Confluence Investment Management LLC Trims Stock Holdings in Stevanato Group S.p.A. $STVN

Confluence Investment Management LLC cut its holdings in Stevanato Group S.p.A. (NYSE:STVN) by 9.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 304,303 shares of the company’s stock after selling 31,190 shares during the period. Confluence Investment Management LLC’s holdings in Stevanato Group were worth $6,384,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP bought a new position in Stevanato Group in the second quarter worth about $22,621,000. Ranger Investment Management L.P. bought a new stake in shares of Stevanato Group in the 2nd quarter worth approximately $21,438,000. Conestoga Capital Advisors LLC lifted its holdings in shares of Stevanato Group by 7.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 8,491,751 shares of the company’s stock worth $116,762,000 after purchasing an additional 602,050 shares during the last quarter. Roubaix Capital LLC boosted its position in Stevanato Group by 96.6% during the 1st quarter. Roubaix Capital LLC now owns 385,316 shares of the company’s stock valued at $5,298,000 after purchasing an additional 189,343 shares during the period. Finally, CenterBook Partners LP grew its stake in Stevanato Group by 304.0% during the 4th quarter. CenterBook Partners LP now owns 249,510 shares of the company’s stock worth $5,020,000 after buying an additional 187,752 shares during the last quarter.

Insider Activity at Stevanato Group

In related news, insider Mauro Stocchi sold 13,649 shares of the company’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of €21.50, for a total value of €293,453.50. Following the completion of the sale, the insider owned 400,000 shares of the company’s stock, valued at €8,600,000. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Marco Dal Lago sold 4,209 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of €20.09, for a total transaction of €84,558.81. Following the transaction, the chief financial officer directly owned 81,144 shares in the company, valued at approximately €1,630,182.96. The trade was a 4.93% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 21,926 shares of company stock valued at $459,738 in the last ninety days. Company insiders own 0.70% of the company’s stock.

Stevanato Group Stock Performance

STVN stock traded down €1.08 on Thursday, reaching €19.90. The company’s stock had a trading volume of 52,050 shares, compared to its average volume of 508,276. Stevanato Group S.p.A. has a 52 week low of €12.89 and a 52 week high of €27.99. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.61 and a quick ratio of 1.08. The company has a market capitalization of $6.03 billion, a P/E ratio of 35.53, a price-to-earnings-growth ratio of 1.73 and a beta of 0.75. The firm has a fifty day moving average of €21.09 and a two-hundred day moving average of €18.41.

Stevanato Group (NYSE:STVN) last announced its quarterly earnings results on Wednesday, August 5th. The company reported €0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of €0.15 by (€0.01). Stevanato Group had a return on equity of 10.43% and a net margin of 10.99%.The business had revenue of €302.00 million for the quarter. As a group, analysts predict that Stevanato Group S.p.A. will post 0.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on STVN. TD Cowen raised Stevanato Group to a “strong-buy” rating in a research report on Wednesday, June 17th. UBS Group started coverage on shares of Stevanato Group in a research report on Wednesday, September 9th. They set a “neutral” rating and a $23.00 price target for the company. Finally, Weiss Ratings raised shares of Stevanato Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 27th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Stevanato Group Company Profile

Stevanato Group S.p.A. is an Italy-based provider of drug-containment, drug-delivery and diagnostic solutions for the pharmaceutical, biotechnology and healthcare industries. The company serves customers across the development, production and administration of injectable medicines, with activities spanning pharmaceutical glass packaging, medical devices and manufacturing technologies.

Its product portfolio includes glass vials, cartridges, syringes and other primary containers, as well as ready-to-use packaging solutions such as EZ-fill.