Squarepoint Ops LLC Acquires 109,702 Shares of Stevanato Group S.p.A. $STVN

Key Points

• Squarepoint Ops LLC increased its Stevanato Group stake by 131.2% in the second quarter, purchasing 109,702 additional shares and bringing its holdings to 193,311 shares worth approximately $3.49 million.
• Institutional interest broadened, with Wellington Management and Confluence Investment Management establishing new positions, while Conestoga Capital Advisors and Royal Bank of Canada increased their holdings.
• Analyst sentiment remains favorable, with Stevanato Group carrying a consensus “Moderate Buy” rating. Shares opened at €20.98, while the company’s latest quarterly EPS of €0.14 fell slightly short of the €0.15 consensus estimate.

Squarepoint Ops LLC boosted its holdings in Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 131.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 193,311 shares of the company's stock after purchasing an additional 109,702 shares during the quarter. Squarepoint Ops LLC owned approximately 0.06% of Stevanato Group worth $3,493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP bought a new position in Stevanato Group during the second quarter valued at $22,621,000. Confluence Investment Management LLC purchased a new stake in Stevanato Group during the second quarter valued at approximately $6,062,000. Conestoga Capital Advisors LLC lifted its stake in shares of Stevanato Group by 7.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 8,491,751 shares of the company's stock valued at $116,762,000 after purchasing an additional 602,050 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Stevanato Group by 15.8% in the 1st quarter. Royal Bank of Canada now owns 421,696 shares of the company's stock worth $5,798,000 after purchasing an additional 57,536 shares during the period. Finally, Kornitzer Capital Management Inc. KS purchased a new stake in Stevanato Group during the 1st quarter valued at $1,856,000.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings upgraded shares of Stevanato Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 27th. UBS Group assumed coverage on Stevanato Group in a research note on Wednesday. They set a "neutral" rating and a $23.00 price target for the company. Wolfe Research assumed coverage on Stevanato Group in a research note on Tuesday, June 2nd. They issued an "outperform" rating and a $21.00 target price on the stock. Finally, TD Cowen upgraded shares of Stevanato Group to a "strong-buy" rating in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Stevanato Group currently has a consensus rating of "Moderate Buy".

Stevanato Group Trading Up 0.2%

Shares of Stevanato Group stock opened at €20.98 on Friday. The firm has a 50-day simple moving average of €20.55 and a two-hundred day simple moving average of €17.84. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.08 and a current ratio of 1.61. Stevanato Group S.p.A. has a fifty-two week low of €12.89 and a fifty-two week high of €28.00. The company has a market cap of $6.35 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 1.71 and a beta of 0.75.

Stevanato Group (NYSE:STVN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported €0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of €0.15 by (€0.01). Stevanato Group had a net margin of 10.99% and a return on equity of 10.43%. The company had revenue of €302.00 million for the quarter. As a group, equities analysts predict that Stevanato Group S.p.A. will post 0.69 earnings per share for the current fiscal year.

Insider Transactions at Stevanato Group

In other Stevanato Group news, Director William J. Federici sold 1,493 shares of Stevanato Group stock in a transaction on Monday, June 15th. The stock was sold at an average price of €17.09, for a total value of €25,515.37. Following the sale, the director owned 26,991 shares in the company, valued at €461,276.19. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Elisabetta Magistretti sold 2,045 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of €20.09, for a total transaction of €41,084.05. Following the completion of the transaction, the director directly owned 2,930 shares in the company, valued at €58,863.70. The trade was a 41.11% decrease in their position. 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. In the last 90 days, insiders have sold 14,249 shares of company stock valued at $268,346. 0.70% of the stock is currently owned by company insiders.

Stevanato Group Company Profile

Stevanato Group S.p.A. is an Italy-based developer and manufacturer of drug-containment and drug-delivery solutions for the pharmaceutical, biotechnology and healthcare industries. The company provides products and services designed to support the development, production and administration of injectable medicines.

Its portfolio includes glass vials, cartridges and syringes, as well as other primary packaging components and containment systems. Stevanato Group also offers inspection and packaging equipment, analytical and laboratory services, and drug-delivery technologies such as prefillable syringes and combination-device solutions.

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