Stevanato Group (NYSE:STVN) Director Madhavan Balachandran Sells 1,493 Shares of Stock

Stevanato Group S.p.A. (NYSE:STVNGet Free Report) Director Madhavan Balachandran sold 1,493 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of €17.09, for a total transaction of €25,515.37. Following the transaction, the director owned 69,458 shares in the company, valued at approximately €1,187,037.22. The trade was a 2.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 3.3%

NYSE STVN opened at €17.79 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. Stevanato Group S.p.A. has a 1-year low of €12.89 and a 1-year high of €28.00. The company has a 50 day moving average of €17.47 and a 200-day moving average of €17.26. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.69 and a beta of 0.78.

Stevanato Group (NYSE:STVNGet Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported €0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of €0.12 by (€0.01). The company 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 revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. On average, equities 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 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. This represents a dividend yield of 31.0%. The ex-dividend date is Thursday, June 11th.

Analyst Ratings Changes

Several analysts have recently issued reports on STVN shares. KeyCorp reduced their target price on Stevanato Group from $37.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Wolfe Research started coverage on shares of Stevanato Group in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $21.00 price objective for the company. Morgan Stanley reduced their price objective on shares of Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Friday, March 6th. TD Cowen raised shares of Stevanato Group to a “strong-buy” rating in a report on Wednesday, June 17th. Finally, Weiss Ratings upgraded shares of Stevanato Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Stevanato Group has a consensus rating of “Buy”.

Get Our Latest Research Report on Stevanato Group

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of STVN. Royal Bank of Canada lifted its holdings in shares of 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 acquiring an additional 42,731 shares during the last quarter. Sei Investments Co. grew its holdings in shares of 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 purchasing an additional 33,419 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Stevanato Group by 21.2% during the 2nd quarter. Raymond James Financial Inc. now owns 567,803 shares of the company’s stock valued at $13,871,000 after purchasing an additional 99,328 shares during the last quarter. Ameriprise Financial Inc. increased its position in Stevanato Group by 14.2% during the 2nd 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 in the last quarter. Finally, Bamco Inc. NY increased its position in Stevanato Group by 2.1% during the 2nd quarter. Bamco Inc. NY now owns 1,888,050 shares of the company’s stock worth $46,125,000 after purchasing an additional 39,528 shares in the last quarter.

About Stevanato Group

(Get Free Report)

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.

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