Conestoga Capital Advisors LLC Sells 65,165 Shares of Stevanato Group S.p.A. $STVN

Key Points

• Conestoga Capital Advisors LLC has reduced its stake in Stevanato Group by 0.8%, selling 65,165 shares and now holding approximately 8.1 million shares, valued at $198,488,000.
• Other hedge funds, including T. Rowe Price and Jennison Associates, have increased their stakes in Stevanato Group, with Jennison increasing holdings by 27.9%.
• Stevanato Group holds an average analyst rating of "Moderate Buy", with varying ratings including one "Strong Buy" and three "Buy" ratings from analysts.

Conestoga Capital Advisors LLC lowered its stake in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,124,761 shares of the company's stock after selling 65,165 shares during the quarter. Stevanato Group comprises approximately 2.9% of Conestoga Capital Advisors LLC's investment portfolio, making the stock its 9th largest holding. Conestoga Capital Advisors LLC owned about 2.68% of Stevanato Group worth $198,488,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its holdings in shares of Stevanato Group by 13.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,744,714 shares of the company's stock valued at $76,468,000 after acquiring an additional 439,722 shares in the last quarter. TimesSquare Capital Management LLC increased its holdings in Stevanato Group by 2.1% in the 1st quarter. TimesSquare Capital Management LLC now owns 3,358,966 shares of the company's stock worth $68,590,000 after buying an additional 70,437 shares during the period. Jennison Associates LLC increased its holdings in Stevanato Group by 27.9% in the 1st quarter. Jennison Associates LLC now owns 1,188,057 shares of the company's stock worth $24,260,000 after buying an additional 259,231 shares during the period. Invesco Ltd. acquired a new position in Stevanato Group in the 1st quarter worth approximately $19,072,000. Finally, Champlain Investment Partners LLC acquired a new position in Stevanato Group in the 1st quarter worth approximately $15,741,000.

Analysts Set New Price Targets

STVN has been the topic of several research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Stevanato Group in a report on Wednesday, October 8th. William Blair reaffirmed an "outperform" rating on shares of Stevanato Group in a report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Stevanato Group Price Performance

NYSE:STVN opened at €24.69 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.79 and a quick ratio of 1.22. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 45.72, a price-to-earnings-growth ratio of 2.30 and a beta of 0.57. The company has a 50 day moving average price of €24.46 and a 200-day moving average price of €23.69. Stevanato Group S.p.A. has a 1-year low of €17.12 and a 1-year high of €28.00.

Stevanato Group 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.

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