Riverbridge Partners LLC Sells 116,856 Shares of Stevanato Group S.p.A. (NYSE:STVN)

Riverbridge Partners LLC trimmed its stake in Stevanato Group S.p.A. (NYSE:STVN) by 10.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,025,197 shares of the company’s stock after selling 116,856 shares during the period. Riverbridge Partners LLC’s holdings in Stevanato Group were worth $22,339,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in STVN. Wellington Management Group LLP lifted its holdings in shares of Stevanato Group by 4.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,693,588 shares of the company’s stock valued at $53,872,000 after purchasing an additional 115,050 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Stevanato Group by 12.7% during the third quarter. Glenmede Trust Co. NA now owns 35,941 shares of the company’s stock valued at $719,000 after acquiring an additional 4,050 shares in the last quarter. AMI Asset Management Corp purchased a new position in shares of Stevanato Group in the 4th quarter valued at approximately $1,089,000. Raymond James & Associates raised its position in shares of Stevanato Group by 21.8% in the 3rd quarter. Raymond James & Associates now owns 281,455 shares of the company’s stock valued at $5,629,000 after purchasing an additional 50,380 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in Stevanato Group by 20.3% in the 3rd quarter. Natixis Advisors LLC now owns 51,343 shares of the company’s stock worth $1,027,000 after purchasing an additional 8,669 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wolfe Research initiated coverage on shares of Stevanato Group in a research note on Friday, December 13th. They set an “outperform” rating and a $28.00 price target on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $23.00 price target (down previously from $24.00) on shares of Stevanato Group in a research report on Tuesday, December 3rd. Finally, Bank of America increased their price objective on Stevanato Group from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of €28.60 ($29.79).

Stevanato Group Stock Down 3.3 %

STVN stock opened at €21.44 ($22.33) on Thursday. Stevanato Group S.p.A. has a one year low of €16.56 ($17.25) and a one year high of €34.73 ($36.18). The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81. The firm’s fifty day moving average is €21.38 and its 200 day moving average is €20.46. The firm has a market cap of $6.49 billion, a PE ratio of 45.62, a P/E/G ratio of 7.68 and a beta of 0.56.

Stevanato Group (NYSE:STVN) last posted its earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) EPS for the quarter, missing analysts’ consensus estimates of €0.13 ($0.14) by (€0.01) (($0.01)). The business had revenue of €277.90 million for the quarter, compared to analyst estimates of €274.36 million. Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. Stevanato Group’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $0.16 earnings per share. On average, research analysts forecast that Stevanato Group S.p.A. will post 0.5 EPS for the current year.

About Stevanato Group

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.