Kinney Asset Management Increases Avantor Position by 470,000 Shares, Valued at $4.52 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: NASDAQ.COM
- Share Increase: Kinney Asset Management increased its Avantor position by 470,000 shares in Q3, bringing its total holdings to approximately 1.85 million shares valued at $23.03 million, making it the largest of three reported positions, indicating confidence in the company.
- Asset Allocation: Avantor now constitutes 34.3% of Kinney's reportable AUM, suggesting the fund remains optimistic about its long-term value despite a 46% decline in stock price over the past year amid market volatility.
- Financial Performance: Avantor reported a 5% revenue decline to $1.62 billion in Q3, primarily due to softer biopharma demand, although it generated $268 million in adjusted EBITDA, demonstrating resilience in profitability during challenging times.
- Repurchase Program: Avantor authorized a $500 million share repurchase program aimed at boosting investor confidence and enhancing shareholder returns, which, despite the company's restructuring and market challenges, could provide potential upside for long-term investors.
Analyst Views on AVTR
Wall Street analysts forecast AVTR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AVTR is 13.86 USD with a low forecast of 12.00 USD and a high forecast of 17.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
4 Buy
6 Hold
0 Sell
Moderate Buy
Current: 11.460
Low
12.00
Averages
13.86
High
17.00
Current: 11.460
Low
12.00
Averages
13.86
High
17.00
About AVTR
Avantor, Inc. is a life science tools company and global provider of mission-critical products and services to the life sciences and advanced technology industries. The Company’s segments include Laboratory Solutions and Bioscience Production. Within its segments, it sells materials and consumables, equipment and instrumentation and services and specialty procurement to customers in the biopharma and healthcare, education and government and advanced technologies and applied materials industries. Materials and consumables include ultra-high purity chemicals and reagents, lab products and supplies, highly specialized formulated silicone materials, customized excipients, and others. Equipment and instrumentation include filtration systems, virus inactivation systems, incubators, analytical instruments, and others. Services and specialty procurement include onsite lab and production, equipment, procurement and sourcing and biopharmaceutical material scale-up and development services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
