Granahan Investment Management LLC Reduces Stock Holdings in Stevanato Group S.p.A. $STVN

Key Points

• Granahan Investment Management LLC reduced its stake in Stevanato Group S.p.A. by 48.8% during the first quarter, selling 110,512 shares and leaving them with 115,889 shares valued at approximately $2.37 million.
• Other hedge funds such as Hancock Whitney Corp and Royal Bank of Canada have increased their holdings, with RBC expanding by 10.8% to own $8.93 million worth of shares.
• Wall Street analyst ratings for Stevanato Group include one Strong Buy, three Buy, and two Hold ratings, with an average rating of "Moderate Buy" as of the latest report.

Granahan Investment Management LLC lowered its stake in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 48.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,889 shares of the company's stock after selling 110,512 shares during the period. Granahan Investment Management LLC's holdings in Stevanato Group were worth $2,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Hancock Whitney Corp lifted its holdings in shares of Stevanato Group by 4.8% during the 1st quarter. Hancock Whitney Corp now owns 11,482 shares of the company's stock valued at $234,000 after purchasing an additional 528 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of Stevanato Group by 33.3% during the 1st quarter. Van Berkom & Associates Inc. now owns 2,400 shares of the company's stock valued at $49,000 after purchasing an additional 600 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Stevanato Group by 7.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,878 shares of the company's stock valued at $283,000 after purchasing an additional 1,004 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Stevanato Group in the 1st quarter valued at approximately $27,000. Finally, Twin Tree Management LP purchased a new position in shares of Stevanato Group in the 1st quarter valued at approximately $29,000.

Analyst Upgrades and Downgrades

Separately, William Blair reaffirmed an "outperform" rating on shares of Stevanato Group in a report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

Stevanato Group Stock Performance

Shares of STVN stock traded down €0.61 during trading hours on Wednesday, hitting €25.94. The company's stock had a trading volume of 752,297 shares, compared to its average volume of 348,491. The company has a 50 day moving average of €24.13 and a 200 day moving average of €22.73. The stock has a market cap of $7.86 billion, a PE ratio of 48.04, a price-to-earnings-growth ratio of 2.41 and a beta of 0.55. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.25. Stevanato Group S.p.A. has a 12-month low of €17.12 and a 12-month high of €28.00.

Stevanato Group Company 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.