Wellington Management Group LLP Sells 2,375,023 Shares of Stevanato Group S.p.A. (NYSE:STVN)

Wellington Management Group LLP trimmed its position in Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 88.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 318,565 shares of the company's stock after selling 2,375,023 shares during the period. Wellington Management Group LLP owned about 0.11% of Stevanato Group worth $6,942,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. SG Americas Securities LLC grew its position in Stevanato Group by 18.2% during the fourth quarter. SG Americas Securities LLC now owns 15,546 shares of the company's stock valued at $339,000 after buying an additional 2,389 shares during the period. Jennison Associates LLC purchased a new position in shares of Stevanato Group during the 4th quarter worth $20,239,000. Truist Financial Corp grew its position in shares of Stevanato Group by 4.2% during the 4th quarter. Truist Financial Corp now owns 26,900 shares of the company's stock valued at $586,000 after acquiring an additional 1,073 shares during the period. Peregrine Capital Management LLC increased its stake in shares of Stevanato Group by 1.9% in the 4th quarter. Peregrine Capital Management LLC now owns 366,078 shares of the company's stock worth $7,977,000 after purchasing an additional 6,661 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in Stevanato Group during the fourth quarter valued at $8,879,000.

Analysts Set New Price Targets

A number of analysts have commented on STVN shares. Stephens upgraded Stevanato Group to a "strong-buy" rating in a research report on Monday, April 21st. William Blair reiterated an "outperform" rating on shares of Stevanato Group in a research note on Friday, March 7th. Finally, UBS Group decreased their target price on shares of Stevanato Group from $24.00 to $23.50 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Two 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of €25.70 ($29.54).

Stevanato Group Price Performance

Shares of Stevanato Group stock traded up €0.28 ($0.32) during trading hours on Friday, hitting €23.52 ($27.03). The company's stock had a trading volume of 186,760 shares, compared to its average volume of 334,943. The company has a market cap of $7.12 billion, a PE ratio of 50.04, a PEG ratio of 7.18 and a beta of 0.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81. The business has a 50 day moving average price of €21.94 and a two-hundred day moving average price of €21.41. Stevanato Group S.p.A. has a 12-month low of €16.56 ($19.03) and a 12-month high of €25.75 ($29.60).

Stevanato Group (NYSE:STVN - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported €0.20 ($0.23) earnings per share for the quarter, hitting the consensus estimate of €0.20 ($0.23). The business had revenue of €352.68 million during the quarter, compared to the consensus estimate of €346.26 million. Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. Analysts expect that Stevanato Group S.p.A. will post 0.5 earnings per share for the current fiscal year.

Stevanato Group Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, July 17th. Shareholders of record on Thursday, June 5th will be paid a $0.0613 dividend. The ex-dividend date is Thursday, June 5th. This represents a yield of 0.3%. This is a boost from Stevanato Group's previous annual dividend of $0.05. Stevanato Group's payout ratio is presently 11.76%.

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.