Stevanato Group S.p.A. $STVN Stock Sold by Confluence Investment Management LLC

Confluence Investment Management LLC trimmed its position in shares of Stevanato Group S.p.A. (NYSE:STVN) by 9.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 304,303 shares of the company’s stock after selling 31,190 shares during the period. Confluence Investment Management LLC owned approximately 0.10% of Stevanato Group worth $6,384,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STVN. Conestoga Capital Advisors LLC grew its position in Stevanato Group by 7.6% during the first quarter. Conestoga Capital Advisors LLC now owns 8,491,751 shares of the company’s stock valued at $116,762,000 after acquiring an additional 602,050 shares during the period. Wellington Management Group LLP acquired a new position in shares of Stevanato Group in the 2nd quarter valued at about $22,621,000. Ranger Investment Management L.P. acquired a new position in shares of Stevanato Group in the 2nd quarter valued at about $21,438,000. Cooper Investors PTY Ltd. grew its holdings in shares of Stevanato Group by 4.4% during the 2nd quarter. Cooper Investors PTY Ltd. now owns 668,494 shares of the company’s stock worth $12,080,000 after purchasing an additional 28,265 shares during the period. Finally, Sands Capital Management LLC grew its holdings in shares of Stevanato Group by 6.0% during the 4th quarter. Sands Capital Management LLC now owns 493,006 shares of the company’s stock worth $9,919,000 after purchasing an additional 28,075 shares during the period.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Weiss Ratings upgraded shares of Stevanato Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 27th. UBS Group initiated coverage on shares of Stevanato Group in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $23.00 price objective for the company. Finally, TD Cowen raised shares of Stevanato Group to a “strong-buy” rating in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Stevanato Group Stock Down 5.1%

Shares of Stevanato Group stock traded down €1.08 during trading hours on Thursday, hitting €19.90. 52,050 shares of the company’s stock traded hands, compared to its average volume of 508,276. The stock has a 50 day simple moving average of €21.09 and a 200-day simple moving average of €18.41. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.21. The company has a market cap of $6.03 billion, a PE ratio of 35.53, a PEG ratio of 1.73 and a beta of 0.75. Stevanato Group S.p.A. has a twelve month low of €12.89 and a twelve month high of €27.99.

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

Insiders Place Their Bets

In related news, insider Mauro Stocchi sold 13,649 shares of the company’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of €21.50, for a total value of €293,453.50. Following the sale, the insider directly 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 legal filing with the SEC, which is accessible through this link. Also, Director Elisabetta Magistretti sold 2,045 shares of Stevanato Group stock in a transaction dated Friday, August 7th. The stock was sold at an average price of €20.09, for a total value of €41,084.05. Following the completion of the transaction, the director owned 2,930 shares of the company’s stock, valued at €58,863.70. This trade represents a 41.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 over the last 90 days. 0.70% of the stock is owned by company insiders.

About Stevanato Group

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.