Bank of America Corp DE Sells 784,125 Shares of Stevanato Group S.p.A. $STVN

Key Points

• Bank of America cut its Stevanato Group stake by 82.8% in the first quarter, selling 784,125 shares and retaining 163,149 shares valued at approximately $2.24 million.
• Analyst sentiment remains generally positive: the stock has an average “Buy” rating, including a “Strong Buy” upgrade from TD Cowen and a $21 price target from Wolfe Research.
• Stevanato Group recently reported quarterly EPS of €0.14, slightly below the €0.15 consensus estimate, on €302 million in revenue. Shares opened at €20.66, near their 50-day moving average of €20.16.

Bank of America Corp DE reduced its position in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 82.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,149 shares of the company's stock after selling 784,125 shares during the period. Bank of America Corp DE owned approximately 0.05% of Stevanato Group worth $2,243,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State of Wyoming boosted its stake in Stevanato Group by 39,216.7% during the second quarter. State of Wyoming now owns 2,359 shares of the company's stock valued at $58,000 after buying an additional 2,353 shares during the period. GW&K Investment Management LLC increased its stake in Stevanato Group by 76.2% in the 4th quarter. GW&K Investment Management LLC now owns 2,440 shares of the company's stock worth $49,000 after acquiring an additional 1,055 shares during the last quarter. Quantbot Technologies LP bought a new position in Stevanato Group in the 3rd quarter worth about $68,000. Fifth Third Bancorp increased its stake in Stevanato Group by 22.6% in the 1st quarter. Fifth Third Bancorp now owns 4,196 shares of the company's stock worth $58,000 after acquiring an additional 773 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Stevanato Group by 1,268.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,585 shares of the company's stock valued at $112,000 after acquiring an additional 4,250 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STVN. Wolfe Research began coverage on Stevanato Group in a report on Tuesday, June 2nd. They set an "outperform" rating and a $21.00 price objective for the company. Weiss Ratings raised shares of Stevanato Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 27th. Finally, TD Cowen upgraded shares of Stevanato Group to a "strong-buy" rating in a research report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy".

Stevanato Group Stock Performance

Shares of NYSE STVN opened at €20.66 on Wednesday. The stock's 50-day moving average is €20.16 and its 200 day moving average is €17.60. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 36.89, a P/E/G ratio of 1.76 and a beta of 0.74. 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 current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.21.

Stevanato Group (NYSE:STVN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported €0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of €0.15 by (€0.01). The firm had revenue of €302.00 million during the quarter. Stevanato Group had a return on equity of 10.43% and a net margin of 10.99%. On average, sell-side analysts anticipate that Stevanato Group S.p.A. will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Elisabetta Magistretti sold 2,045 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of €20.09, for a total value of €41,084.05. Following the completion of the sale, the director owned 2,930 shares of the company's stock, valued at approximately €58,863.70. This represents a 41.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Luciano Santel sold 2,023 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of €20.09, for a total transaction of €40,642.07. Following the transaction, the director directly owned 4,739 shares in the company, valued at approximately €95,206.51. This represents a 29.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 14,249 shares of company stock worth $268,346 in the last ninety days.

Stevanato Group 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.

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