Stevanato Group (NYSE:STVN) Stock Falls 6.2% After Insider Selling

Key Points

• Stevanato Group shares fell 6.2% to €19.68 after insider Mauro Stocchi sold 13,649 shares for approximately €293,454. Trading volume was 84% below the average session volume.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating from seven analysts; UBS set a $23 price target, while TD Cowen upgraded the stock to “Strong Buy.”
• The company reported quarterly EPS of €0.14, missing expectations by €0.01, while revenue reached €302 million. Several hedge funds nevertheless increased their positions or initiated new stakes.

Stevanato Group S.p.A. (NYSE:STVN - Get Free Report)'s share price fell 6.2% during trading on Thursday following insider selling activity. The stock traded as low as €19.78 and last traded at €19.68. 83,573 shares were traded during mid-day trading, a decline of 84% from the average session volume of 508,382 shares. The stock had previously closed at €20.98.

Specifically, insider Mauro Stocchi sold 13,649 shares of the company's stock in a transaction on Monday, September 28th. The shares were sold at an average price of €21.50, for a total value of €293,453.50. Following the completion of the transaction, the insider owned 400,000 shares in the company, valued at approximately €8,600,000. This represents a 3.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Weiss Ratings upgraded Stevanato Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 27th. UBS Group started coverage on Stevanato Group in a research note on Wednesday, September 9th. They issued a "neutral" rating and a $23.00 price objective on the stock. Finally, TD Cowen raised shares of Stevanato Group to a "strong-buy" rating in a research report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Stevanato Group Stock Down 6.2%

The business's 50 day simple moving average is €21.09 and its 200-day simple moving average is €18.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.08 and a current ratio of 1.61. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 35.14, a price-to-earnings-growth ratio of 1.73 and a beta of 0.75.

Stevanato Group (NYSE:STVN - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported €0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of €0.15 by (€0.01). The firm had revenue of €302.00 million for the quarter. Stevanato Group had a net margin of 10.99% and a return on equity of 10.43%. Sell-side analysts expect that Stevanato Group S.p.A. will post 0.69 earnings per share for the current year.

Hedge Funds Weigh In On Stevanato Group

Hedge funds have recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC raised its position in shares of Stevanato Group by 7.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 8,491,751 shares of the company's stock valued at $116,762,000 after acquiring an additional 602,050 shares during the period. Wellington Management Group LLP bought a new position in shares of Stevanato Group in the second quarter valued at about $22,621,000. Ranger Investment Management L.P. bought a new stake in Stevanato Group in the 2nd quarter valued at $21,438,000. Cooper Investors PTY Ltd. raised its position in shares of Stevanato Group by 4.4% in the second quarter. Cooper Investors PTY Ltd. now owns 668,494 shares of the company's stock valued at $12,080,000 after buying an additional 28,265 shares in the last quarter. Finally, Sands Capital Management LLC increased its holdings in shares of Stevanato Group by 6.0% during the fourth quarter. Sands Capital Management LLC now owns 493,006 shares of the company's stock worth $9,919,000 after buying an additional 28,075 shares in the last quarter.

Stevanato Group Company Profile

Stevanato Group S.p.A. is an Italy-based provider of drug-containment, drug-delivery and diagnostic solutions for the pharmaceutical, biotechnology and healthcare industries. The company serves customers across the development, production and administration of injectable medicines, with activities spanning pharmaceutical glass packaging, medical devices and manufacturing technologies.

Its product portfolio includes glass vials, cartridges, syringes and other primary containers, as well as ready-to-use packaging solutions such as EZ-fill.

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