Royal Bank of Canada Grows Stock Position in Stevanato Group S.p.A. $STVN

Key Points

• Royal Bank of Canada increased its Stevanato Group stake by 15.8% in the first quarter, bringing its holdings to 421,696 shares valued at approximately $5.8 million.
• Other institutions also expanded their positions or initiated new stakes, including Conestoga Capital Advisors, T. Rowe Price, Norges Bank and Credit Agricole, signaling continued institutional interest in STVN.
• Analyst sentiment is generally positive, with a consensus “Buy” rating and recent upgrades from TD Cowen and Weiss Ratings. However, insiders sold 14,249 shares worth about $268,346 over the past three months, primarily to cover tax obligations on equity awards.

Royal Bank of Canada increased its stake in Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 421,696 shares of the company's stock after acquiring an additional 57,536 shares during the period. Royal Bank of Canada owned about 0.14% of Stevanato Group worth $5,798,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of STVN. Conestoga Capital Advisors LLC grew its position in Stevanato Group by 7.6% during the 1st quarter. Conestoga Capital Advisors LLC now owns 8,491,751 shares of the company's stock worth $116,762,000 after acquiring an additional 602,050 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Stevanato Group in the fourth quarter valued at approximately $9,269,000. Norges Bank purchased a new stake in shares of Stevanato Group during the fourth quarter valued at approximately $8,185,000. Credit Agricole S A purchased a new stake in shares of Stevanato Group during the third quarter valued at approximately $9,785,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Stevanato Group by 10.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,923,632 shares of the company's stock worth $78,944,000 after purchasing an additional 368,792 shares during the last quarter.

Stevanato Group Price Performance

Shares of STVN stock opened at €21.27 on Thursday. The firm has a market cap of $6.44 billion, a P/E ratio of 37.98, a P/E/G ratio of 1.76 and a beta of 0.77. Stevanato Group S.p.A. has a fifty-two week low of €12.89 and a fifty-two week high of €28.00. The business's 50 day moving average price is €18.93 and its 200-day moving average price is €17.01. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.08 and a current ratio of 1.61.

Insider Buying and Selling

In related news, Director Karen Flynn sold 1,493 shares of Stevanato Group stock in a transaction on Monday, June 15th. The shares were sold at an average price of €17.09, for a total value of €25,515.37. Following the sale, the director owned 5,757 shares in the company, valued at €98,387.13. The trade was a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Luciano Santel sold 2,023 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of €20.09, for a total transaction of €40,642.07. Following the transaction, the director directly owned 4,739 shares in the company, valued at approximately €95,206.51. The trade was a 29.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 14,249 shares of company stock valued at $268,346 over the last three months. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings upgraded shares of Stevanato Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 16th. TD Cowen raised shares of Stevanato Group to a "strong-buy" rating in a report on Wednesday, June 17th. Finally, Wolfe Research initiated coverage on shares of Stevanato Group in a research report on Tuesday, June 2nd. They issued an "outperform" rating and a $21.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy".

About Stevanato Group

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.

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