Pictet Asset Management Holding SA Sells 12,172 Shares of Stevanato Group S.p.A. (NYSE:STVN)

Pictet Asset Management Holding SA trimmed its position in Stevanato Group S.p.A. (NYSE:STVN) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 715,719 shares of the company’s stock after selling 12,172 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Stevanato Group were worth $15,596,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC grew its stake in shares of Stevanato Group by 114.6% in the fourth quarter. TimesSquare Capital Management LLC now owns 3,288,529 shares of the company’s stock valued at $71,657,000 after acquiring an additional 1,756,100 shares in the last quarter. Jennison Associates LLC bought a new stake in Stevanato Group in the 4th quarter valued at about $20,239,000. Mutual of America Capital Management LLC acquired a new position in shares of Stevanato Group during the 4th quarter worth approximately $13,848,000. Artisan Partners Limited Partnership increased its holdings in shares of Stevanato Group by 28.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,355,799 shares of the company’s stock worth $51,333,000 after purchasing an additional 524,989 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of Stevanato Group by 56.3% in the fourth quarter. Teacher Retirement System of Texas now owns 1,250,000 shares of the company’s stock valued at $27,238,000 after buying an additional 450,000 shares in the last quarter.

Analysts Set New Price Targets

STVN has been the subject of several analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $23.00 price objective (down from $24.00) on shares of Stevanato Group in a report on Tuesday, December 3rd. Wolfe Research began coverage on Stevanato Group in a research note on Friday, December 13th. They issued an “outperform” rating and a $28.00 price target for the company. UBS Group reduced their price objective on shares of Stevanato Group from $24.00 to $23.50 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Bank of America boosted their target price on shares of Stevanato Group from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, William Blair reiterated an “outperform” rating on shares of Stevanato Group in a research report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Stevanato Group presently has an average rating of “Moderate Buy” and an average price target of €25.70 ($27.63).

Stevanato Group Trading Up 2.4 %

STVN opened at €20.92 ($22.49) on Wednesday. The company has a market cap of $6.34 billion, a P/E ratio of 44.51, a PEG ratio of 7.18 and a beta of 0.60. The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is €20.82 and its 200-day moving average is €20.61. Stevanato Group S.p.A. has a 1-year low of €16.56 ($17.81) and a 1-year high of €32.98 ($35.46).

Stevanato Group (NYSE:STVN) last posted its earnings results on Thursday, March 6th. The company reported €0.20 ($0.22) earnings per share for the quarter, hitting analysts’ consensus estimates of €0.20 ($0.22). Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. The firm had revenue of €352.68 million for the quarter, compared to analysts’ expectations of €346.26 million. Equities research analysts predict that Stevanato Group S.p.A. will post 0.5 earnings per share for the current fiscal 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.