Thornburg Investment Management Inc. Trims Stock Position in Stevanato Group S.p.A. (NYSE:STVN)

Key Points

• Thornburg Investment Management Inc. reduced its stake in Stevanato Group S.p.A. by 1.1%, owning 1,109,884 shares valued at approximately $22.66 million after selling 12,214 shares.
• Stevanato Group recently declared a dividend increase, raising its annual dividend to $0.0613 per share, reflecting a yield of 0.3%.
• Analysts have mixed ratings on Stevanato Group, with an average rating of "Moderate Buy" and a target price of €25.70 ($29.88), highlighting a general optimism about the stock's future performance.

Thornburg Investment Management Inc. reduced its stake in Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,109,884 shares of the company's stock after selling 12,214 shares during the period. Thornburg Investment Management Inc. owned approximately 0.37% of Stevanato Group worth $22,664,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Premier Fund Managers Ltd purchased a new position in Stevanato Group during the 1st quarter valued at about $709,000. LPL Financial LLC boosted its stake in Stevanato Group by 35.4% during the 1st quarter. LPL Financial LLC now owns 116,060 shares of the company's stock valued at $2,250,000 after purchasing an additional 30,339 shares during the last quarter. Van Berkom & Associates Inc. boosted its stake in Stevanato Group by 33.3% during the 1st quarter. Van Berkom & Associates Inc. now owns 2,400 shares of the company's stock valued at $49,000 after purchasing an additional 600 shares during the last quarter. Jennison Associates LLC increased its stake in Stevanato Group by 27.9% in the 1st quarter. Jennison Associates LLC now owns 1,188,057 shares of the company's stock worth $24,260,000 after buying an additional 259,231 shares in the last quarter. Finally, Whittier Trust Co. bought a new stake in shares of Stevanato Group in the first quarter worth about $27,000.

Stevanato Group Stock Up 1.7%

Shares of Stevanato Group stock traded up €0.43 ($0.50) during trading on Friday, hitting €25.14 ($29.23). 551,582 shares of the stock were exchanged, compared to its average volume of 337,123. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 49.30, a price-to-earnings-growth ratio of 2.50 and a beta of 0.55. The firm's 50-day moving average price is €24.31 and its 200 day moving average price is €22.36. Stevanato Group S.p.A. has a 12-month low of €17.12 ($19.91) and a 12-month high of €28.00 ($32.56). The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.26.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on STVN shares. Stephens raised Stevanato Group to a "strong-buy" rating in a research note on Monday, April 21st. William Blair restated an "outperform" rating on shares of Stevanato Group in a report on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of €25.70 ($29.88).

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.