Envestnet Asset Management Inc. Reduces Position in Stevanato Group S.p.A. (NYSE:STVN)

Envestnet Asset Management Inc. trimmed its holdings in Stevanato Group S.p.A. (NYSE:STVN) by 6.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,602 shares of the company’s stock after selling 17,610 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of Stevanato Group worth $8,471,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in STVN. Optimum Investment Advisors purchased a new position in shares of Stevanato Group in the second quarter valued at approximately $32,000. UBS Group AG grew its stake in shares of Stevanato Group by 834.5% in the first quarter. UBS Group AG now owns 1,056 shares of the company’s stock worth $27,000 after acquiring an additional 943 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Stevanato Group during the second quarter worth $42,000. US Bancorp DE raised its stake in shares of Stevanato Group by 170.7% in the first quarter. US Bancorp DE now owns 1,340 shares of the company’s stock valued at $35,000 after acquiring an additional 845 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Stevanato Group by 47.2% in the second quarter. Fifth Third Bancorp now owns 1,454 shares of the company’s stock valued at $47,000 after purchasing an additional 466 shares during the period. 10.90% of the stock is currently owned by institutional investors and hedge funds.

Stevanato Group Stock Down 6.1 %

Shares of NYSE STVN opened at €26.55 ($28.55) on Friday. The stock has a market cap of $7.85 billion, a PE ratio of 45.00, a price-to-earnings-growth ratio of 4.43 and a beta of 0.87. Stevanato Group S.p.A. has a 52-week low of €13.71 ($14.74) and a 52-week high of €36.30 ($39.03). The business has a 50-day moving average price of €29.73 and a 200 day moving average price of €30.29. The company has a quick ratio of 0.91, a current ratio of 1.41 and a debt-to-equity ratio of 0.18.

Analyst Ratings Changes

A number of research firms have issued reports on STVN. Wells Fargo & Company increased their price target on Stevanato Group from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Stephens began coverage on shares of Stevanato Group in a report on Monday, September 25th. They set an “overweight” rating and a $33.00 price target for the company. Jefferies Financial Group lowered shares of Stevanato Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $39.00 to $29.00 in a report on Wednesday, November 1st. Morgan Stanley decreased their price objective on shares of Stevanato Group from $34.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 1st. Finally, KeyCorp increased their target price on Stevanato Group from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, August 30th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of €32.67 ($35.13).

Stevanato Group Profile

Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for biopharma and healthcare. The company operates in two segments, Biopharmaceutical and Diagnostic Solutions; and Engineering. 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.