Royce & Associates LP Sells 44,400 Shares of Stevanato Group S.p.A. (NYSE:STVN)

Royce & Associates LP cut its stake in Stevanato Group S.p.A. (NYSE:STVN) by 9.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 413,935 shares of the company’s stock after selling 44,400 shares during the period. Royce & Associates LP owned about 0.14% of Stevanato Group worth $8,453,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Conestoga Capital Advisors LLC lifted its stake in Stevanato Group by 1.3% in the first quarter. Conestoga Capital Advisors LLC now owns 8,189,926 shares of the company’s stock worth $167,238,000 after acquiring an additional 106,930 shares during the period. TimesSquare Capital Management LLC increased its holdings in Stevanato Group by 2.1% in the 1st quarter. TimesSquare Capital Management LLC now owns 3,358,966 shares of the company’s stock worth $68,590,000 after buying an additional 70,437 shares during the period. Artisan Partners Limited Partnership increased its holdings in Stevanato Group by 28.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,355,799 shares of the company’s stock worth $51,333,000 after buying an additional 524,989 shares during the period. Bamco Inc. NY increased its holdings in Stevanato Group by 7.9% in the 4th quarter. Bamco Inc. NY now owns 1,818,181 shares of the company’s stock worth $39,618,000 after buying an additional 133,000 shares during the period. Finally, Jennison Associates LLC increased its holdings in Stevanato Group by 27.9% in the 1st quarter. Jennison Associates LLC now owns 1,188,057 shares of the company’s stock worth $24,260,000 after buying an additional 259,231 shares during the period.

Stevanato Group Stock Down 6.3%

NYSE STVN opened at €26.18 ($30.80) on Friday. Stevanato Group S.p.A. has a 52 week low of €17.12 ($20.14) and a 52 week high of €28.00 ($32.94). The company has a quick ratio of 1.26, a current ratio of 1.83 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is €24.22 and its 200-day simple moving average is €22.32. The firm has a market cap of $7.93 billion, a PE ratio of 51.33, a P/E/G ratio of 2.66 and a beta of 0.55.

Stevanato Group Increases Dividend

The business also recently declared an annual dividend, which was paid on Thursday, July 17th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.0613 per share. This represents a dividend yield of 0.3%. The ex-dividend date was Thursday, June 5th. This is a positive change from Stevanato Group’s previous annual dividend of $0.05.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Stevanato Group in a research note on Monday, June 30th. Stephens upgraded Stevanato Group to a “strong-buy” rating in a report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of €25.70 ($30.24).

Stevanato Group Company 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.