Stevanato Group S.p.A. (NYSE:STVN) Shares Sold by Jackson Square Partners LLC

Key Points

• Jackson Square Partners LLC reduced its holdings in Stevanato Group S.p.A. by 28.9%, owning 1,157,937 shares worth approximately $23.65 million, making it the fund's 5th largest position.
• Equities research analysts have given Stevanato Group an average rating of "Moderate Buy" with a target price of €25.70 ($29.88), reflecting positive market sentiment.
• The stock recently saw an increase of 4.4%, trading at €24.11 ($28.03), with a market capitalization of $7.30 billion.

Jackson Square Partners LLC trimmed its stake in Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 28.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,157,937 shares of the company's stock after selling 469,576 shares during the period. Stevanato Group makes up approximately 3.2% of Jackson Square Partners LLC's portfolio, making the stock its 5th biggest holding. Jackson Square Partners LLC owned approximately 0.38% of Stevanato Group worth $23,645,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whittier Trust Co. bought a new position in shares of Stevanato Group in the first quarter worth approximately $27,000. Johnson Financial Group Inc. bought a new position in shares of Stevanato Group in the fourth quarter worth approximately $41,000. Van Berkom & Associates Inc. lifted its stake in Stevanato Group by 33.3% in the first quarter. Van Berkom & Associates Inc. now owns 2,400 shares of the company's stock worth $49,000 after acquiring an additional 600 shares during the period. Wells Fargo & Company MN lifted its stake in Stevanato Group by 680.3% in the fourth quarter. Wells Fargo & Company MN now owns 3,246 shares of the company's stock worth $71,000 after acquiring an additional 2,830 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in Stevanato Group by 202.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,413 shares of the company's stock worth $162,000 after acquiring an additional 4,965 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently commented on STVN. William Blair reaffirmed an "outperform" rating on shares of Stevanato Group in a research note on Monday, June 30th. Stephens raised Stevanato Group to a "strong-buy" rating in a research note on Monday, April 21st. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of €25.13 ($29.22).

Stevanato Group Stock Down 2.9%

Shares of STVN stock traded down €0.70 ($0.81) on Friday, hitting €23.50 ($27.33). The stock had a trading volume of 364,300 shares, compared to its average volume of 374,159. The business has a 50 day moving average price of €24.52 and a 200 day moving average price of €22.44. Stevanato Group S.p.A. has a one year low of €17.12 ($19.91) and a one year high of €28.00 ($32.56). The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.25. The company has a market cap of $7.12 billion, a PE ratio of 43.52, a P/E/G ratio of 2.38 and a beta of 0.55.

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.