JPMorgan Chase & Co. Trims Stock Position in Stevanato Group S.p.A. (NYSE:STVN)

JPMorgan Chase & Co. reduced its holdings in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 78.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,458 shares of the company's stock after selling 23,935 shares during the period. JPMorgan Chase & Co.'s holdings in Stevanato Group were worth $129,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Thrivent Financial for Lutherans grew its holdings in shares of Stevanato Group by 67.6% during the third quarter. Thrivent Financial for Lutherans now owns 2,784,912 shares of the company's stock valued at $55,698,000 after buying an additional 1,123,104 shares during the last quarter. Pembroke Management LTD increased its position in shares of Stevanato Group by 143.7% during the third quarter. Pembroke Management LTD now owns 1,051,140 shares of the company's stock valued at $21,023,000 after acquiring an additional 619,747 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in Stevanato Group by 5.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 7,675,910 shares of the company's stock valued at $153,518,000 after purchasing an additional 400,087 shares during the period. Fred Alger Management LLC grew its position in Stevanato Group by 24.2% during the third quarter. Fred Alger Management LLC now owns 1,070,557 shares of the company's stock valued at $21,411,000 after buying an additional 208,830 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Stevanato Group by 222.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 251,606 shares of the company's stock valued at $4,614,000 after acquiring an additional 173,546 shares during the period.

Stevanato Group Price Performance

NYSE STVN traded up €0.54 ($0.56) during trading on Thursday, reaching €22.47 ($23.41). The company's stock had a trading volume of 137,400 shares, compared to its average volume of 342,271. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.81 and a quick ratio of 1.21. The firm has a fifty day moving average of €21.90 and a 200 day moving average of €20.53. The stock has a market capitalization of $6.80 billion, a PE ratio of 47.81, a P/E/G ratio of 7.76 and a beta of 0.56. Stevanato Group S.p.A. has a one year low of €16.56 ($17.25) and a one year high of €34.73 ($36.18).

Stevanato Group (NYSE:STVN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share for the quarter, missing the consensus estimate of €0.13 ($0.14) by (€0.01) (($0.01)). The company had revenue of €277.90 million for the quarter, compared to analysts' expectations of €274.36 million. Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. Analysts expect that Stevanato Group S.p.A. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on STVN shares. Wolfe Research started coverage on Stevanato Group in a research report on Friday, December 13th. They set an "outperform" rating and a $28.00 price target on the stock. Bank of America increased their target price on Stevanato Group from $24.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $23.00 target price (down previously from $24.00) on shares of Stevanato Group in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Stevanato Group currently has a consensus rating of "Moderate Buy" and a consensus target price of €28.60 ($29.79).

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.