Riverbridge Partners LLC Reduces Stock Holdings in Stevanato Group S.p.A. $STVN

Key Points

• Riverbridge Partners LLC reduced its stake in Stevanato Group S.p.A. by 12.8% during the 2nd quarter, now holding 843,349 shares valued at approximately $20.6 million.
• Several hedge funds, including T. Rowe Price and Jennison Associates, increased their holdings in Stevanato Group during the 1st quarter, reflecting positive sentiment among institutional investors.
• Wall Street analysts maintain a Moderate Buy rating on the stock, indicating investor confidence in Stevanato Group's future performance.

Riverbridge Partners LLC reduced its stake in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 12.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 843,349 shares of the company's stock after selling 123,681 shares during the quarter. Riverbridge Partners LLC owned 0.28% of Stevanato Group worth $20,603,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of STVN. Conestoga Capital Advisors LLC grew its stake in Stevanato Group by 1.3% during the 1st quarter. Conestoga Capital Advisors LLC now owns 8,189,926 shares of the company's stock valued at $167,238,000 after purchasing an additional 106,930 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Stevanato Group by 13.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,744,714 shares of the company's stock valued at $76,468,000 after purchasing an additional 439,722 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in Stevanato Group by 2.1% during the 1st quarter. TimesSquare Capital Management LLC now owns 3,358,966 shares of the company's stock valued at $68,590,000 after purchasing an additional 70,437 shares in the last quarter. Jennison Associates LLC grew its stake in Stevanato Group by 27.9% during the 1st quarter. Jennison Associates LLC now owns 1,188,057 shares of the company's stock valued at $24,260,000 after purchasing an additional 259,231 shares in the last quarter. Finally, Invesco Ltd. acquired a new stake in Stevanato Group during the 1st quarter valued at approximately $19,072,000.

Wall Street Analyst Weigh In

Separately, William Blair restated an "outperform" rating on shares of Stevanato Group in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy".

Stevanato Group Price Performance

Shares of STVN opened at €26.99 on Thursday. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 49.98, a PEG ratio of 2.52 and a beta of 0.55. The stock has a 50 day moving average of €24.50 and a 200-day moving average of €23.25. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.25. Stevanato Group S.p.A. has a 52 week low of €17.12 and a 52 week high of €28.00.

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.

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