Donald Morel, Jr. Sells 1,493 Shares of Stevanato Group (NYSE:STVN) Stock

Stevanato Group S.p.A. (NYSE:STVN) Director Donald Morel, Jr. sold 1,493 shares of the company’s 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 transaction, the director owned 37,424 shares of the company’s stock, valued at €639,576.16. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Stevanato Group Stock Performance

Stevanato Group stock opened at €17.79 on Friday. Stevanato Group S.p.A. has a 12-month low of €12.89 and a 12-month high of €28.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.63 and a quick ratio of 1.11. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 1.64 and a beta of 0.78. The firm’s fifty day moving average price is €17.47 and its 200 day moving average price is €17.26.

Stevanato Group (NYSE:STVN) last posted 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 firm 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%. Stevanato Group’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share. On average, research analysts forecast that Stevanato Group S.p.A. will post 0.68 EPS for the current fiscal year.

Stevanato Group Cuts Dividend

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Stevanato Group by 10.8% in the 1st quarter. Royal Bank of Canada now owns 437,284 shares of the company’s stock worth $8,930,000 after acquiring an additional 42,731 shares in the last quarter. Sei Investments Co. lifted its stake in Stevanato Group by 16.9% during the second quarter. Sei Investments Co. now owns 231,244 shares of the company’s stock worth $5,649,000 after purchasing an additional 33,419 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in Stevanato Group by 21.2% in the second quarter. Raymond James Financial Inc. now owns 567,803 shares of the company’s stock worth $13,871,000 after purchasing an additional 99,328 shares during the period. Ameriprise Financial Inc. boosted its holdings in Stevanato Group by 14.2% in the second quarter. Ameriprise Financial Inc. now owns 708,821 shares of the company’s stock worth $17,316,000 after purchasing an additional 87,942 shares during the period. Finally, Bamco Inc. NY increased its stake in Stevanato Group by 2.1% during the second quarter. Bamco Inc. NY now owns 1,888,050 shares of the company’s stock valued at $46,125,000 after purchasing an additional 39,528 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have issued reports on STVN. Citigroup cut their target price 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. Weiss Ratings upgraded shares of Stevanato Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. TD Cowen raised shares of Stevanato Group to a “strong-buy” rating in a report on Wednesday, June 17th. KeyCorp reduced their price objective on shares of Stevanato Group from $37.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Finally, Morgan Stanley decreased their price objective on shares of Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating for the company in a report on Friday, March 6th. Two equities 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 company. According to data from MarketBeat, Stevanato Group currently has a consensus 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.