Raymond James Financial Inc. Acquires 204,391 Shares of Stevanato Group S.p.A. $STVN

Key Points

• Raymond James Financial Inc. increased its ownership of Stevanato Group S.p.A. by 77.4%, acquiring an additional 204,391 shares, bringing its total stake to 468,475 shares valued at approximately $9.57 million.
• Other institutional investors, including Conestoga Capital Advisors and Jennison Associates, also raised their stakes in Stevanato Group, signaling strong interest from hedge funds.
• The stock has an average rating of "Moderate Buy", with one analyst recommending a Strong Buy and several others giving Buy or Hold ratings.

Raymond James Financial Inc. increased its holdings in Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 77.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 468,475 shares of the company's stock after buying an additional 204,391 shares during the period. Raymond James Financial Inc. owned 0.15% of Stevanato Group worth $9,566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Whittier Trust Co. purchased a new stake in shares of Stevanato Group in the first quarter worth $27,000. Van Berkom & Associates Inc. raised its position in shares of Stevanato Group by 33.3% in the first quarter. Van Berkom & Associates Inc. now owns 2,400 shares of the company's stock worth $49,000 after buying an additional 600 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Stevanato Group by 680.3% in the fourth quarter. Wells Fargo & Company MN now owns 3,246 shares of the company's stock worth $71,000 after buying an additional 2,830 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Stevanato Group by 202.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,413 shares of the company's stock worth $162,000 after buying an additional 4,965 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Stevanato Group by 62.4% in the first quarter. PNC Financial Services Group Inc. now owns 9,182 shares of the company's stock worth $187,000 after buying an additional 3,528 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Stevanato Group Trading Up 3.2%

Shares of NYSE:STVN traded up €0.73 on Wednesday, reaching €23.38. 1,056,931 shares of the company traded hands, compared to its average volume of 341,409. The business's 50-day simple moving average is €24.17 and its 200 day simple moving average is €22.57. Stevanato Group S.p.A. has a 52 week low of €17.12 and a 52 week high of €28.00. The stock has a market capitalization of $7.08 billion, a P/E ratio of 43.30, a price-to-earnings-growth ratio of 2.17 and a beta of 0.55. 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 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.