Handelsbanken Fonder AB Reduces Holdings in Stevanato Group S.p.A. (NYSE:STVN)

Handelsbanken Fonder AB cut its stake in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 51.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,100 shares of the company's stock after selling 22,700 shares during the period. Handelsbanken Fonder AB's holdings in Stevanato Group were worth $460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. TimesSquare Capital Management LLC grew its stake in shares of Stevanato Group by 114.6% in the fourth 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 in the last quarter. New York State Common Retirement Fund acquired a new position in Stevanato Group in the 4th quarter valued at about $8,879,000. Peregrine Capital Management LLC increased its stake in Stevanato Group by 1.9% during the fourth quarter. Peregrine Capital Management LLC now owns 366,078 shares of the company's stock worth $7,977,000 after purchasing an additional 6,661 shares during the period. Truist Financial Corp lifted its position in shares of Stevanato Group by 4.2% during the fourth quarter. Truist Financial Corp now owns 26,900 shares of the company's stock worth $586,000 after purchasing an additional 1,073 shares in the last quarter. Finally, 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.

Analyst Ratings Changes

STVN has been the topic of several recent research reports. Wolfe Research initiated coverage on shares of Stevanato Group in a research note on Friday, December 13th. They set an "outperform" rating and a $28.00 target price on the stock. Morgan Stanley restated an "equal weight" rating and issued a $23.00 price target (down previously from $24.00) on shares of Stevanato Group in a research note on Tuesday, December 3rd. Finally, Bank of America increased their price objective on Stevanato Group from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Stevanato Group presently has a consensus rating of "Moderate Buy" and a consensus target price of €28.60 ($29.79).

Stevanato Group Stock Down 4.0 %

NYSE STVN traded down €0.74 ($0.77) on Monday, hitting €17.90 ($18.65). 297,251 shares of the stock were exchanged, compared to its average volume of 316,800. Stevanato Group S.p.A. has a fifty-two week low of €16.56 ($17.25) and a fifty-two week high of €33.49 ($34.89). The company has a 50-day moving average price of €21.54 and a 200-day moving average price of €20.55. The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 0.22. The company has a market cap of $5.42 billion, a PE ratio of 38.09, a PEG ratio of 7.18 and a beta of 0.56.

Stevanato Group Company 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.