Avantor Analysts Cut Their Forecasts After Q1 Results - Avantor (NYSE:AVTR)

Avantor Inc (NYSE:AVTR) reported in-line earnings for its first quarter on Friday.

The company posted adjusted EPS of 23 cents in line with consensus. The life science tools company reported sales of $1.58 billion, missing the consensus of $1.61 billion.

"While earnings and margin performance were in line with our plan, Lab Solutions revenue was impacted by reduced demand – particularly in our Education and Government end market – following recent policy changes," said Michael Stubblefield, president and CEO. "We are updating our full-year outlook to reflect ongoing funding and policy-related headwinds. While we are not satisfied with our current growth trajectory, we are implementing a comprehensive strategy to strengthen our Lab Solutions segment and are committed to moving with urgency to improve performance across the business."

On Friday, Avantor announced that Stubblefield intends to step down as director, president, and CEO. The Board has initiated a search process to identify the company's next CEO.

Avantor shares fell 16.6% to close at $12.93 on Friday.

These analysts made changes to their price targets on Avantor following earnings announcement.

Baird analyst Catherine Schulte maintained Avantor with an Outperform and lowered the price target from $21 to $17.
Morgan Stanley analyst Tejas Savant downgraded the stock from Overweight to Equal-Weight and lowered the price target from $25 to $15.
Barclays analyst Luke Sergott maintained Avantor with an Overweight rating and lowered the price target from $18 to $15.

Considering buying AVTR stock? Here’s what analysts think:

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