Is it a Good Move to Buy Avantor (AVTR) Shares?

ClearBridge Investments, an investment management firm, published its “SMID Cap Growth Strategy” third-quarter 2022 investor letter – a copy of which can be downloaded here. During the third quarter, the ClearBridge SMID Cap Growth Strategy underperformed its Russell 2500 Growth benchmark. On an absolute basis, the Strategy had gains across four of the 10 sectors in which it was invested (out of 11 sectors total). The consumer discretionary and consumer staples sectors were the main contributors while the healthcare sector was the primary detractor. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, ClearBridge SMID Cap Growth Strategy mentioned Avantor, Inc. (NYSE:AVTR) and explained its insights for the company. Founded in 1904, Avantor, Inc. (NYSE:AVTR) is a Radnor Township, Pennsylvania-based chemicals, and materials company with a $13.2 billion market capitalization. Avantor, Inc. (NYSE:AVTR) delivered a -53.44% return since the beginning of the year, while its 12-month returns are down by -49.08%. The stock closed at $19.62 per share on November 09, 2022.

Here is what ClearBridge SMID Cap Growth Strategy has to say about Avantor, Inc. (NYSE:AVTR) in its Q3 2022 investor letter:

“Avantor (NYSE:AVTR), a leading global provider of mission-critical products and services to customers in biopharma and health care among others, was hurt by FX impacts from a strong U.S. dollar, primarily due to forex strength, slightly higher COVID-19 headwinds, and revenues from a recently acquired property which have underachieved goals at the time of the acquisition.”

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Our calculations show that Avantor, Inc. (NYSE:AVTR) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Avantor, Inc. (NYSE:AVTR) was in 51 hedge fund portfolios at the end of the second quarter of 2022, compared to 57 funds in the previous quarter. Avantor, Inc. (NYSE:AVTR) delivered a -31.23% return in the past 3 months.

In October 2022, we also shared another hedge fund’s views on Avantor, Inc. (NYSE:AVTR) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

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