Stevanato Group S.p.A. (NYSE:STVN) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its position in Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 22.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 261,607 shares of the company's stock after selling 77,677 shares during the period. Bank of America Corp DE owned about 0.09% of Stevanato Group worth $5,700,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC boosted its stake in shares of Stevanato Group by 114.6% during the 4th quarter. TimesSquare Capital Management LLC now owns 3,288,529 shares of the company's stock worth $71,657,000 after acquiring an additional 1,756,100 shares in the last quarter. Jennison Associates LLC acquired a new position in Stevanato Group during the fourth quarter worth $20,239,000. Mutual of America Capital Management LLC purchased a new position in shares of Stevanato Group in the fourth quarter valued at $13,848,000. Ranger Investment Management L.P. acquired a new position in shares of Stevanato Group during the 4th quarter worth $12,940,000. Finally, Artisan Partners Limited Partnership boosted its position 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 worth $51,333,000 after buying an additional 524,989 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stephens raised shares of Stevanato Group to a "strong-buy" rating in a research note on Monday, April 21st. UBS Group decreased their target price on shares of Stevanato Group from $24.00 to $23.50 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Finally, William Blair reiterated an "outperform" rating on shares of Stevanato Group in a report on Friday, March 7th. Two 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of €25.70 ($29.20).

Stevanato Group Stock Down 3.6%

Shares of NYSE STVN traded down €0.83 ($0.94) during midday trading on Friday, reaching €22.05 ($25.06). 200,585 shares of the company's stock were exchanged, compared to its average volume of 338,131. The stock has a market capitalization of $6.68 billion, a PE ratio of 46.91, a price-to-earnings-growth ratio of 7.18 and a beta of 0.51. Stevanato Group S.p.A. has a 52-week low of €16.56 ($18.82) and a 52-week high of €25.75 ($29.26). The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81. The business's fifty day moving average price is €21.78 and its two-hundred day moving average price is €21.34.

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

Stevanato Group Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, July 17th. Stockholders of record on Thursday, June 5th will be given a $0.0613 dividend. This is a positive change from Stevanato Group's previous annual dividend of $0.05. The ex-dividend date of this dividend is Thursday, June 5th. This represents a dividend yield of 0.3%. Stevanato Group's dividend payout ratio (DPR) is presently 11.76%.

Stevanato Group Company Profile

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.