State Street Corp Sells 17,026 Shares of Stevanato Group S.p.A. (NYSE:STVN)

State Street Corp cut its holdings in Stevanato Group S.p.A. (NYSE:STVN) by 7.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 214,157 shares of the company’s stock after selling 17,026 shares during the period. State Street Corp’s holdings in Stevanato Group were worth $4,283,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in STVN. nVerses Capital LLC bought a new stake in Stevanato Group in the third quarter worth $84,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Stevanato Group by 59.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,941 shares of the company’s stock worth $219,000 after acquiring an additional 4,441 shares during the last quarter. Hardy Reed LLC boosted its stake in shares of Stevanato Group by 8.2% during the 3rd quarter. Hardy Reed LLC now owns 11,077 shares of the company’s stock worth $222,000 after purchasing an additional 840 shares during the period. Lindenwold Advisors INC grew its holdings in Stevanato Group by 13.5% during the 3rd quarter. Lindenwold Advisors INC now owns 11,930 shares of the company’s stock valued at $239,000 after purchasing an additional 1,415 shares during the last quarter. Finally, Raymond James Trust N.A. raised its position in Stevanato Group by 22.6% in the 3rd quarter. Raymond James Trust N.A. now owns 12,556 shares of the company’s stock worth $251,000 after purchasing an additional 2,317 shares during the period.

Analyst Upgrades and Downgrades

STVN has been the subject of several research analyst reports. Bank of America lifted their target price on Stevanato Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Wolfe Research started coverage on Stevanato Group in a report on Friday, December 13th. They set an “outperform” rating and a $28.00 price objective on the stock. Finally, Morgan Stanley reiterated 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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of €28.60 ($29.79).

Stevanato Group Price Performance

NYSE STVN opened at €21.61 ($22.51) on Monday. The company has a market cap of $6.39 billion, a PE ratio of 45.98, a P/E/G ratio of 10.49 and a beta of 0.59. The firm’s 50 day moving average price is €20.34 and its 200-day moving average price is €19.86. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81. Stevanato Group S.p.A. has a 52-week low of €16.56 ($17.25) and a 52-week high of €34.73 ($36.18).

Stevanato Group (NYSE:STVN) last announced its earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of €0.13 ($0.14) by (€0.01) (($0.01)). The company had revenue of €277.90 million for the quarter, compared to the consensus estimate 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 was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.16 EPS. Sell-side analysts forecast that Stevanato Group S.p.A. will post 0.5 EPS for the current fiscal year.

Stevanato Group Profile

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.