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

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

Stevanato Group Price Performance

NYSE:STVN opened at €17.79 on Monday. The business’s 50-day simple moving average is €17.47 and its two-hundred day simple moving average is €17.23. Stevanato Group S.p.A. has a 52 week low of €12.89 and a 52 week high of €28.00. The stock has a market cap of $5.39 billion, a PE ratio of 30.15, a P/E/G ratio of 1.64 and a beta of 0.78. The company has a quick ratio of 1.11, a current ratio of 1.63 and a debt-to-equity ratio of 0.21.

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

Stevanato Group Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, July 29th. Stockholders 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%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STVN. Wolfe Research assumed coverage on Stevanato Group in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $21.00 target price on the stock. Weiss Ratings raised Stevanato Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. TD Cowen upgraded Stevanato Group to a “strong-buy” rating in a report on Wednesday, June 17th. Citigroup cut their price objective on Stevanato Group from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Finally, KeyCorp reduced their target price on Stevanato Group from $37.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Two investment 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.com, the company has an average rating of “Buy”.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in Stevanato Group by 10.8% in the first quarter. Royal Bank of Canada now owns 437,284 shares of the company’s stock worth $8,930,000 after buying an additional 42,731 shares in the last quarter. Sei Investments Co. boosted its position in Stevanato Group by 16.9% during the 2nd quarter. Sei Investments Co. now owns 231,244 shares of the company’s stock valued at $5,649,000 after acquiring an additional 33,419 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of Stevanato Group by 21.2% in the 2nd quarter. Raymond James Financial Inc. now owns 567,803 shares of the company’s stock valued at $13,871,000 after acquiring 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 acquiring an additional 87,942 shares during the period. Finally, Bamco Inc. NY raised its position 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 worth $46,125,000 after acquiring an additional 39,528 shares in the last quarter.

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.