Jackson Square Partners LLC Sells 469,576 Shares of Stevanato Group S.p.A. (NYSE:STVN)

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 position in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 28.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,157,937 shares of the company's stock after selling 469,576 shares during the quarter. Stevanato Group accounts for approximately 3.2% of Jackson Square Partners LLC's portfolio, making the stock its 5th largest holding. Jackson Square Partners LLC owned about 0.38% of Stevanato Group worth $23,645,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of STVN. Frontier Capital Management Co. LLC lifted its position in Stevanato Group by 1,012.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,003,235 shares of the company's stock valued at $21,860,000 after purchasing an additional 913,019 shares during the last quarter. Ranger Investment Management L.P. bought a new stake in shares of Stevanato Group in the 4th quarter worth about $12,940,000. Thornburg Investment Management Inc. grew its holdings in Stevanato Group by 48.1% during the 4th quarter. Thornburg Investment Management Inc. now owns 1,122,098 shares of the company's stock worth $24,451,000 after acquiring an additional 364,471 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Stevanato Group in the 4th quarter valued at about $5,754,000. Finally, Jennison Associates LLC raised its holdings in Stevanato Group by 27.9% during the 1st quarter. Jennison Associates LLC now owns 1,188,057 shares of the company's stock worth $24,260,000 after buying an additional 259,231 shares during the period.

Analyst Upgrades and Downgrades

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

Stevanato Group Price Performance

Shares of Stevanato Group stock traded down €0.90 ($1.05) on Monday, hitting €22.73 ($26.43). The company's stock had a trading volume of 148,464 shares, compared to its average volume of 338,299. Stevanato Group S.p.A. has a 1 year low of €17.12 ($19.91) and a 1 year high of €28.00 ($32.56). The firm has a fifty day moving average price of €24.52 and a 200-day moving average price of €22.44. 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 capitalization of $6.88 billion, a price-to-earnings ratio of 42.09, a price-to-earnings-growth ratio of 2.23 and a beta of 0.55.

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.