Riverbridge Partners LLC Sells 58,167 Shares of Stevanato Group S.p.A. (NYSE:STVN)

Riverbridge Partners LLC decreased its position in Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 5.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 967,030 shares of the company's stock after selling 58,167 shares during the quarter. Riverbridge Partners LLC owned approximately 0.32% of Stevanato Group worth $19,747,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in STVN. Frontier Capital Management Co. LLC raised its holdings in Stevanato Group by 1,012.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,003,235 shares of the company's stock worth $21,860,000 after purchasing an additional 913,019 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in Stevanato Group in the fourth quarter worth $13,848,000. Ranger Investment Management L.P. bought a new position in Stevanato Group in the fourth quarter worth $12,940,000. Artisan Partners Limited Partnership raised its holdings in Stevanato Group by 28.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,355,799 shares of the company's stock worth $51,333,000 after purchasing an additional 524,989 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Stevanato Group by 56.3% in the fourth quarter. Teacher Retirement System of Texas now owns 1,250,000 shares of the company's stock worth $27,238,000 after purchasing an additional 450,000 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have issued reports on STVN. UBS Group decreased their price objective on Stevanato Group from $24.00 to $23.50 and set a "neutral" rating for the company in a report on Friday, March 7th. Stephens upgraded Stevanato Group to a "strong-buy" rating in a report on Monday, April 21st. Finally, William Blair restated an "outperform" rating on shares of Stevanato Group in a report on Friday, March 7th. Two equities research 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of €25.70 ($29.88).

Stevanato Group Stock Up 1.4%

Shares of NYSE:STVN traded up €0.33 ($0.38) on Monday, hitting €23.62 ($27.47). 197,600 shares of the company traded hands, compared to its average volume of 339,290. Stevanato Group S.p.A. has a 52 week low of €16.56 ($19.26) and a 52 week high of €25.75 ($29.94). 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 50 day simple moving average of €22.79 and a 200-day simple moving average of €21.78. The company has a market cap of $7.15 billion, a PE ratio of 46.31, a PEG ratio of 2.22 and a beta of 0.53.

Stevanato Group Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Thursday, July 17th. Investors of record on Thursday, June 5th will be issued a $0.0613 dividend. This represents a yield of 0.3%. This is an increase from Stevanato Group's previous annual dividend of $0.05. The ex-dividend date of this dividend is Thursday, June 5th.

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.