King Wealth Management Group Has $763,000 Position in Stevanato Group S.p.A. (NYSE:STVN)

King Wealth Management Group reduced its stake in shares of Stevanato Group S.p.A. (NYSE:STVN - Free Report) by 63.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,000 shares of the company's stock after selling 59,800 shares during the quarter. King Wealth Management Group's holdings in Stevanato Group were worth $763,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Stevanato Group by 1,457.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,654 shares of the company's stock worth $123,000 after purchasing an additional 5,291 shares during the period. Marco Investment Management LLC acquired a new stake in shares of Stevanato Group during the fourth quarter worth approximately $203,000. Raymond James Financial Inc. acquired a new stake in shares of Stevanato Group during the fourth quarter worth approximately $5,754,000. M&T Bank Corp acquired a new stake in shares of Stevanato Group during the fourth quarter worth approximately $572,000. Finally, US Bancorp DE raised its position in Stevanato Group by 17.9% during the fourth quarter. US Bancorp DE now owns 8,527 shares of the company's stock valued at $186,000 after acquiring an additional 1,295 shares in the last quarter.

Stevanato Group Stock Performance

Shares of NYSE:STVN traded up €1.34 ($1.46) during trading on Tuesday, reaching €21.92 ($23.83). The stock had a trading volume of 338,236 shares, compared to its average volume of 354,330. Stevanato Group S.p.A. has a 52 week low of €16.56 ($18.00) and a 52 week high of €33.49 ($36.40). The stock has a fifty day simple moving average of €21.16 and a two-hundred day simple moving average of €20.58. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 46.64, a P/E/G ratio of 7.18 and a beta of 0.60. The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 0.22.

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Stevanato Group (NYSE:STVN - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported €0.20 ($0.22) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of €0.20 ($0.22). Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. The business had revenue of €352.68 million for the quarter, compared to analyst estimates of €346.26 million. As a group, analysts anticipate that Stevanato Group S.p.A. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

STVN has been the topic of several recent research reports. Bank of America raised their price objective on shares of Stevanato Group from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Friday, December 13th. William Blair reaffirmed an "outperform" rating on shares of Stevanato Group in a research report on Friday, March 7th. Morgan Stanley reaffirmed an "equal weight" rating and set a $23.00 price objective (down previously from $24.00) on shares of Stevanato Group in a research report on Tuesday, December 3rd. UBS Group cut their price objective on shares of Stevanato Group from $24.00 to $23.50 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Finally, Wolfe Research initiated coverage on shares of Stevanato Group in a research report on Friday, December 13th. They set an "outperform" rating and a $28.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Stevanato Group presently has a consensus rating of "Moderate Buy" and a consensus price target of €27.75 ($30.16).

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.