Envestnet Asset Management Inc. Purchases 72,926 Shares of Stevanato Group S.p.A. (NYSE:STVN)

Envestnet Asset Management Inc. lifted its position in shares of Stevanato Group S.p.A. (NYSE:STVN – Get Rating) by 36.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,110 shares of the company’s stock after purchasing an additional 72,926 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of Stevanato Group worth $4,944,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of Stevanato Group by 11.4% during the first quarter. Bank of New York Mellon Corp now owns 46,717 shares of the company’s stock worth $940,000 after acquiring an additional 4,798 shares during the period. BlackRock Inc. increased its stake in shares of Stevanato Group by 3.6% during the 1st quarter. BlackRock Inc. now owns 263,364 shares of the company’s stock worth $5,299,000 after purchasing an additional 9,125 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Stevanato Group by 3.4% during the 1st quarter. Lazard Asset Management LLC now owns 6,366,679 shares of the company’s stock worth $128,097,000 after purchasing an additional 210,007 shares during the last quarter. UBS Group AG increased its stake in shares of Stevanato Group by 79.9% during the 1st quarter. UBS Group AG now owns 1,799 shares of the company’s stock worth $36,000 after purchasing an additional 799 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Stevanato Group by 21.2% during the 1st quarter. Wellington Management Group LLP now owns 992,326 shares of the company’s stock worth $19,966,000 after purchasing an additional 173,332 shares during the last quarter. 10.27% of the stock is owned by institutional investors.

Stevanato Group Stock Performance

Shares of STVN stock opened at €27.71 ($30.45) on Friday. The company has a 50-day simple moving average of €25.54 and a 200 day simple moving average of €20.71. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 48.61, a PEG ratio of 2.18 and a beta of 0.74. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.14 and a current ratio of 1.61. Stevanato Group S.p.A. has a 52 week low of €13.71 ($15.07) and a 52 week high of €29.67 ($32.60).

Stevanato Group (NYSE:STVN – Get Rating) last announced its earnings results on Thursday, March 2nd. The company reported €0.19 ($0.21) EPS for the quarter, beating the consensus estimate of €0.16 ($0.18) by €0.03 ($0.03). The company had revenue of €292.10 million during the quarter, compared to the consensus estimate of €271.89 million. Stevanato Group had a net margin of 14.17% and a return on equity of 15.15%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, sell-side analysts predict that Stevanato Group S.p.A. will post 0.62 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on STVN shares. Citigroup boosted their price objective on shares of Stevanato Group from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, March 3rd. KeyCorp boosted their price objective on shares of Stevanato Group from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, March 3rd. Wells Fargo & Company lifted their target price on shares of Stevanato Group from $27.00 to $30.00 in a report on Friday, May 5th. UBS Group lifted their target price on shares of Stevanato Group from $28.00 to $29.00 in a report on Friday, May 5th. Finally, Morgan Stanley lifted their target price on shares of Stevanato Group from $22.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, March 3rd.

About Stevanato Group

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Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for pharma and healthcare. Its principal products include containment solutions, drug delivery systems, medical devices, diagnostic, analytical services, visual inspection machines, assembling and packaging machines, and glass forming machines.