Conestoga Capital Advisors LLC Has $116.76 Million Stock Position in Stevanato Group S.p.A. $STVN

Key Points

• Conestoga Capital Advisors boosted its stake in Stevanato Group by 7.6% in the first quarter, bringing its holdings to 8.49 million shares worth about $116.8 million. The position now represents roughly 2.3% of Conestoga’s portfolio and is its 18th-largest holding.
• Insiders sold shares in recent weeks, including directors William J. Federici and Donald E. Morel, Jr., who each sold 1,493 shares to cover tax withholding obligations tied to equity awards. Over the past 90 days, insiders have sold 5,972 shares worth about $102,061.
• Analyst sentiment is mixed but leaning positive: TD Cowen upgraded STVN to strong-buy, while other firms trimmed price targets. The stock recently traded at €18.35, and the company reported quarterly revenue growth of 6.6% but slightly missed EPS expectations.

Conestoga Capital Advisors LLC raised its position in Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 7.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 8,491,751 shares of the company's stock after acquiring an additional 602,050 shares during the period. Stevanato Group makes up about 2.3% of Conestoga Capital Advisors LLC's holdings, making the stock its 18th largest position. Conestoga Capital Advisors LLC owned 2.80% of Stevanato Group worth $116,762,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings 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 purchasing an additional 42,731 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Stevanato Group by 16.9% during the second quarter. Sei Investments Co. now owns 231,244 shares of the company's stock valued at $5,649,000 after buying an additional 33,419 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Stevanato Group by 21.2% during the second quarter. Raymond James Financial Inc. now owns 567,803 shares of the company's stock worth $13,871,000 after acquiring an additional 99,328 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Stevanato Group by 14.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 708,821 shares of the company's stock worth $17,316,000 after acquiring an additional 87,942 shares during the last quarter. Finally, Bamco Inc. NY lifted its position in Stevanato Group by 2.1% in the 2nd quarter. Bamco Inc. NY now owns 1,888,050 shares of the company's stock valued at $46,125,000 after acquiring an additional 39,528 shares in the last quarter.

Insider Buying and Selling

In related news, Director William J. Federici sold 1,493 shares of the business's stock in a transaction 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 sale, the director directly owned 26,991 shares in the company, valued at approximately €461,276.19. The trade was a 5.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Donald E. Morel, Jr. sold 1,493 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of €17.09, for a total value of €25,515.37. Following the sale, the director directly owned 37,424 shares in the company, valued at €639,576.16. This trade represents a 3.84% 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. In the last ninety days, insiders have sold 5,972 shares of company stock worth $102,061. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on STVN. Morgan Stanley lowered their price objective on Stevanato Group from $24.00 to $19.00 and set an "equal weight" rating for the company in a research note on Friday, March 6th. TD Cowen upgraded Stevanato Group to a "strong-buy" rating in a research note on Wednesday, June 17th. Citigroup cut their price objective on shares of Stevanato Group from $32.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. Wolfe Research began coverage on shares of Stevanato Group in a research note on Tuesday, June 2nd. They issued an "outperform" rating and a $21.00 target price for the company. Finally, KeyCorp lowered their target price on shares of Stevanato Group from $37.00 to $32.00 and set an "overweight" rating for the company in a report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy".

Stevanato Group Stock Performance

STVN stock opened at €18.35 on Thursday. The firm has a market cap of $5.56 billion, a PE ratio of 31.11, a P/E/G ratio of 1.66 and a beta of 0.78. The company has a quick ratio of 1.11, a current ratio of 1.63 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average of €17.61 and a 200-day moving average of €17.16. Stevanato Group S.p.A. has a 12-month low of €12.89 and a 12-month high of €28.00.

Stevanato Group (NYSE:STVN - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported €0.11 earnings per share for the quarter, missing the consensus estimate of €0.12 by (€0.01). Stevanato Group had a net margin of 11.76% and a return on equity of 10.27%. The company had revenue of €273.57 million for the quarter. During the same period in the prior year, the firm posted $0.10 EPS. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Stevanato Group S.p.A. will post 0.68 earnings per share for the current year.

Stevanato Group Cuts Dividend

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

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.

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