Bank of New York Mellon Corp Decreases Stock Holdings in Stevanato Group S.p.A. (NYSE:STVN)

Bank of New York Mellon Corp cut its stake in Stevanato Group S.p.A. (NYSE:STVN) by 50.6% in the second quarter, Holdings Channel.com reports. The firm owned 17,426 shares of the company’s stock after selling 17,871 shares during the quarter. Bank of New York Mellon Corp’s holdings in Stevanato Group were worth $320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in STVN. Artisan Partners Limited Partnership grew its holdings in shares of Stevanato Group by 63.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 793,000 shares of the company’s stock worth $21,641,000 after purchasing an additional 308,309 shares during the period. Comgest Global Investors S.A.S. boosted its holdings in Stevanato Group by 88.5% in the fourth quarter. Comgest Global Investors S.A.S. now owns 129,309 shares of the company’s stock valued at $3,529,000 after purchasing an additional 60,707 shares during the period. Sands Capital Management LLC raised its holdings in Stevanato Group by 1.6% in the fourth quarter. Sands Capital Management LLC now owns 1,884,330 shares of the company’s stock valued at $51,423,000 after acquiring an additional 29,450 shares in the last quarter. Personal CFO Solutions LLC lifted its position in shares of Stevanato Group by 4.6% during the 4th quarter. Personal CFO Solutions LLC now owns 12,186 shares of the company’s stock worth $333,000 after purchasing an additional 534 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC acquired a new position in Stevanato Group in the fourth quarter valued at approximately $3,076,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on STVN shares. Morgan Stanley cut their target price on shares of Stevanato Group from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Citigroup reduced their price target on shares of Stevanato Group from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of €29.25 ($32.50).

Stevanato Group Trading Down 0.0 %

Shares of Stevanato Group stock opened at €20.34 ($22.60) on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.74 and a quick ratio of 1.13. Stevanato Group S.p.A. has a fifty-two week low of €16.56 ($18.40) and a fifty-two week high of €35.56 ($39.51). The business’s fifty day moving average is €20.20 and its two-hundred day moving average is €22.53.

Stevanato Group (NYSE:STVN) last posted its quarterly earnings results on Tuesday, August 6th. The company reported €0.09 ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of €0.10 ($0.11) by (€0.01) (($0.01)). Stevanato Group had a return on equity of 10.89% and a net margin of 11.27%. The company had revenue of €259.60 million for the quarter, compared to analysts’ expectations of €254.92 million. During the same period in the prior year, the business earned $0.15 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, research analysts predict that Stevanato Group S.p.A. will post 0.5 earnings per share for the current year.

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.