Wellington Management Group LLP Makes New Investment in Stevanato Group S.p.A. $STVN

Key Points

• Wellington Management Group acquired 1.25 million Stevanato Group shares worth approximately $22.6 million, giving it a 0.41% stake. Several other institutional investors also increased their positions.
• Analyst sentiment is broadly positive: Stevanato Group has an average “Buy” rating, including two Strong Buy ratings, while Wolfe Research set a $21 price target.
• Stevanato Group reported quarterly EPS of €0.14, slightly below the €0.15 consensus estimate, on €302 million in revenue. The stock opened at €20.45, with a market capitalization of about $6.19 billion.

Wellington Management Group LLP acquired a new stake in Stevanato Group S.p.A. (NYSE:STVN - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,251,844 shares of the company's stock, valued at approximately $22,621,000. Wellington Management Group LLP owned about 0.41% of Stevanato Group at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. First Bank & Trust increased its holdings in shares of Stevanato Group by 3.4% in the 2nd quarter. First Bank & Trust now owns 18,417 shares of the company's stock valued at $333,000 after acquiring an additional 603 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Stevanato Group by 22.6% during the 1st quarter. Fifth Third Bancorp now owns 4,196 shares of the company's stock worth $58,000 after acquiring an additional 773 shares in the last quarter. GW&K Investment Management LLC lifted its stake in Stevanato Group by 76.2% during the fourth quarter. GW&K Investment Management LLC now owns 2,440 shares of the company's stock worth $49,000 after purchasing an additional 1,055 shares during the last quarter. Pathstone Holdings LLC lifted its stake in Stevanato Group by 1.5% during the third quarter. Pathstone Holdings LLC now owns 71,178 shares of the company's stock worth $1,833,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Mariner LLC boosted its holdings in Stevanato Group by 6.9% in the third quarter. Mariner LLC now owns 25,447 shares of the company's stock valued at $655,000 after purchasing an additional 1,638 shares in the last quarter.

Insiders Place Their Bets

In related news, Director Luciano Santel sold 2,023 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of €20.09, for a total value of €40,642.07. Following the completion of the sale, the director owned 4,739 shares in the company, valued at €95,206.51. This represents a 29.92% decrease in their position. 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, CFO Marco Dal Lago sold 4,209 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of €20.09, for a total transaction of €84,558.81. Following the sale, the chief financial officer owned 81,144 shares of the company's stock, valued at approximately €1,630,182.96. This represents a 4.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 14,249 shares of company stock worth $268,346. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on STVN shares. TD Cowen raised shares of Stevanato Group to a "strong-buy" rating in a report on Wednesday, June 17th. Wolfe Research initiated coverage on shares of Stevanato Group in a report on Tuesday, June 2nd. They issued an "outperform" rating and a $21.00 target price for the company. Finally, Weiss Ratings raised shares of Stevanato Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Stevanato Group currently has an average rating of "Buy".

Stevanato Group Trading Down 0.4%

NYSE:STVN opened at €20.45 on Friday. The company has a market capitalization of $6.19 billion, a PE ratio of 36.52, a P/E/G ratio of 1.68 and a beta of 0.75. Stevanato Group S.p.A. has a 52-week low of €12.89 and a 52-week high of €28.00. The stock's 50 day moving average price is €20.33 and its 200 day moving average price is €17.68. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.21.

Stevanato Group (NYSE:STVN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported €0.14 earnings per share for the quarter, missing analysts' consensus estimates of €0.15 by (€0.01). The firm had revenue of €302.00 million during the quarter. Stevanato Group had a net margin of 10.99% and a return on equity of 10.43%. On average, research analysts anticipate that Stevanato Group S.p.A. will post 0.71 EPS for the current year.

Stevanato Group Profile

Stevanato Group is a global provider of primary packaging solutions and related services for the pharmaceutical and biotech industries. The company specializes in the design, development and manufacturing of glass drug containers such as vials, cartridges and pre-fillable syringes, as well as advanced inspection systems and assembly equipment. Its integrated offerings cover the entire packaging supply chain, from component production to bespoke filling lines and serialization technology.

In addition to its core glass business, Stevanato Group delivers engineering services and process validation support to pharmaceutical customers.

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