previous filing. The firm reduced its portfolio allocation in AVTR by 3.05% in the past quarter.
T. Rowe Price Capital Appreciation Fund (PRWCX)
The T. Rowe Price Capital Appreciation Fund (PRWCX) holds 25,321K shares, making up 3.75% of the company’s ownership. This fund significantly increased its investment, reporting an addition of 9,786K shares, a jump of 38.65%. Their portfolio allocation for AVTR surged by 71.03% last quarter.
Canada Pension Plan Investment Board
Canada Pension Plan Investment Board maintains a stake of 24,557K shares, or 3.64% ownership. This represents a modest increase of 1.21% from their previous filing, equivalent to adding 300K shares. Their portfolio allocation to AVTR grew by 13.61% over the last quarter.
Vanguard Total Stock Market Index Fund Investor Shares (VTSMX)
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 19,471K shares, accounting for 2.88% ownership. The fund increased its position by 7.21%, adding 1,404K shares. Their portfolio allocation to AVTR saw a 7.09% rise in the preceding quarter.
Avantor: A Global Provider of Mission-Critical Products and Services
Avantor®, a Fortune 500 company, operates as a leading global provider of essential products and services. The company caters to diverse industries, including biopharma, healthcare, education & government, and advanced technologies & applied materials.
Expert Summary
Baird’s sustained Outperform rating on Avantor, coupled with a positive price target suggesting significant upside, points to potential investor confidence. While institutional ownership saw minor fluctuations, key funds have demonstrated increased commitment, signaling a bullish sentiment within the market.