Deutsche Bank AG Sells 50,007 Shares of Stevanato Group S.p.A. (NYSE:STVN)

Key Points

• Deutsche Bank AG reduced its stake in Stevanato Group S.p.A. by 5.1%, now holding approximately $19.19 million in shares, which represent about 0.31% of the company.
• Various hedge funds increased their stakes in Stevanato Group, with notable growth from Wells Fargo & Company MN, which raised its holdings by 680.3%.
• Stevanato Group maintains a consensus rating of "Moderate Buy" by analysts, with a price target of €25.13 ($29.56) following upgrades from firms like Stephens and William Blair.

Deutsche Bank AG lessened its holdings in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 939,654 shares of the company's stock after selling 50,007 shares during the period. Deutsche Bank AG owned 0.31% of Stevanato Group worth $19,188,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Bessemer Group Inc. lifted its holdings in Stevanato Group by 14,623.3% in the first quarter. Bessemer Group Inc. now owns 13,251 shares of the company's stock valued at $270,000 after buying an additional 13,161 shares during the period. Palisade Capital Management LP lifted its holdings in Stevanato Group by 52.0% in the first quarter. Palisade Capital Management LP now owns 91,431 shares of the company's stock valued at $1,867,000 after buying an additional 31,283 shares during the period. D. E. Shaw & Co. Inc. acquired a new position in Stevanato Group in the fourth quarter valued at $281,000. Envestnet Asset Management Inc. lifted its holdings in Stevanato Group by 16.9% in the first quarter. Envestnet Asset Management Inc. now owns 162,770 shares of the company's stock valued at $3,324,000 after buying an additional 23,545 shares during the period. Finally, Yarbrough Capital LLC acquired a new position in Stevanato Group in the first quarter valued at $329,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on STVN shares. William Blair reaffirmed an "outperform" rating on shares of Stevanato Group in a research note on Monday, June 30th. Stephens raised shares of Stevanato Group to a "strong-buy" rating in a research report on Monday, April 21st. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of €25.13 ($29.56).

Stevanato Group Stock Performance

Shares of Stevanato Group stock traded up €0.38 ($0.45) on Friday, reaching €22.55 ($26.53). 257,000 shares of the company traded hands, compared to its average volume of 428,017. Stevanato Group S.p.A. has a 52 week low of €17.12 ($20.14) and a 52 week high of €28.00 ($32.94). The company has a 50 day moving average of €24.48 and a 200 day moving average of €22.46. The firm has a market capitalization of $6.83 billion, a PE ratio of 41.76, a PEG ratio of 2.13 and a beta of 0.55. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.79 and a quick ratio of 1.22.

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.