Stevanato Group S.p.A. $STVN Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC reduced its position in Stevanato Group S.p.A. (NYSE:STVN) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 673,148 shares of the company’s stock after selling 42,011 shares during the quarter. Riverbridge Partners LLC’s holdings in Stevanato Group were worth $9,256,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. T. Rowe Price Investment Management Inc. raised its stake in shares of Stevanato Group by 10.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,923,632 shares of the company’s stock valued at $78,944,000 after acquiring an additional 368,792 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in Stevanato Group by 7.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 3,500,321 shares of the company’s stock worth $70,426,000 after purchasing an additional 232,645 shares in the last quarter. Bamco Inc. NY increased its holdings in Stevanato Group by 1.4% during the 4th quarter. Bamco Inc. NY now owns 2,001,724 shares of the company’s stock worth $40,275,000 after purchasing an additional 27,965 shares during the period. Jennison Associates LLC increased its holdings in Stevanato Group by 13.7% during the 4th quarter. Jennison Associates LLC now owns 1,772,896 shares of the company’s stock worth $35,671,000 after purchasing an additional 213,602 shares during the period. Finally, ArrowMark Colorado Holdings LLC raised its position 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 in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Stevanato Group in a research note on Monday, June 8th. Citigroup reduced their target price on shares of Stevanato Group from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Wolfe Research initiated coverage on shares of Stevanato Group in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $21.00 price target for the company. TD Cowen upgraded shares of Stevanato Group to a “strong-buy” rating in a report on Wednesday, June 17th. Finally, Morgan Stanley dropped their price objective on shares of Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Friday, March 6th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Stevanato Group has a consensus rating of “Moderate Buy”.

Stevanato Group Price Performance

STVN stock opened at €16.79 on Wednesday. The business has a 50 day moving average price of €17.27 and a 200 day moving average price of €17.33. The company has a quick ratio of 1.11, a current ratio of 1.63 and a debt-to-equity ratio of 0.21. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.56 and a beta of 0.78. Stevanato Group S.p.A. has a fifty-two week low of €12.89 and a fifty-two week high of €28.00.

Stevanato Group (NYSE:STVN) last announced its quarterly 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). The company had revenue of €273.57 million during the quarter. Stevanato Group had a net margin of 11.76% and a return on equity of 10.27%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. Equities research analysts anticipate that Stevanato Group S.p.A. will post 0.68 earnings per share for the current fiscal year.

Stevanato Group Cuts Dividend

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

About Stevanato Group

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.