Raymond James Financial Inc. Buys New Stake in Stevanato Group S.p.A. (NYSE:STVN)

Raymond James Financial Inc. purchased a new position in shares of Stevanato Group S.p.A. (NYSE:STVN) during the fourth quarter, Holdings Channel reports. The fund purchased 264,084 shares of the company’s stock, valued at approximately $5,754,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Conestoga Capital Advisors LLC boosted its stake in shares of Stevanato Group by 5.3% in the fourth quarter. Conestoga Capital Advisors LLC now owns 8,082,996 shares of the company’s stock valued at $176,128,000 after purchasing an additional 407,086 shares during the period. TimesSquare Capital Management LLC boosted its position in Stevanato Group by 114.6% in the 4th quarter. TimesSquare Capital Management LLC now owns 3,288,529 shares of the company’s stock valued at $71,657,000 after buying an additional 1,756,100 shares during the period. Wellington Management Group LLP boosted its position in Stevanato Group by 4.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,693,588 shares of the company’s stock valued at $53,872,000 after buying an additional 115,050 shares during the period. Bamco Inc. NY increased its position in shares of Stevanato Group by 1.3% during the third quarter. Bamco Inc. NY now owns 1,685,181 shares of the company’s stock worth $33,704,000 after acquiring an additional 21,469 shares during the period. Finally, Fred Alger Management LLC increased its position in shares of Stevanato Group by 24.2% during the third quarter. Fred Alger Management LLC now owns 1,070,557 shares of the company’s stock worth $21,411,000 after acquiring an additional 208,830 shares during the period.

Stevanato Group Trading Down 0.8 %

Shares of Stevanato Group stock opened at €22.34 ($24.02) on Tuesday. The company has a fifty day simple moving average of €21.04 and a 200-day simple moving average of €20.59. Stevanato Group S.p.A. has a 12-month low of €16.56 ($17.81) and a 12-month high of €33.49 ($36.01). The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 47.53, a PEG ratio of 7.18 and a beta of 0.60.

Stevanato Group (NYSE:STVN) last released its quarterly earnings data on Thursday, March 6th. The company reported €0.20 ($0.22) earnings per share (EPS) for the quarter, meeting the consensus estimate of €0.20 ($0.22). Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. The company had revenue of €352.68 million during the quarter, compared to the consensus estimate of €346.26 million. On average, equities analysts forecast that Stevanato Group S.p.A. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on STVN. Morgan Stanley reiterated an “equal weight” rating and issued a $23.00 price objective (down previously from $24.00) on shares of Stevanato Group in a research note on Tuesday, December 3rd. Wolfe Research started coverage on shares of Stevanato Group in a report on Friday, December 13th. They set an “outperform” rating and a $28.00 price target for the company. William Blair reissued an “outperform” rating on shares of Stevanato Group in a research report on Friday, March 7th. Bank of America lifted their price objective on shares of Stevanato Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, UBS Group dropped their target price on Stevanato Group from $24.00 to $23.50 and set a “neutral” rating on the stock in a report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Stevanato Group presently has an average rating of “Moderate Buy” and a consensus target price of €27.75 ($29.84).

About Stevanato Group

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.