Stevanato Group (NYSE:STVN) Director Donald Morel, Jr. Sells 1,493 Shares

Stevanato Group S.p.A. (NYSE:STVN) Director Donald Morel, Jr. sold 1,493 shares of Stevanato Group stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of €17.09, for a total transaction of €25,515.37. Following the completion of the sale, the director directly owned 37,424 shares of the company’s stock, valued at €639,576.16. The trade was a 3.84% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Stevanato Group Stock Performance

NYSE STVN opened at €17.79 on Friday. The business’s 50-day moving average price is €17.47 and its 200 day moving average price is €17.26. The company has a current ratio of 1.63, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. Stevanato Group S.p.A. has a twelve month low of €12.89 and a twelve month high of €28.00. The company has a market capitalization of $5.39 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.78.

Stevanato Group (NYSE:STVN) last posted 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). Stevanato Group had a net margin of 11.76% and a return on equity of 10.27%. The business had revenue of €273.57 million during the quarter. During the same period last year, the business earned $0.10 EPS. Stevanato Group’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts predict 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 given a $0.054 dividend. This represents a dividend yield of 31.0%. The ex-dividend date of this dividend is Thursday, June 11th.

Analyst Ratings Changes

Several brokerages have commented on STVN. Weiss Ratings upgraded Stevanato Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Wolfe Research started coverage on Stevanato Group in a report on Tuesday, June 2nd. They set an “outperform” rating and a $21.00 target price for the company. Citigroup dropped their target price on shares of Stevanato Group from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. KeyCorp cut their price target on shares of Stevanato Group from $37.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Finally, Morgan Stanley cut their price target on shares of Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating on the stock in a report on Friday, March 6th. 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, Stevanato Group currently has a consensus rating of “Buy”.

Institutional Investors Weigh In On Stevanato Group

Large investors have recently modified their holdings of the stock. Glenmede Trust Co. NA raised its holdings in shares of Stevanato Group by 29.5% during the 1st quarter. Glenmede Trust Co. NA now owns 38,461 shares of the company’s stock valued at $529,000 after buying an additional 8,770 shares during the period. Royal Bank of Canada boosted its holdings in Stevanato Group by 15.8% in the 1st quarter. Royal Bank of Canada now owns 421,696 shares of the company’s stock worth $5,798,000 after acquiring an additional 57,536 shares during the period. Lazard Asset Management LLC acquired a new stake in Stevanato Group in the first quarter valued at approximately $1,749,000. Sei Investments Co. grew its position in Stevanato Group by 4.0% in the first quarter. Sei Investments Co. now owns 266,218 shares of the company’s stock valued at $3,661,000 after acquiring an additional 10,203 shares in the last quarter. Finally, Van Berkom & Associates Inc. raised its stake in shares of Stevanato Group by 2,944.2% during the first quarter. Van Berkom & Associates Inc. now owns 170,994 shares of the company’s stock valued at $2,351,000 after purchasing an additional 165,377 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.