Bank of America Corp DE Reduces Holdings in Stevanato Group S.p.A. (NYSE:STVN)

Bank of America Corp DE lessened its holdings in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,607 shares of the company's stock after selling 77,677 shares during the period. Bank of America Corp DE owned 0.09% of Stevanato Group worth $5,700,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Conestoga Capital Advisors LLC grew its stake in Stevanato Group by 5.3% during the 4th quarter. Conestoga Capital Advisors LLC now owns 8,082,996 shares of the company's stock valued at $176,128,000 after acquiring an additional 407,086 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Stevanato Group by 114.6% in the 4th quarter. TimesSquare Capital Management LLC now owns 3,288,529 shares of the company's stock valued at $71,657,000 after buying an additional 1,756,100 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Stevanato Group by 28.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,355,799 shares of the company's stock valued at $51,333,000 after buying an additional 524,989 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Stevanato Group by 56.3% in the 4th 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 during the period. Finally, Jennison Associates LLC purchased a new stake in shares of Stevanato Group in the 4th quarter valued at approximately $20,239,000.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. William Blair reissued an "outperform" rating on shares of Stevanato Group in a research note on Friday, March 7th. Stephens raised shares of Stevanato Group to a "strong-buy" rating in a research note on Monday, April 21st. Finally, UBS Group lowered their price objective on shares of Stevanato Group from $24.00 to $23.50 and set a "neutral" rating for the company in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Stevanato Group presently has an average rating of "Moderate Buy" and a consensus target price of €25.70 ($29.20).

Stevanato Group Stock Down 3.6%

Stevanato Group stock traded down €0.83 ($0.94) during mid-day trading on Friday, reaching €22.05 ($25.06). 200,500 shares of the company's stock were exchanged, compared to its average volume of 338,130. The company has a market cap of $6.68 billion, a P/E ratio of 46.91, a P/E/G ratio of 7.18 and a beta of 0.51. Stevanato Group S.p.A. has a twelve month low of €16.56 ($18.82) and a twelve month high of €25.75 ($29.26). The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average of €21.79 and a 200-day moving average of €21.35.

Stevanato Group (NYSE:STVN - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported €0.20 ($0.23) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of €0.20 ($0.23). The company had revenue of €352.68 million for the quarter, compared to analyst estimates of €346.26 million. Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. Sell-side analysts expect that Stevanato Group S.p.A. will post 0.5 EPS for the current year.

Stevanato Group Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, July 17th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.0613 per share. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from Stevanato Group's previous annual dividend of $0.05. This represents a yield of 0.3%. Stevanato Group's dividend payout ratio is 11.76%.

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.