Jennison Associates LLC Buys 213,602 Shares of Stevanato Group S.p.A. $STVN

Key Points

• Jennison Associates LLC increased its stake in Stevanato Group by 13.7%, buying 213,602 shares to hold 1,772,896 shares valued at about $35.67 million (0.59% of the company) at quarter-end.
• Several brokerages cut price targets or revised ratings (e.g., Jefferies $17.50; Citigroup $26 buy; Morgan Stanley $19 equal weight; KeyCorp $32 overweight; Weiss Ratings downgraded to sell), leaving an average MarketBeat rating of Hold.
• Recent results show €0.18 EPS and €346.5M revenue for the quarter; the stock opened at €17.56 (12‑month range €12.89–€28.00), with a market cap of roughly $5.32 billion and a P/E around 30.

Jennison Associates LLC grew its stake in Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,772,896 shares of the company's stock after acquiring an additional 213,602 shares during the quarter. Jennison Associates LLC owned 0.59% of Stevanato Group worth $35,671,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC bought a new stake in shares of Stevanato Group in the 3rd quarter valued at about $44,000. First Horizon Corp acquired a new position in shares of Stevanato Group in the 3rd quarter valued at approximately $50,000. State of Wyoming grew its position in shares of Stevanato Group by 39,216.7% in the 2nd quarter. State of Wyoming now owns 2,359 shares of the company's stock valued at $58,000 after purchasing an additional 2,353 shares during the period. Quantbot Technologies LP acquired a new position in shares of Stevanato Group in the 3rd quarter valued at approximately $68,000. Finally, Van Berkom & Associates Inc. grew its position in shares of Stevanato Group by 50.6% in the 3rd quarter. Van Berkom & Associates Inc. now owns 3,615 shares of the company's stock valued at $93,000 after purchasing an additional 1,215 shares during the period.

Analysts Set New Price Targets

Several brokerages recently issued reports on STVN. Jefferies Financial Group set a $17.50 price objective on Stevanato Group in a research report on Tuesday, February 10th. Weiss Ratings lowered Stevanato Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, March 11th. Citigroup decreased their price objective on Stevanato Group from $32.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, March 5th. Morgan Stanley decreased their price objective on Stevanato Group from $24.00 to $19.00 and set an "equal weight" rating for the company in a research report on Friday, March 6th. Finally, KeyCorp decreased their price objective on Stevanato Group from $37.00 to $32.00 and set an "overweight" rating for the company in a research report on Thursday, March 5th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold".

Stevanato Group Trading Up 3.3%

NYSE:STVN opened at €17.56 on Friday. Stevanato Group S.p.A. has a twelve month low of €12.89 and a twelve month high of €28.00. The company has a quick ratio of 1.26, a current ratio of 1.76 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of €15.00 and a two-hundred day moving average price of €18.94. The company has a market cap of $5.32 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 1.52 and a beta of 0.75.

Stevanato Group (NYSE:STVN - Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The company reported €0.18 earnings per share for the quarter. Stevanato Group had a return on equity of 10.44% and a net margin of 11.83%.The firm had revenue of €346.50 million during the quarter. As a group, analysts expect that Stevanato Group S.p.A. will post 0.7 EPS for the current fiscal year.

Stevanato Group Profile

Stevanato Group is a global provider of primary packaging solutions and related services for the pharmaceutical and biotech industries. The company specializes in the design, development and manufacturing of glass drug containers such as vials, cartridges and pre-fillable syringes, as well as advanced inspection systems and assembly equipment. Its integrated offerings cover the entire packaging supply chain, from component production to bespoke filling lines and serialization technology.

In addition to its core glass business, Stevanato Group delivers engineering services and process validation support to pharmaceutical customers.

Want to see what other hedge funds are holding STVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stevanato Group S.p.A. (NYSE:STVN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.