BUZZ-Avantor drops to 5-year low after Q1 results, CEO transition

Reuters

04-25

BUZZ-Avantor drops to 5-year low after Q1 results, CEO transition

** Shares of life science firm Avantor AVTR.N down 16.1% at $13 in early trading

** Stock trading at its lowest since April 2020

** Co announces Michael Stubblefield to step down as CEO as soon as successor is found

** Posts Q1 net sales of $1.58 bln, slightly below estimate of $1.60 bln - data compiled by LSEG

** AVTR reports adj. EPS of 23 cents, matching analysts' expectations

** Fourteen of 24 brokerages rate the stock "buy" or higher, 10 "hold"; median PT is $21.50 - data compiled by LSEG

** Including day's move, AVTR down 26.4% YTD

(Reporting by Twesha Dikshit)

((Twesha.Dikshit@thomsonreuters.com))

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