Insider Selling: Stevanato Group (NYSE:STVN) Director Sells 1,493 Shares of Stock

Stevanato Group S.p.A. (NYSE:STVN) Director William Federici sold 1,493 shares of Stevanato Group stock in a transaction 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 26,991 shares in the company, valued at €461,276.19. This represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Stevanato Group Stock Performance

NYSE STVN opened at €18.36 on Friday. The company has a fifty day moving average price of €17.41 and a 200-day moving average price of €17.26. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 1.59 and a beta of 0.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.63 and a quick ratio of 1.11. Stevanato Group S.p.A. has a 1 year low of €12.89 and a 1 year high of €28.00.

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

Stevanato Group Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Thursday, June 11th will be given a dividend of $0.054 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a dividend yield of 31.0%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of STVN. Conestoga Capital Advisors LLC increased its stake in shares of Stevanato Group by 7.6% during the 1st quarter. Conestoga Capital Advisors LLC now owns 8,491,751 shares of the company’s stock worth $116,762,000 after purchasing an additional 602,050 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Stevanato Group by 10.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,923,632 shares of the company’s stock valued at $78,944,000 after purchasing an additional 368,792 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in Stevanato Group by 7.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 3,500,321 shares of the company’s stock valued at $70,426,000 after purchasing an additional 232,645 shares during the last quarter. Bamco Inc. NY grew its holdings in Stevanato Group by 1.4% during the fourth quarter. Bamco Inc. NY now owns 2,001,724 shares of the company’s stock valued at $40,275,000 after purchasing an additional 27,965 shares during the period. Finally, Jennison Associates LLC increased its position in Stevanato Group by 13.7% in the fourth quarter. Jennison Associates LLC now owns 1,772,896 shares of the company’s stock worth $35,671,000 after buying an additional 213,602 shares during the last quarter.

Wall Street Analyst Weigh In

STVN has been the subject of several recent analyst reports. KeyCorp reduced their target price on Stevanato Group from $37.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Citigroup dropped their price target on Stevanato Group from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. TD Cowen raised Stevanato Group to a “strong-buy” rating in a research report on Wednesday, June 17th. Weiss Ratings upgraded Stevanato Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Finally, Morgan Stanley decreased their target price on Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating for the company in a research report on Friday, March 6th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Stevanato Group has an average rating of “Buy”.

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.