Stevanato Group S.p.A. (NYSE:STVN) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• Stevanato Group has a consensus “Buy” rating among six analysts: two rate it a hold, two a buy, and two a strong buy. Wolfe Research initiated coverage with an outperform rating and a €21 price target, while TD Cowen upgraded the stock to strong buy.
• Insiders sold 14,249 shares worth approximately $268,346 over the past quarter, with disclosed sales by a director and the CFO reportedly made to cover tax obligations tied to vested equity awards.
• Institutional ownership increased, including additional purchases by Conestoga Capital Advisors and T. Rowe Price, while Norges Bank, Fideuram Intesa Sanpaolo and Crédit Agricole established new positions.

Stevanato Group S.p.A. (NYSE:STVN - Get Free Report) has received a consensus recommendation of "Buy" from the six analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company.

A number of brokerages have recently issued reports on STVN. Wolfe Research assumed coverage on shares of Stevanato Group in a research report on Tuesday, June 2nd. They set an "outperform" rating and a $21.00 price objective for the company. TD Cowen upgraded Stevanato Group to a "strong-buy" rating in a research report on Wednesday, June 17th. Finally, Weiss Ratings raised Stevanato Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 16th.

Insider Activity

In other Stevanato Group news, Director Karen Flynn sold 1,493 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of €17.09, for a total transaction of €25,515.37. Following the sale, the director owned 5,757 shares in the company, valued at approximately €98,387.13. This trade represents a 20.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Lago Marco Dal sold 4,209 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately €1,630,182.96. The trade was 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 quarter, insiders sold 14,249 shares of company stock worth $268,346.

Institutional Trading of Stevanato Group

A number of hedge funds and other institutional investors have recently modified their holdings of STVN. Conestoga Capital Advisors LLC grew its holdings in Stevanato Group by 7.6% during the 1st quarter. Conestoga Capital Advisors LLC now owns 8,491,751 shares of the company's stock valued at $116,762,000 after buying an additional 602,050 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Stevanato Group during the 4th quarter worth approximately $9,269,000. Norges Bank purchased a new stake in shares of Stevanato Group during the 4th quarter worth approximately $8,185,000. Credit Agricole S A bought a new position in shares of Stevanato Group during the 3rd quarter valued at approximately $9,785,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Stevanato Group by 10.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,923,632 shares of the company's stock valued at $78,944,000 after acquiring an additional 368,792 shares during the last quarter.

Stevanato Group Stock Down 0.2%

STVN opened at €21.02 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.21. Stevanato Group has a 1-year low of €12.89 and a 1-year high of €28.00. The company has a market capitalization of $6.36 billion, a PE ratio of 37.53, a PEG ratio of 1.72 and a beta of 0.77. The firm's 50 day simple moving average is €18.88 and its two-hundred day simple moving average is €16.99.

Stevanato Group Company 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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