Stevanato Group S.p.A. $STVN Shares Sold by Granahan Investment Management LLC

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 trimmed its position in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 48.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 SEC filing.

Other hedge funds also recently bought and sold shares of the company. Conestoga Capital Advisors LLC lifted its holdings in Stevanato Group by 1.3% in the 1st quarter. Conestoga Capital Advisors LLC now owns 8,189,926 shares of the company's stock worth $167,238,000 after buying an additional 106,930 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Stevanato Group by 13.3% in 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 acquiring an additional 439,722 shares in the last quarter. TimesSquare Capital Management LLC increased its position in Stevanato Group by 2.1% during the 1st quarter. TimesSquare Capital Management LLC now owns 3,358,966 shares of the company's stock valued at $68,590,000 after purchasing an additional 70,437 shares during the period. Jennison Associates LLC raised its holdings in Stevanato Group by 27.9% in the 1st quarter. Jennison Associates LLC now owns 1,188,057 shares of the company's stock worth $24,260,000 after purchasing an additional 259,231 shares in the last quarter. Finally, Thornburg Investment Management Inc. lifted 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 worth $24,451,000 after purchasing an additional 364,471 shares during the period.

Stevanato Group Stock Up 1.3%

NYSE:STVN traded up €0.33 during mid-day trading on Thursday, reaching €26.17. The company's stock had a trading volume of 83,979 shares, compared to its average volume of 347,842. The firm has a market capitalization of $7.93 billion, a PE ratio of 48.46, a price-to-earnings-growth ratio of 2.50 and a beta of 0.55. Stevanato Group S.p.A. has a 1 year low of €17.12 and a 1 year high of €28.00. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average of €24.15 and a 200-day moving average of €22.77.

Analyst Ratings Changes

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

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.