Stevanato Group S.p.A. (NYSE:STVN) Sees Significant Decrease in Short Interest

Key Points

• Short interest fell 23.2% to 1,158,813 shares as of March 31, representing about 0.4% of shares sold short and a short-interest ratio of 2.0 days.
• Several institutional investors increased holdings—RBC, Sei, Raymond James, Ameriprise and Bamco all added shares, with Bamco holding 1,888,050 shares (~$46.1M).
• Analysts have trimmed ratings and price targets recently (e.g., Weiss cut to sell; KeyCorp and Morgan Stanley lowered targets), yet MarketBeat's aggregated rating remains a Moderate Buy.

Stevanato Group S.p.A. (NYSE:STVN - Get Free Report) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totaling 1,158,813 shares, a decline of 23.2% from the March 15th total of 1,509,611 shares. Based on an average daily volume of 592,735 shares, the short-interest ratio is presently 2.0 days. Currently, 0.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STVN. Royal Bank of Canada increased its holdings in shares of Stevanato Group by 10.8% in the first quarter. Royal Bank of Canada now owns 437,284 shares of the company's stock valued at $8,930,000 after buying an additional 42,731 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Stevanato Group by 16.9% in the second quarter. Sei Investments Co. now owns 231,244 shares of the company's stock valued at $5,649,000 after buying an additional 33,419 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of Stevanato Group by 21.2% in the second quarter. Raymond James Financial Inc. now owns 567,803 shares of the company's stock valued at $13,871,000 after buying an additional 99,328 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Stevanato Group by 14.2% in the second quarter. Ameriprise Financial Inc. now owns 708,821 shares of the company's stock valued at $17,316,000 after buying an additional 87,942 shares in the last quarter. Finally, Bamco Inc. NY increased its holdings in shares of Stevanato Group by 2.1% in the second quarter. Bamco Inc. NY now owns 1,888,050 shares of the company's stock valued at $46,125,000 after buying an additional 39,528 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently commented on STVN shares. Weiss Ratings cut Stevanato Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, March 11th. Wall Street Zen cut Stevanato Group from a "buy" rating to a "hold" rating in a report on Saturday, February 14th. Jefferies Financial Group set a $17.50 target price on Stevanato Group in a report on Tuesday, February 10th. KeyCorp dropped their target price on Stevanato Group from $37.00 to $32.00 and set an "overweight" rating on the stock in a report on Thursday, March 5th. Finally, Morgan Stanley dropped their target price on Stevanato Group from $24.00 to $19.00 and set an "equal weight" rating on the stock in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Stevanato Group currently has an average rating of "Moderate Buy".

Stevanato Group Price Performance

NYSE STVN opened at €14.72 on Wednesday. The stock has a market capitalization of $4.46 billion, a P/E ratio of 25.38, a P/E/G ratio of 1.24 and a beta of 0.62. Stevanato Group has a 1 year low of €12.89 and a 1 year high of €28.00. The business's fifty day moving average is €14.95 and its two-hundred day moving average is €19.64. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.26 and a current ratio of 1.76.

Stevanato Group (NYSE:STVN - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The company reported €0.18 earnings per share (EPS) for the quarter. The company had revenue of €346.50 million for the quarter. Stevanato Group had a return on equity of 10.44% and a net margin of 11.83%. On average, research analysts forecast that Stevanato Group will post 0.5 earnings per share for the current fiscal year.

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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