AVTR - Avantor, Inc.
| Previous Close | 16.06 |
| Open | 16.03 |
| Bid | 16.19 x 900 |
| Ask | 16.20 x 800 |
| Day's Range | 15.98 - 16.22 |
| 52 Week Range | 13.33 - 19.58 |
| Volume | 241,058 |
| Avg. Volume | 3,484,389 |
| Market Cap | 9.268B |
| Beta (3Y Monthly) | N/A |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -1.77 |
| Earnings Date | Nov 5, 2019 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 20.53 |
- Bloomberg
Kalanick Has Now Sold $711 Million of Uber Since Lockup Expired
(Bloomberg) -- Travis Kalanick sold 6.1 million shares of Uber Technologies Inc. just days after disposing of a fifth of his stake, bringing the total offloaded to $711 million this month.The 43-year-old entrepreneur sold $164 million of his holdings in the ride-hailing company this week, according to a regulatory filing Wednesday. Last week he disposed of stock worth about $547 million.The sale underlines Kalanick’s focus on other investments, including CloudKitchens, which he funded with $300 million. A $400 million injection from Saudi Arabia’s Public Investment Fund valued the food startup at $5 billion, the Wall Street Journal reported last week.His remaining 4.2% stake in Uber is valued at $1.9 billion, or less than two-thirds of his $3.4 billion fortune, according to the Bloomberg Billionaires Index. When he was Uber’s chief executive officer, Kalanick said he retained all his shares in the company. That changed after his ousting in 2017. He sold stock in private transactions and had a 6% stake at the time of its May initial public offering.Kalanick has moved quickly to offload Uber shares since the IPO. This month’s trades came after a 180-day lockup period restricting insider and early investor sales expired last week.Uber shares fell 3.9% on Nov. 6 when its lockup expired. Beyond Meat Inc. has done even worse, falling 22% since its lockup ended. Shares in Avantor Inc., Fastly Inc. and Luckin Coffee Inc. all rose Wednesday when their restrictions were lifted.To contact the reporter on this story: Tom Metcalf in London at tmetcalf7@bloomberg.netTo contact the editors responsible for this story: Pierre Paulden at ppaulden@bloomberg.net, Steven CrabillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- PR Newswire
Avantor® and NIBRT Collaborate to Advance Bioprocessing by Addressing Downstream Bottlenecks in Monoclonal Antibodies (mAbs) Production
RADNOR, Pa. and DUBLIN, Nov. 6, 2019 /PRNewswire/ -- Avantor, Inc. (AVTR) and the National Institute of Bioprocessing Research and Training (NIBRT) today announced they are teaming up to address downstream bottlenecks in buffer preparation when producing monoclonal antibodies (mAbs). As part of the joint effort, Avantor® is providing in-line dilution systems for hands-on experience at NIBRT's prestigious training and research facility dedicated to supporting the global bioprocessing industry.
- Bloomberg
Goldman Chief Solomon Says Profit Matters After WeWork Loss
(Bloomberg) -- Goldman Sachs Group Inc., stung by losses in Uber Technologies Inc. and WeWork, has a message for investors in growth stocks: profit matters.After years of pursuing revenue growth at all costs, driven by cheap money, markets are increasingly focusing on whether companies can translate top line expansion into profitability, Chief Executive Officer David Solomon said Tuesday in a wide-ranging interview that also touched on Europe’s negative interest rates and his plans for the bank’s investor day in January.“It’s important for people to grow, but there’s got to be a clear and articulated path to profitability,” Solomon said in a Bloomberg TV interview with Matt Miller in Berlin. “I think there’s a little more market discipline coming into play.”Goldman Sachs, which relies on investments with its own money as a key profit driver, last quarter suffered the worst performance in more than three years from equity wagers in public and private companies. The slump in prized holdings added to a perception that the investments are subject to unpredictable swings even as the company works to provide more disclosure.The bank took a $267 million hit on public equity investments such as ride-hailing company Uber Technologies Inc., Avantor Inc. and Tradeweb Markets Inc. Its stake in WeWork declined by $80 million after plans for an initial public offering collapsed.Solomon stopped short of comparing the recent troubles in the market for IPOs to the dot-com crisis, though they underscore how, after years of ultra-loose monetary policy, markets are demanding proof that companies can make money.“The monetary policy that has been ramping around the world has basically forced people out on the risk curve, has forced people to look for other ways to drive returns, and one of the things they’ve been chasing is growth and to some degree growth at all costs,” Solomon said in the interview. “The market here is speaking and telling people here, let’s rein that in a little a bit.”Solomon sought to put a positive spin on the failed WeWork IPO, saying it showed capital markets function properly. While there was a lot of hype around the company, investors were able to discuss the relevant financial information and “there was a pretty clear view as to whether the company could go public,” he said.He declined to discuss the IPO of Saudi Aramco, the world’s largest oil producer, because it is an active transaction. The bank is a global coordinator on Aramco’s initial public offering, which could become the world’s biggest ever. Saudi Arabia is aiming for a valuation of between $1.6 trillion and $1.8 trillion, according to people familiar with the matter. But analysts at banks working on the deal offered wildly diverging estimates.Aramco’s IPO was delayed just days before an expected October launch after doubts re-emerged about the $2 trillion valuation Prince Mohammed initially placed on the energy giant. He caused something of a shock in 2016 when he announced the plan and gave the lofty estimate, which would make Aramco almost twice the size of Apple Inc., the world’s biggest company by market capitalization.“Different people will have different valuations and parameters,” Solomon said. Still, “when you run an IPO process and you get an IPO process to the point where a valuation range is set and then you are actually selling securities to investors, I don’t think it’s that hard to get to a pretty narrow range for what the market expects and where buyers and sellers can meet.”The CEO also waded into the debate about negative interest rates, suggesting history will take a dim view of that monetary policy experiment. The European Central Bank has imposed negative rates on banks for half a decade now. Some of Europe’s most senior bankers have blasted the policy, with Deutsche Bank AG CEO Christian Sewing saying it ruins the financial system in the long run.Europe’s ExperimentWhile central bankers argue they support the economy, the burden on commercial banks is mounting and the industry is warning about detrimental long-term side effects. Solomon, who took over at the helm of Goldman Sachs a little more than a year ago, also questioned their economic benefit.“When we look back on negative rates, I think when the book’s written, it’s not going to look like a great experiment,” he said. “Growth in this part of the world has been lagging and negative rates have not allowed an acceleration of that growth in my opinion.”Read more: Banks count cost of negative rates as ECB tries to ease painThe losses on the equity investments last quarter add to headwinds for Solomon, 57. Shares of Goldman Sachs, which celebrates its 150th anniversary this year, have trailed peers as investors await the fallout from a global corruption scandal involving Malaysia’s investment fund 1MDB. The CEO has also struggled to revive the trading unit, and pleaded for patience with a fledgling consumer business started by his predecessor.Solomon is tightening the bank’s partnership ranks and installing new leaders across divisions. He has promised to lay out a vision for the firm’s future at the firm’s inaugural investor day in January that could serve as a catalyst for its stock, though he cautioned on Tuesday that shareholders shouldn’t expect a shift in strategy.“We’ve got very, very good businesses that we’re very proud of and we’d like to evolve those businesses a little bit,” Solomon said. “I wouldn’t expect any big reveal.”(Adds Goldman’s role in Aramco IPO in ninth paragraph.)\--With assistance from Sridhar Natarajan.To contact the reporters on this story: Matthew Miller in Berlin at mtmiller@bloomberg.net;Steven Arons in Frankfurt at sarons@bloomberg.net;Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.netTo contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, ;Daniel Schaefer at dschaefer36@bloomberg.net, Christian BaumgaertelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- PR Newswire
/C O R R E C T I O N -- Avantor/
In the news release, Avantor Reports Third Quarter 2019 Results, issued 05-Nov-2019 by Avantor and Financial News over PR Newswire, we are advised by the company that the first paragraph, first sentence ...
- PR Newswire
Avantor® to Report Third Quarter Earnings and Host Earnings Call on Tuesday, November 5
RADNOR, Pa. , Oct. 22, 2019 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission critical products and services to customers in the life science and advanced technologies & ...
- PR Newswire
Avantor® Declares Dividend on Mandatory Convertible Preferred Stock
RADNOR, Pa. , Oct. 21, 2019 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission critical products and services to customers in the life sciences and advanced technologies ...
- Simply Wall St.
Here's Why Avantor (NYSE:AVTR) Has A Meaningful Debt Burden
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
- Yahoo Finance
We're learning how much big banks are feeling Silicon Valley's pain: Morning Brief
Top news and what to watch in the markets on Wednesday, October 16, 2019.
- Insider Monkey
Hedge Funds Have Never Been This Bullish On Avantor, Inc. (AVTR)
Investing in hedge funds can bring large profits, but it’s not for everybody, since hedge funds are available only for high-net-worth individuals. They generate significant returns for investors to justify their large fees and they allocate a lot of time and employ complex research processes to determine the best stocks to invest in. A particularly […]
- Bloomberg
Goldman Faces $260 Million Hit From Equity Bets as Uber Plunges
(Bloomberg) -- Goldman Sachs Group Inc.’s bets on four companies delighted investors a quarter ago. This time around, they’re inflicting about $260 million of pain.Those losses are driven by investments made for its own account in Uber Technologies Inc. and Avantor Inc., which both slumped in the third quarter. The ride-hailing company has seen a third of its market value erased after a woeful public-market debut, while Avantor lost 23% in the same period. That led to hits of more than $100 million each for Goldman.Goldman was barred from selling its holdings in the companies immediately after they went public, as is typical for private investors. The size of the positions was derived from filings and company disclosures. A spokeswoman for Goldman Sachs declined to comment.Gains from investments with its own money are sometimes Goldman Sachs’s biggest profit driver, and executives have argued they showcase a core skill of the firm that should be valued by shareholders. But some analysts and investors have pointed to quarterly volatility in its Investing & Lending division as a reason to discount those profits. The swings in these marquee holdings may add to that perception.“The ‘I’ in the I&L can still be chunky and difficult to forecast,” said Mike Mayo, a senior bank analyst at Wells Fargo & Co. “It’s certainly a headwind in the quarter.”Mayo recently lowered his estimates and is now forecasting a 30% drop in investing and lending revenue from the second quarter. Goldman Sachs is unique among banks in the scale of its principal investments, with a $22 billion equity portfolio. Executives have said they plan to move their merchant banking units more toward managing client money and away from making bets with the firm’s money.The investment bank credited Uber and Avantor, along with Tradeweb Markets Inc. and online recruiter HeadHunter Group Plc, with lifting results in the second quarter. The firm said its positions in companies that went public in the second quarter generated about $500 million dollars in gains. That was mostly driven by a special one-time gain from Tradeweb.Tradeweb also declined 16% in the period, but that loss was mitigated by a similar advance in HeadHunter.The four holdings made up 55% of the company’s $2.6 billion public investment portfolio as of June 30, Chief Financial Officer Stephen Scherr said in July. Banks sometimes discount a holding’s value if the stake is large or would prove difficult to quickly divest.Goldman got in early on Uber, investing when the venture was just starting to expand. That allowed the bank to ride big gains as the company’s valuation exploded in recent years. It holds roughly 10 million shares of Uber.Avantor, a chemical maker for the life-sciences industry, has also been a big money spinner for Goldman. The bank and its client scored more than $400 million in proceeds from Avantor’s initial public offering in the second quarter, as well as merger advisory work before that.Goldman isn’t alone in facing pain from investments in newer companies after years of gains. Jefferies Financial Group Inc.’s third-quarter earnings took a hit from WeWork’s dropping valuation as the investment bank had to mark down its stake.To contact the reporter on this story: Sridhar Natarajan in New York at snatarajan15@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Dan Reichl, David ScheerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- PR Newswire
Avantor® to Participate in the Morgan Stanley Global Healthcare Conference
RADNOR, Pa. , Sept. 4, 2019 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission critical products and services to customers in the life sciences and advanced technologies & ...
- Simply Wall St.
Do Institutions Own Avantor, Inc. (NYSE:AVTR) Shares?
A look at the shareholders of Avantor, Inc. (NYSE:AVTR) can tell us which group is most powerful. Generally speaking...
- PR Newswire
Avantor Reports Second Quarter 2019 Results
- Net sales of $1.53 billion , up 4% (6% on an organic basis) - Net loss of $(48.7) million , adjusted net income(1) of $91.6 million , up 60% - GAAP loss per share of $(0.98) , pro forma adjusted fully ...
- Bloomberg
WeWork Poised to Tap JPMorgan, Goldman for IPO as Fee Pool Grows
(Bloomberg) -- WeWork Cos. is close to naming JPMorgan Chase & Co. and Goldman Sachs Group Inc. to lead its initial public offering next month, while sweetening the fees it pays banks, according to people with knowledge of the talks.The office-sharing venture is expected to award JPMorgan the coveted first -- or lead left -- position in its syndicate of banks handling the deal, according to the people, who asked not to be identified because the negotiations are private. The terms and the hierarchy of the full banking group involved aren’t yet formalized and could change, the people said.The fee pool for WeWork’s IPO -- which at a target of roughly $3.5 billion would be the year’s second-largest offering -- has inched higher in recent days as the company sets up a $6 billion debt-financing package that would fall into place only if the listing is a success. That unusual pairing of transactions is designed to diversify the funding sources of WeWork’s global expansion.Earlier this week, WeWork was poised to carve out 2.5% to 3% of the total money raised via the IPO to pay underwriter fees. That portion under discussion has since climbed to 3.5%, according to the people -- though that, too, is in flux.Representatives for WeWork, JPMorgan and Goldman Sachs declined to comment.The New York-based venture, which rents furnished office space to companies and freelancers, has been looking for ways to grow, potentially investing in a broad array of businesses and properties. Its push for billions of dollars in additional financing is likely to prove more lucrative for WeWork’s bankers than just handling its stock sale, people with knowledge of the lending terms have said.The firm is seeking to borrow $2 billion through a letter-of-credit facility and $4 billion with delayed-draw term loan, those people said. Banks will have to make good on their commitments only if at least $3 billion is raised in the IPO. The lenders would receive upfront fees equal to about 3% of their final commitment.Uber Technologies Inc.’s $8.1 billion IPO in May ranks as 2019’s largest globally, followed by Avantor Inc.’s $2.9 billion listing that month.\--With assistance from Michelle F. Davis and Eric Newcomer.To contact the reporters on this story: Sonali Basak in New York at sbasak7@bloomberg.net;Gillian Tan in New York at gtan129@bloomberg.net;Sridhar Natarajan in New York at snatarajan15@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, ;Alan Goldstein at agoldstein5@bloomberg.net, David ScheerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Bloomberg
WeWork Is Looking to Go Public in September
(Bloomberg) -- WeWork Cos. is looking to go public in September, people familiar with the company’s plans said, in what’s expected to be the second-biggest initial public offering of the year.The company is targeting a share sale of about $3.5 billion, though that amount may change, said one of the people, who asked not to be identified because the plans were private.The New York-based company, which rents office space to workers, has said it submitted its paperwork confidentially to U.S. regulators in December. WeWork plans to to discuss its business with analysts on July 31, the person said.WeWork declined to comment on the plans. The intended timing of the IPO was reported earlier by the Wall Street Journal.SoftBank Group Corp. is WeWork’s largest backer and has valued the unprofitable business at $47 billion.WeWork has been in talks to secure a credit facility, originally $2.75 billion -- a figure that was expanded to as much as $4 billion, people with knowledge of the discussions said this month. The company is now in talks to increase that amount to as much as $6 billion in what would be an asset-backed and highly structured financing, one of the people said.Uber Technologies Inc.’s $8.1 billion IPO in May ranks as the biggest of 2019. A WeWork offering of $3.5 billion would put it ahead of diagnostic equipment maker Avantor Inc.’s $2.9 billion listing in May, currently the second-biggest for the year globally.(Updates with IPO target amount in second paragraph)To contact the reporters on this story: Ellen Huet in San Francisco at ehuet4@bloomberg.net;Gillian Tan in New York at gtan129@bloomberg.netTo contact the editors responsible for this story: Mark Milian at mmilian@bloomberg.net, ;Alan Goldstein at agoldstein5@bloomberg.net, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- PR Newswire
Avantor® to Report Second Quarter Earnings and Host Earnings Call on Tuesday, August 6
RADNOR, Pa. , July 23, 2019 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission critical products and services to customers in the life science and advanced technologies & ...
- Kiplinger
10 High-Profile IPOs: What the Analysts Think
Fans of initial public offerings (IPOs) have gotten one flashy deal after another in 2019. Some companies such as Beyond Meat (BYND) shocked onlookers with a meteoric ascent, while other hotly hyped companies such as Uber Technologies (UBER) crashed and burned early on. But broadly speaking, there's demand for IPOs, and up-and-coming companies are happy to fill that demand."IPO activity is (mildly) cyclical, as management teams take the opportunity to go public while being buoyed by favorable economic conditions," Bernstein equity strategist Noah Weisberger told CNBC in explaining this year's red-hot IPO market.It's early going for these new stocks, however. They have only a few months of trading under their belts, and very little financial track record to go on. With so little information at their fingertips, investors must rely heavily on Wall Street's analysts for insights into the comings and goings of these IPOs.Here are 10 recent higher-profile IPOs, and what analysts are saying about each of these new stocks. SEE ALSO: The 19 Best Stocks to Buy for the Rest of 2019
- PR Newswire
Avantor® Announces Closing of Initial Public Offering and Concurrent Offering of Mandatory Convertible Preferred Stock and Full Exercise of Underwriters' Option to Purchase Additional Shares
RADNOR, Pa. , May 21, 2019 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission critical products and services to customers in the biopharma, healthcare, education & government, ...
- Benzinga
Investors Appear Underwhelmed By Avantor IPO
Chemicals company Avantor (NYSE: AVTR ) made its debut on the New York Stock Exchange Friday morning. Avantor issued 205 million shares priced at $14. Avantor shares opened for trade 11:10 a.m. at $14.72. ...
- Yahoo Finance Video
Avantor CEO & President on Being the Year's Second-Biggest IPO
Yahoo Finance's Julie Hyman, Adam Shapiro, Brian Cheung, and Ethan Wolff-Mann join Avantor CEO and President Michael Stubblefield.
