Palisade Capital Management LP Acquires 31,283 Shares of 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 first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,431 shares of the company's stock after purchasing 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.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STVN. Frontier Capital Management Co. LLC raised its holdings 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 acquiring an additional 913,019 shares in the last quarter. Ranger Investment Management L.P. bought a new position in shares of Stevanato Group in the fourth quarter worth about $12,940,000. Artisan Partners Limited Partnership grew its stake in shares of Stevanato Group by 28.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,355,799 shares of the company's stock valued at $51,333,000 after purchasing an additional 524,989 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Stevanato Group by 56.3% in the 4th quarter. Teacher Retirement System of Texas now owns 1,250,000 shares of the company's stock valued at $27,238,000 after buying an additional 450,000 shares during the last quarter. Finally, Thornburg Investment Management Inc. boosted its position in Stevanato Group by 48.1% in the 4th quarter. Thornburg Investment Management Inc. now owns 1,122,098 shares of the company's stock valued at $24,451,000 after buying an additional 364,471 shares during the last quarter.

Stevanato Group Stock Down 1.5%

Shares of STVN traded down €0.36 ($0.42) during midday trading on Monday, hitting €24.23 ($28.51). The stock had a trading volume of 271,453 shares, compared to its average volume of 336,367. The company has a 50 day simple moving average of €23.32 and a two-hundred day simple moving average of €21.96. Stevanato Group S.p.A. has a twelve month low of €17.12 ($20.14) and a twelve month high of €25.88 ($30.45). The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 47.51, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.26.

Stevanato Group Increases Dividend

The business 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 $0.0613 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a dividend yield of 0.3%. This is an increase from Stevanato Group's previous annual dividend of $0.05.

Analyst Ratings Changes

Several research firms have recently issued reports on STVN. Stephens upgraded Stevanato Group to a "strong-buy" rating in a research report on Monday, April 21st. William Blair reaffirmed an "outperform" rating on shares of Stevanato Group in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Stevanato Group has an average rating of "Moderate Buy" and a consensus target price of €25.70 ($30.24).

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.