Palisade Capital Management LP Has $1.87 Million Stock Position in Stevanato Group S.p.A. (NYSE:STVN)

Palisade Capital Management LP raised its position in Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 52.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,431 shares of the company's stock after buying an additional 31,283 shares during the quarter. Palisade Capital Management LP's holdings in Stevanato Group were worth $1,867,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Johnson Financial Group Inc. acquired a new stake in shares of Stevanato Group during the 4th quarter worth approximately $41,000. Wells Fargo & Company MN lifted its stake in Stevanato Group by 680.3% during the fourth quarter. Wells Fargo & Company MN now owns 3,246 shares of the company's stock worth $71,000 after purchasing an additional 2,830 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Stevanato Group by 1,457.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,654 shares of the company's stock valued at $123,000 after purchasing an additional 5,291 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Stevanato Group by 202.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,413 shares of the company's stock valued at $162,000 after purchasing an additional 4,965 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Stevanato Group by 17.9% during the 4th quarter. US Bancorp DE now owns 8,527 shares of the company's stock worth $186,000 after buying an additional 1,295 shares in the last quarter.

Stevanato Group Price Performance

STVN traded up €0.11 ($0.13) on Friday, reaching €24.59 ($28.93). The stock had a trading volume of 190,500 shares, compared to its average volume of 336,887. The firm has a 50-day moving average of €23.25 and a 200-day moving average of €21.96. Stevanato Group S.p.A. has a fifty-two week low of €17.12 ($20.14) and a fifty-two week high of €25.88 ($30.45). The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 48.22, a price-to-earnings-growth ratio of 2.34 and a beta of 0.55. The company has a current ratio of 1.83, a quick ratio of 1.26 and a debt-to-equity ratio of 0.22.

Stevanato Group Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, July 17th. Investors of record on Thursday, June 5th will be given a dividend of $0.0613 per share. The ex-dividend date is Thursday, June 5th. This is an increase from Stevanato Group's previous annual dividend of $0.05. This represents a yield of 0.3%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Stephens upgraded Stevanato Group to a "strong-buy" rating in a research report on Monday, April 21st. William Blair reissued an "outperform" rating on shares of Stevanato Group in a report on Monday. Finally, UBS Group decreased their price target on shares of Stevanato Group from $24.00 to $23.50 and set a "neutral" rating on the stock in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of €25.70 ($30.24).

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.