Stevanato Group S.p.A. $STVN Shares Sold 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 trimmed its stake in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 0.35% of Stevanato Group worth $21,354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STVN. Invesco Ltd. purchased a new position in Stevanato Group during the first quarter valued at $19,072,000. Champlain Investment Partners LLC purchased a new position in Stevanato Group during the first quarter valued at $15,741,000. MetLife Investment Management LLC purchased a new position in Stevanato Group during the first quarter valued at $12,944,000. T. Rowe Price Investment Management Inc. lifted its holdings in 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 purchasing an additional 439,722 shares in the last quarter. Finally, Thornburg Investment Management Inc. lifted its holdings in Stevanato Group by 48.1% during the fourth 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 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy".

Stevanato Group Price Performance

Shares of NYSE:STVN traded down €0.44 during midday trading on Friday, hitting €26.43. The company's stock had a trading volume of 542,400 shares, compared to its average volume of 350,168. The business's 50 day simple moving average is €24.24 and its 200 day simple moving average is €22.83. 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 company has a market cap of $8.00 billion, a P/E ratio of 48.95, a price-to-earnings-growth ratio of 2.53 and a beta of 0.55. Stevanato Group S.p.A. has a 12-month low of €17.12 and a 12-month high of €28.00.

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.