Riverbridge Partners LLC Sells 116,856 Shares of Stevanato Group S.p.A. (NYSE:STVN)

Riverbridge Partners LLC decreased its holdings in Stevanato Group S.p.A. (NYSE:STVN) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,025,197 shares of the company’s stock after selling 116,856 shares during the period. Riverbridge Partners LLC’s holdings in Stevanato Group were worth $22,339,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Conestoga Capital Advisors LLC lifted its stake in Stevanato Group by 5.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 7,675,910 shares of the company’s stock worth $153,518,000 after purchasing an additional 400,087 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Stevanato Group by 67.6% in the third quarter. Thrivent Financial for Lutherans now owns 2,784,912 shares of the company’s stock valued at $55,698,000 after purchasing an additional 1,123,104 shares in the last quarter. Wellington Management Group LLP increased its position in Stevanato Group by 4.5% in the third quarter. Wellington Management Group LLP now owns 2,693,588 shares of the company’s stock worth $53,872,000 after purchasing an additional 115,050 shares during the last quarter. Bamco Inc. NY raised its stake in Stevanato Group by 1.3% during the third quarter. Bamco Inc. NY now owns 1,685,181 shares of the company’s stock valued at $33,704,000 after purchasing an additional 21,469 shares in the last quarter. Finally, Fred Alger Management LLC lifted its position in Stevanato Group by 24.2% during the third quarter. Fred Alger Management LLC now owns 1,070,557 shares of the company’s stock valued at $21,411,000 after purchasing an additional 208,830 shares during the last quarter.

Wall Street Analyst Weigh In

STVN has been the topic of a number of research reports. Morgan Stanley restated an “equal weight” rating and issued a $23.00 target price (down from $24.00) on shares of Stevanato Group in a report on Tuesday, December 3rd. Bank of America boosted their price objective on Stevanato Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Wolfe Research started coverage on Stevanato Group in a report on Friday, December 13th. They issued an “outperform” rating and a $28.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of €28.60 ($29.79).

Stevanato Group Trading Down 3.3 %

Shares of NYSE STVN opened at €21.44 ($22.33) on Thursday. The business’s 50 day moving average price is €21.38 and its 200-day moving average price is €20.46. Stevanato Group S.p.A. has a fifty-two week low of €16.56 ($17.25) and a fifty-two week high of €34.73 ($36.18). The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 45.62, a PEG ratio of 7.68 and a beta of 0.56.

Stevanato Group (NYSE:STVN) last issued its earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of €0.13 ($0.14) by (€0.01) (($0.01)). The company had revenue of €277.90 million for the quarter, compared to analysts’ expectations of €274.36 million. Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. On average, sell-side analysts expect that Stevanato Group S.p.A. will post 0.5 earnings per share for the current year.

About Stevanato Group

Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for bio-pharma and healthcare industries in Europe, the Middle East, Africa, North America, South America, and the Asia Pacific. The company operates in two segments, Biopharmaceutical and Diagnostic Solutions; and Engineering.