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

Stevanato Group S.p.A. (NYSE:STVN) Director Madhavan Balachandran sold 1,493 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of €17.09, for a total value of €25,515.37. Following the sale, the director owned 69,458 shares of the company’s stock, valued at €1,187,037.22. The trade was a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Stevanato Group Trading Down 3.3%

Shares of STVN opened at €17.79 on Friday. Stevanato Group S.p.A. has a 52-week low of €12.89 and a 52-week high of €28.00. The business’s fifty day moving average is €17.47 and its 200-day moving average is €17.26. 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 firm has a market cap of $5.39 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.64 and a beta of 0.78.

Stevanato Group (NYSE:STVN) last announced its quarterly earnings data on Friday, May 8th. The company reported €0.11 earnings per share for the quarter, missing the consensus estimate of €0.12 by (€0.01). Stevanato Group had a return on equity of 10.27% and a net margin of 11.76%.The business had revenue of €273.57 million for the quarter. During the same period in the prior year, the company posted $0.10 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. Equities analysts anticipate that Stevanato Group S.p.A. will post 0.68 EPS for the current fiscal year.

Stevanato Group Cuts Dividend

The firm also recently announced 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 of this dividend is Thursday, June 11th. This represents a yield of 31.0%.

Institutional Trading of Stevanato Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wyoming increased its stake in shares of Stevanato Group by 39,216.7% in the second quarter. State of Wyoming now owns 2,359 shares of the company’s stock valued at $58,000 after buying an additional 2,353 shares during the period. GW&K Investment Management LLC raised its holdings in Stevanato Group by 76.2% in the 4th quarter. GW&K Investment Management LLC now owns 2,440 shares of the company’s stock valued at $49,000 after buying an additional 1,055 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Stevanato Group during the 3rd quarter worth approximately $68,000. Fifth Third Bancorp boosted its position in Stevanato Group by 22.6% during the 1st quarter. Fifth Third Bancorp now owns 4,196 shares of the company’s stock worth $58,000 after buying an additional 773 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Stevanato Group by 1,268.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,585 shares of the company’s stock worth $112,000 after acquiring an additional 4,250 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STVN. TD Cowen upgraded shares of Stevanato Group to a “strong-buy” rating in a research note on Wednesday, June 17th. KeyCorp dropped their price objective on shares of Stevanato Group from $37.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Citigroup cut their target price on shares of 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 shares of Stevanato Group in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $21.00 target price on the stock. Finally, Morgan Stanley decreased their target price on shares of Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Friday, March 6th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Stevanato Group Company Profile

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.