Teacher Retirement System of Texas Sells 230,000 Shares of Stevanato Group S.p.A. (NYSE:STVN)

Teacher Retirement System of Texas reduced its stake in Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 18.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,020,000 shares of the company's stock after selling 230,000 shares during the quarter. Teacher Retirement System of Texas owned 0.34% of Stevanato Group worth $20,828,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. M&T Bank Corp purchased a new stake in shares of Stevanato Group in the fourth quarter worth about $572,000. D. E. Shaw & Co. Inc. bought a new position in Stevanato Group during the fourth quarter valued at approximately $281,000. Advantage Alpha Capital Partners LP grew its position in Stevanato Group by 27.3% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 293,865 shares of the company's stock valued at $6,403,000 after acquiring an additional 63,041 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Stevanato Group by 14,623.3% in the first quarter. Bessemer Group Inc. now owns 13,251 shares of the company's stock worth $270,000 after purchasing an additional 13,161 shares during the last quarter. Finally, Allianz SE bought a new position in shares of Stevanato Group in the fourth quarter worth approximately $748,000.

Stevanato Group Stock Up 0.4%

Shares of STVN opened at €24.59 ($28.93) on Friday. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 48.22, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. Stevanato Group S.p.A. has a 1 year low of €17.12 ($20.14) and a 1 year high of €25.88 ($30.45). The business's 50 day simple moving average is €23.32 and its 200-day simple moving average is €21.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.26.

Stevanato Group Increases Dividend

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

Analyst Ratings Changes

STVN has been the topic of several recent analyst reports. William Blair reiterated an "outperform" rating on shares of Stevanato Group in a report on Monday, June 30th. UBS Group decreased their target price on Stevanato Group from $24.00 to $23.50 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, Stephens raised Stevanato Group to a "strong-buy" rating in a research report on Monday, April 21st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of €25.70 ($30.24).

About Stevanato Group

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.

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