Stevanato Group S.p.A. $STVN Stake Reduced by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC reduced its stake in Stevanato Group by 2.3%, selling 25,039 shares and retaining 1,045,763, worth approximately $21.35 million.
• Other large investors, including Hancock Whitney Corp and Royal Bank of Canada, have increased their positions in Stevanato Group during the same period.
• Stevanato Group's stock price saw an increase of 4.7%, with the current market cap reported at $7.31 billion and a consensus rating of "Moderate Buy" from analysts.

Fred Alger Management LLC cut its stake in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 2.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,045,763 shares of the company's stock after selling 25,039 shares during the period. Fred Alger Management LLC owned approximately 0.35% of Stevanato Group worth $21,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STVN. Invesco Ltd. acquired a new position in Stevanato Group during the 1st quarter worth approximately $19,072,000. Champlain Investment Partners LLC acquired a new position in shares of Stevanato Group in the 1st quarter valued at approximately $15,741,000. MetLife Investment Management LLC acquired a new position in shares of Stevanato Group in the 1st quarter valued at approximately $12,944,000. T. Rowe Price Investment Management Inc. raised its position in shares of Stevanato Group by 13.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,744,714 shares of the company's stock valued at $76,468,000 after purchasing an additional 439,722 shares in the last quarter. Finally, Thornburg Investment Management Inc. raised its position in shares of Stevanato Group by 48.1% in the 4th quarter. Thornburg Investment Management Inc. now owns 1,122,098 shares of the company's stock valued at $24,451,000 after purchasing an additional 364,471 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, William Blair reaffirmed an "outperform" rating on shares of Stevanato Group in a research report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Stevanato Group has an average rating of "Moderate Buy".

Stevanato Group Stock Performance

Shares of NYSE STVN traded down €0.61 during trading on Wednesday, reaching €25.94. The stock had a trading volume of 835,600 shares, compared to its average volume of 349,405. Stevanato Group S.p.A. has a one year low of €17.12 and a one year high of €28.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.22 and a current ratio of 1.79. The stock has a market cap of $7.86 billion, a PE ratio of 48.04, a P/E/G ratio of 2.50 and a beta of 0.55. The firm's 50 day moving average price is €24.15 and its two-hundred day moving average price is €22.77.

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.