Rhenman & Partners Asset Management AB Buys 96,025 Shares of Stevanato Group S.p.A. $STVN

Rhenman & Partners Asset Management AB boosted its stake in Stevanato Group S.p.A. (NYSE:STVN) by 188.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,025 shares of the company’s stock after purchasing an additional 96,025 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Stevanato Group were worth $2,958,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC lifted its stake in Stevanato Group by 6.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,392,581 shares of the company’s stock valued at $35,859,000 after purchasing an additional 86,971 shares during the last quarter. Cooper Investors PTY Ltd. lifted its stake in Stevanato Group by 17.8% in the 4th quarter. Cooper Investors PTY Ltd. now owns 695,245 shares of the company’s stock valued at $13,988,000 after purchasing an additional 104,937 shares during the last quarter. Bamco Inc. NY lifted its stake in Stevanato Group by 4.5% in the 3rd quarter. Bamco Inc. NY now owns 1,973,759 shares of the company’s stock valued at $50,824,000 after purchasing an additional 85,709 shares during the last quarter. Jennison Associates LLC lifted its stake in Stevanato Group by 13.7% in the 4th quarter. Jennison Associates LLC now owns 1,772,896 shares of the company’s stock valued at $35,671,000 after purchasing an additional 213,602 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in Stevanato Group by 20.2% in the 3rd quarter. Royce & Associates LP now owns 301,224 shares of the company’s stock valued at $7,757,000 after purchasing an additional 50,689 shares during the last quarter.

Wall Street Analysts Forecast Growth

STVN has been the subject of several research reports. Citigroup dropped their price objective on shares of Stevanato Group from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Wolfe Research assumed coverage on shares of Stevanato Group in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $21.00 price target for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Stevanato Group in a research note on Monday. Wall Street Zen downgraded shares of Stevanato Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Morgan Stanley dropped their price target on shares of Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating for the company in a research note on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Stevanato Group has a consensus rating of “Moderate Buy”.

Stevanato Group Stock Performance

Shares of STVN stock opened at €17.03 on Friday. The business’s 50 day simple moving average is €16.80 and its 200 day simple moving average is €17.66. Stevanato Group S.p.A. has a one year low of €12.89 and a one year high of €28.00. The stock has a market capitalization of $5.16 billion, a PE ratio of 28.87, a PEG ratio of 1.59 and a beta of 0.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.63 and a quick ratio of 1.11.

Stevanato Group (NYSE:STVN) last announced its earnings results on Friday, May 8th. The company reported €0.11 EPS for the quarter, missing the consensus estimate of €0.12 by (€0.01). Stevanato Group had a net margin of 11.76% and a return on equity of 10.27%. The company had revenue of €273.57 million during the quarter. During the same quarter in the previous year, the firm earned $0.10 EPS. Stevanato Group’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that Stevanato Group S.p.A. will post 0.68 earnings per share for the current year.

Stevanato Group Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, July 29th. Investors of record on Thursday, June 11th will be paid a dividend of $0.054 per share. This represents a yield of 31.0%. The ex-dividend date of this dividend is Thursday, June 11th.

Stevanato Group Company Profile

Stevanato Group is a global provider of primary packaging solutions and related services for the pharmaceutical and biotech industries. The company specializes in the design, development and manufacturing of glass drug containers such as vials, cartridges and pre-fillable syringes, as well as advanced inspection systems and assembly equipment. Its integrated offerings cover the entire packaging supply chain, from component production to bespoke filling lines and serialization technology.

In addition to its core glass business, Stevanato Group delivers engineering services and process validation support to pharmaceutical customers.