Fenimore Asset Management Inc Buys 582,070 Shares of Stevanato Group S.p.A. $STVN

Key Points

• Fenimore Asset Management initiated a position in Stevanato Group by purchasing 582,070 shares valued at approximately $12.2 million, representing about 0.19% of the company.
• Stevanato Group shares fell 0.7% to €19.30, while the company’s latest quarterly earnings of €0.14 per share narrowly missed analysts’ €0.15 estimate on revenue of €302 million.
• Analyst sentiment remains positive, with the stock holding a “Moderate Buy” consensus rating; coverage includes UBS’s neutral rating with a $23 price target and TD Cowen’s “strong-buy” upgrade.

Fenimore Asset Management Inc purchased a new position in Stevanato Group S.p.A. (NYSE:STVN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 582,070 shares of the company's stock, valued at approximately $12,212,000. Fenimore Asset Management Inc owned approximately 0.19% of Stevanato Group as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in shares of Stevanato Group during the 2nd quarter valued at about $22,621,000. Squarepoint Ops LLC lifted its holdings in shares of Stevanato Group by 131.2% in the 2nd quarter. Squarepoint Ops LLC now owns 193,311 shares of the company's stock valued at $3,493,000 after acquiring an additional 109,702 shares during the last quarter. Confluence Investment Management LLC purchased a new position in Stevanato Group in the second quarter worth about $6,062,000. Conestoga Capital Advisors LLC increased its stake in Stevanato Group by 7.6% during the first quarter. Conestoga Capital Advisors LLC now owns 8,491,751 shares of the company's stock worth $116,762,000 after acquiring an additional 602,050 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Stevanato Group by 15.8% in the 1st quarter. Royal Bank of Canada now owns 421,696 shares of the company's stock valued at $5,798,000 after purchasing an additional 57,536 shares during the last quarter.

Stevanato Group Stock Down 0.7%

NYSE:STVN traded down €0.14 during mid-day trading on Thursday, reaching €19.30. The company's stock had a trading volume of 233,102 shares, compared to its average volume of 504,198. Stevanato Group S.p.A. has a 1 year low of €12.89 and a 1 year high of €27.99. The stock has a fifty day moving average of €21.08 and a 200-day moving average of €18.58. The firm has a market capitalization of $5.85 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 1.62 and a beta of 0.78. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.21.

Stevanato Group (NYSE:STVN - Get Free Report) last issued its quarterly earnings data 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 business had revenue of €302.00 million for the quarter. Stevanato Group had a net margin of 10.99% and a return on equity of 10.43%. Equities research analysts forecast that Stevanato Group S.p.A. will post 0.69 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on STVN shares. 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. UBS Group assumed coverage on Stevanato Group in a research note on Wednesday, September 9th. They set a "neutral" rating and a $23.00 target price on the stock. Deutsche Bank Aktiengesellschaft began coverage on Stevanato Group in a report on Wednesday. They issued a "hold" rating on the stock. Finally, TD Cowen upgraded Stevanato Group to a "strong-buy" rating in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

Insider Transactions at Stevanato Group

In related news, Director Luciano Santel sold 2,023 shares of the business's 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 completion of the transaction, the director directly owned 4,739 shares in the company, valued at €95,206.51. The trade was a 29.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Marco Dal Lago sold 4,209 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of €20.09, for a total value of €84,558.81. Following the completion of the sale, the chief financial officer owned 81,144 shares in the company, valued at €1,630,182.96. The trade was a 4.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 21,926 shares of company stock valued at $459,738 in the last quarter. Insiders own 0.70% of the company's stock.

Stevanato Group Profile

Stevanato Group S.p.A. is an Italy-based provider of drug-containment, drug-delivery and diagnostic solutions for the pharmaceutical, biotechnology and healthcare industries. The company serves customers across the development, production and administration of injectable medicines, with activities spanning pharmaceutical glass packaging, medical devices and manufacturing technologies.

Its product portfolio includes glass vials, cartridges, syringes and other primary containers, as well as ready-to-use packaging solutions such as EZ-fill.

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