Royce & Associates LP Decreases Stock Position in Stevanato Group S.p.A. (NYSE:STVN)

Key Points

• Royce & Associates LP reduced its stake in Stevanato Group S.p.A. by 9.7%, selling 44,400 shares and owning approximately 413,935 shares valued at $8.45 million by the end of the first quarter.
• Despite the sale by Royce & Associates, other hedge funds like Conestoga Capital Advisors and Artisan Partners have increased their holdings in Stevanato Group, reflecting continued investor interest in the stock.
• Stevanato Group recently increased its annual dividend to $0.0613 per share, showcasing a 0.3% yield and an improvement from its previous dividend of $0.05.

Royce & Associates LP lowered its stake in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 413,935 shares of the company's stock after selling 44,400 shares during the quarter. Royce & Associates LP owned 0.14% of Stevanato Group worth $8,453,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Whittier Trust Co. bought a new position in Stevanato Group in the 1st quarter valued at $27,000. Johnson Financial Group Inc. bought a new position in Stevanato Group in the 4th quarter valued at $41,000. Wells Fargo & Company MN grew its position in Stevanato Group by 680.3% in the 4th quarter. Wells Fargo & Company MN now owns 3,246 shares of the company's stock valued at $71,000 after acquiring an additional 2,830 shares during the last quarter. Tower Research Capital LLC TRC grew its position in 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 acquiring an additional 4,965 shares during the last quarter. Finally, Hancock Whitney Corp bought a new position in Stevanato Group in the 4th quarter valued at $239,000.

Stevanato Group Stock Down 0.2%

Shares of NYSE STVN traded down €0.05 ($0.06) during mid-day trading on Wednesday, reaching €25.22 ($28.99). 19,311 shares of the company were exchanged, compared to its average volume of 332,342. The company has a quick ratio of 1.26, a current ratio of 1.83 and a debt-to-equity ratio of 0.22. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 49.45, a P/E/G ratio of 2.60 and a beta of 0.55. Stevanato Group S.p.A. has a 1 year low of €17.12 ($19.68) and a 1 year high of €28.00 ($32.18). The firm has a 50-day moving average of €24.26 and a 200 day moving average of €22.33.

Stevanato Group Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, July 17th. Investors of record on Thursday, June 5th were paid a dividend of $0.0613 per share. This is a boost from Stevanato Group's previous annual dividend of $0.05. This represents a dividend yield of 0.3%. The ex-dividend date was Thursday, June 5th.

Analyst Ratings Changes

A number of research firms have recently issued reports on STVN. William Blair reissued an "outperform" rating on shares of Stevanato Group in a research report on Monday, June 30th. Stephens raised Stevanato Group to a "strong-buy" rating in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Stevanato Group currently has an average rating of "Moderate Buy" and an average price target of €25.70 ($29.54).

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.