Insider Selling: Stevanato Group (NYSE:STVN) Director Sells €25,515.37 in Stock

Stevanato Group S.p.A. (NYSE:STVN) Director Madhavan Balachandran sold 1,493 shares of Stevanato Group stock in a transaction on Monday, June 15th. The shares were sold at an average price of €17.09, for a total transaction of €25,515.37. Following the completion of the sale, the director directly owned 69,458 shares of the company’s stock, valued at approximately €1,187,037.22. This trade represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Stevanato Group Stock Down 0.3%

STVN stock opened at €17.79 on Monday. The stock’s 50 day simple moving average is €17.47 and its 200 day simple moving average is €17.23. The company has a market cap of $5.39 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 1.64 and a beta of 0.78. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.63. Stevanato Group S.p.A. has a fifty-two week low of €12.89 and a fifty-two week high of €28.00.

Stevanato Group (NYSE:STVN) last released its quarterly earnings data 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). The business had revenue of €273.57 million during the quarter. Stevanato Group had a net margin of 11.76% and a return on equity of 10.27%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.10 earnings per share. On average, research analysts expect that Stevanato Group S.p.A. will post 0.68 earnings per share for the current fiscal year.

Stevanato Group Cuts Dividend

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

Institutional Investors Weigh In On Stevanato Group

Several institutional investors have recently made changes to their positions in STVN. ArrowMark Colorado Holdings LLC grew its holdings in shares of Stevanato Group by 6.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,392,581 shares of the company’s stock worth $35,859,000 after purchasing an additional 86,971 shares in the last quarter. Cooper Investors PTY Ltd. raised its stake in Stevanato Group by 17.8% in the fourth quarter. Cooper Investors PTY Ltd. now owns 695,245 shares of the company’s stock valued at $13,988,000 after purchasing an additional 104,937 shares in the last quarter. Bamco Inc. NY raised its stake in Stevanato Group by 4.5% in the third quarter. Bamco Inc. NY now owns 1,973,759 shares of the company’s stock valued at $50,824,000 after purchasing an additional 85,709 shares in the last quarter. Jennison Associates LLC lifted its position in Stevanato Group by 13.7% during the fourth quarter. Jennison Associates LLC now owns 1,772,896 shares of the company’s stock valued at $35,671,000 after purchasing an additional 213,602 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB bought a new stake in Stevanato Group during the third quarter valued at approximately $1,313,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on STVN shares. Wolfe Research began coverage on Stevanato Group in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $21.00 price target for the company. Weiss Ratings raised Stevanato Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Morgan Stanley reduced their price objective on Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating for the company in a research note on Friday, March 6th. Citigroup lowered their target price on Stevanato Group from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Finally, KeyCorp cut their price target on shares of Stevanato Group from $37.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Stevanato Group Company Profile

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.