Stevanato Group (NYSE:STVN) Director Madhavan Balachandran Sells 1,493 Shares

Stevanato Group S.p.A. (NYSE:STVN) Director Madhavan Balachandran sold 1,493 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of €17.09, for a total value of €25,515.37. Following the completion of the sale, the director owned 69,458 shares of the company’s stock, valued at approximately €1,187,037.22. This trade represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Stevanato Group Price Performance

Shares of STVN stock opened at €18.36 on Friday. Stevanato Group S.p.A. has a fifty-two week low of €12.89 and a fifty-two week high of €28.00. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 1.59 and a beta of 0.78. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.63. The stock’s 50-day simple moving average is €17.41 and its 200-day simple moving average is €17.26.

Stevanato Group (NYSE:STVN) last posted its quarterly earnings data on Friday, May 8th. The company reported €0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of €0.12 by (€0.01). The company had revenue of €273.57 million for the quarter. Stevanato Group had a net margin of 11.76% and a return on equity of 10.27%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 EPS. As a group, equities analysts forecast 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. Shareholders of record on Thursday, June 11th will be paid a dividend of $0.054 per share. The ex-dividend date is Thursday, June 11th. This represents a yield of 31.0%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on STVN shares. TD Cowen raised shares of Stevanato Group to a “strong-buy” rating in a report on Wednesday, June 17th. KeyCorp cut their target price on Stevanato Group from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Citigroup cut their target price on Stevanato Group from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Wolfe Research assumed coverage on Stevanato Group in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $21.00 target price for the company. Finally, Weiss Ratings raised Stevanato Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Hedge Funds Weigh In On Stevanato Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Conestoga Capital Advisors LLC raised its position in Stevanato Group by 7.6% during the 1st quarter. Conestoga Capital Advisors LLC now owns 8,491,751 shares of the company’s stock worth $116,762,000 after buying an additional 602,050 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Stevanato Group by 10.4% during the 4th 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 during the period. TimesSquare Capital Management LLC boosted its holdings in shares of Stevanato Group by 7.1% in the 4th quarter. TimesSquare Capital Management LLC now owns 3,500,321 shares of the company’s stock valued at $70,426,000 after acquiring an additional 232,645 shares during the last quarter. Bamco Inc. NY boosted its holdings in shares of Stevanato Group by 1.4% in the 4th quarter. Bamco Inc. NY now owns 2,001,724 shares of the company’s stock valued at $40,275,000 after acquiring an additional 27,965 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Stevanato Group by 13.7% in the fourth quarter. Jennison Associates LLC now owns 1,772,896 shares of the company’s stock worth $35,671,000 after acquiring an additional 213,602 shares during the period.

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.