Should You Sell Avantor (AVTR) Now?

·2 min read

ClearBridge Investments, an investment management firm, released its fourth-quarter 2022 “Mid Cap Growth Strategy” investor letter – a copy of which can be downloaded here. The strategy underperformed the Russell Midcap Growth Index in the fourth quarter. It gained across six of the 10 sectors in which it was invested in the quarter. The industrials, health care, and consumer discretionary sectors were the leading contributors while the IT sector was the primary detractor. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Mid Cap Growth Strategy highlighted stocks like Avantor, Inc. (NYSE:AVTR) in its Q4 2022 investor letter. Headquartered in Radnor, Pennsylvania, Avantor, Inc. (NYSE:AVTR) provides products and services to biopharma, healthcare, education and government, advanced technologies, and applied materials industries. On February 16, 2023, Avantor, Inc. (NYSE:AVTR) stock closed at $24.37 per share. One-month return of Avantor, Inc. (NYSE:AVTR) was 7.59% and its shares lost 29.16% of their value over the last 52 weeks. Avantor, Inc. (NYSE:AVTR) has a market capitalization of $16.436 billion.

ClearBridge Mid Cap Growth Strategy made the following comment about Avantor, Inc. (NYSE:AVTR) in its Q4 2022 investor letter:

"The health care sector also proved challenging as many of our portfolio companies continued to be plagued by headwinds from the third quarter: extended sales cycles and a drop off in COVID-19 revenues. We took the opportunity to re-evaluate each of our health care holdings and reposition ourselves for greater opportunities. We exited our position in Avantor, Inc. (NYSE:AVTR), provider of mission-critical products and services to customers in the biopharma, healthcare, education and government industries, due to the company’s poor execution in integrating its acquisitions of Ritter GmbH and Masterflex while incurring higher leverage."

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Avantor, Inc. (NYSE:AVTR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 59 hedge fund portfolios held Avantor, Inc. (NYSE:AVTR) at the end of the third quarter, which was 51 in the previous quarter.

We discussed Avantor, Inc. (NYSE:AVTR) in another article and shared Alger Capital’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.