Stevanato Group (NYSE:STVN) Shares Down 6.2% After Insider Selling

Stevanato Group S.p.A. (NYSE:STVN) shares fell 6.2% during trading on Thursday after an insider sold shares in the company. The company traded as low as €19.78 and last traded at €19.68. 83,573 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 508,382 shares. The stock had previously closed at €20.98.

Specifically, insider Mauro Stocchi sold 13,649 shares of the company’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of €21.50, for a total transaction of €293,453.50. Following the completion of the sale, the insider owned 400,000 shares in the company, valued at approximately €8,600,000. This represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

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

Stevanato Group Stock Down 6.2%

The firm has a market capitalization of $5.96 billion, a PE ratio of 35.14, a P/E/G ratio of 1.73 and a beta of 0.75. 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.

Stevanato Group (NYSE:STVN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported €0.14 EPS for the quarter, missing analysts’ consensus estimates of €0.15 by (€0.01). The firm had revenue of €302.00 million for the quarter. Stevanato Group had a net margin of 10.99% and a return on equity of 10.43%. Analysts forecast that Stevanato Group S.p.A. will post 0.69 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP purchased a new position in shares of Stevanato Group during the 2nd quarter valued at about $22,621,000. Ranger Investment Management L.P. purchased a new position in shares of Stevanato Group in the second quarter worth $21,438,000. Conestoga Capital Advisors LLC grew its stake in shares of Stevanato Group by 7.6% in the first quarter. Conestoga Capital Advisors LLC now owns 8,491,751 shares of the company’s stock worth $116,762,000 after acquiring an additional 602,050 shares during the period. Confluence Investment Management LLC purchased a new stake in Stevanato Group in the second quarter worth approximately $6,062,000. Finally, Roubaix Capital LLC grew its position in Stevanato Group by 96.6% in the 1st quarter. Roubaix Capital LLC now owns 385,316 shares of the company’s stock worth $5,298,000 after purchasing an additional 189,343 shares during the period.

Stevanato Group Company Profile

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.