Wellington Management Group LLP Acquires New Position in Stevanato Group S.p.A. $STVN

Wellington Management Group LLP acquired a new stake in Stevanato Group S.p.A. (NYSE:STVN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,251,844 shares of the company’s stock, valued at approximately $22,621,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in Stevanato Group by 10.8% during the first quarter. Royal Bank of Canada now owns 437,284 shares of the company’s stock worth $8,930,000 after acquiring an additional 42,731 shares during the period. Sei Investments Co. grew its stake in shares of Stevanato Group by 16.9% during the 2nd quarter. Sei Investments Co. now owns 231,244 shares of the company’s stock worth $5,649,000 after purchasing an additional 33,419 shares during the period. Raymond James Financial Inc. grew its stake in shares of Stevanato Group by 21.2% during the 2nd quarter. Raymond James Financial Inc. now owns 567,803 shares of the company’s stock worth $13,871,000 after purchasing an additional 99,328 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Stevanato Group by 14.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 708,821 shares of the company’s stock valued at $17,316,000 after purchasing an additional 87,942 shares in the last quarter. Finally, Bamco Inc. NY increased its holdings in shares of Stevanato Group by 2.1% in the 2nd quarter. Bamco Inc. NY now owns 1,888,050 shares of the company’s stock valued at $46,125,000 after purchasing an additional 39,528 shares in the last quarter.

Stevanato Group Trading Down 0.4%

Shares of STVN stock opened at €20.45 on Friday. The stock has a market cap of $6.19 billion, a P/E ratio of 36.52, a P/E/G ratio of 1.68 and a beta of 0.75. 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 S.p.A. has a fifty-two week low of €12.89 and a fifty-two week high of €28.00. The business has a fifty day simple moving average of €20.33 and a 200-day simple moving average of €17.68.

Stevanato Group (NYSE:STVN) last released its quarterly earnings data 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%. On average, analysts forecast that Stevanato Group S.p.A. will post 0.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on STVN shares. Wolfe Research initiated coverage on shares of Stevanato Group in a report on Tuesday, June 2nd. They set an “outperform” rating and a $21.00 price objective on the stock. TD Cowen raised shares of Stevanato Group to a “strong-buy” rating in a report on Wednesday, June 17th. Finally, Weiss Ratings upgraded shares of Stevanato Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Insider Activity at Stevanato Group

In other news, Director Elisabetta Magistretti sold 2,045 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of €20.09, for a total value of €41,084.05. Following the sale, the director directly owned 2,930 shares in the company, valued at €58,863.70. This represents a 41.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Flynn sold 1,493 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of €17.09, for a total transaction of €25,515.37. Following the transaction, the director directly owned 5,757 shares of the company’s stock, valued at approximately €98,387.13. This trade represents a 20.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 14,249 shares of company stock valued at $268,346 in the last quarter. 0.70% of the stock is owned by corporate insiders.

About Stevanato Group

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.